It Used to Be “Bad Input, Bad Output,” and Now it’s “Bad Input, Bad Robot”?
Good data management is essential for the effective use of Artificial Intelligence (“AI”) because it ensures that the data used to train AI models is accurate, complete, and representative.
Here’s why good data management is crucial for AI effectiveness:
– Data Quality: High-quality data is vital for AI models to make accurate predictions and decisions. If the data is poor, the AI’s outputs will be unreliable.
– Reduced Bias: Ensuring that the data is representative and unbiased is essential to prevent AI models from perpetuating or amplifying biases.
– Data Accessibility: Well-managed data is easily accessible for AI systems, which is necessary for timely and efficient data processing.
An Enterprise Resource Planning (ERP) system assists with data management in several ways:
– Centralization: ERP systems centralize data from various departments, providing a single source of truth that enhances data quality and accessibility.
– Integration: They integrate different business functions, ensuring that data is consistent and up-to-date across the organization.
– Data Quality Assurance: ERPs often include data cleansing and validation tools to maintain high data quality standards.
– Master Data Controls: ERP’s allow you to put controls over master data. For example, being able to have approvals on the creation of Vendor Masters, Customer Masters, General Ledger Accounts, Dimensions such as Department, Class, Location are all controllable. In addition, you can ensure that all transactions are tagged with the correct data points so that you have reliable and consistent data points at the source level.
– Monitoring and Reporting: ERP systems can monitor data performance and quality, providing valuable insights for decision-making.
Good master data management is the backbone of practical AI. ERP systems ensure that data is well-organized, high-quality, and readily available for AI applications.
Companies that do not leverage AI will fall behind. That’s becoming obvious in today’s technology landscape.
Worse will be organizations that take shortcuts and use AI without investing in their master data management and ERP. They’ll make bad decisions based on inconsistent data. Data will randomly feed AI from various departments and systems without integrity or control. Those decisions will be a gamble as they won’t be based on trends or information.
The businesses set up to stay ahead of the competition recognize that an ERP is essential. With the controls, quality and single data source, they’ll be equipped to implement AI and use it to make better decisions quicker than their competitors. They’ll also have the added benefit of providing an innovative employee experience. An ERP is more essential today than ever before.
Here are our discussions:
- Dinosaurs of Tech – Is That Where ERPs Are Heading?
https://amplifytech.ca/dinosaurs-of-tech-is-that-where-erps-are-heading/ - Xero and QBO Users Shocked: The ERP Features They’re Missing Out On!
https://amplifytech.ca/are-erps-keeping-up-with-qbo-xero-and-tech-stacks/ - Compliance Chaos: Do Xero and QBO Stand Up to ERPs?
https://amplifytech.ca/compliance-chaos-how-xero-and-qbo-stand-up-to-erps/ - ERPs in Crisis? Shocking Revelations About AI Takeover!
https://amplifytech.ca/erps-in-crisis-shocking-revelations-about-ai-takeover/ - Data Disasters: How Poor Management Can Derail AI Dreams!
- From Cloud to AI: How NetSuite and Acumatica Are Pioneering the Next Tech Wave!
https://amplifytech.ca/from-cloud-to-ai-how-netsuite-and-acumatica-are-pioneering-the-next-tech-wave/ - Salesforce and “Best-in-Class”: Are They Killing the All-in-One Enterprise Dream?
https://amplifytech.ca/salesforce-and-best-in-class-are-they-killing-the-all-in-one-enterprise-dream/
Sources:
- How AI Is Improving Data Management:
https://sloanreview.mit.edu/article/how-ai-is-improving-data-management/ - The Critical Role of Data Quality for AI Success:
https://www.matrixflows.com/blog/a-comprehensive-guide-to-ensuring-quality-data-and-content-for-optimal-ai-performance - AI and the importance of data management:
https://www.techradar.com/news/ai-and-the-importance-of-data-management
