Today, AI technology has revolutionized how we manage data. Learn the top five reasons why the AI method on a spreadsheet is changing the entire face of data management.
Artificial Intelligence, colloquially referred to as AI, is exactly what it sounds like. For a rudimentary definition, AI is the manufacturing of the human brain through an inanimate object. The first components of AI were developed in large room-sized robots, but today AI can be found in a chip on your smartphone or a bit or byte of data in a spreadsheet. In its most advanced definition, AI mimics the brain and how it solves problems and makes decisions.
It is among the most widely growing fields in engineering, data science, and computerized technology.
Today, AI methods are being used in almost everything, from your banking to how to create and use robot limbs or prosthetic organs. Naturally then, it is a useful tool in finance and data management as well. The right AI method on a spreadsheet can change the entire face of your organization or household. Yes, AI has revolutionized how we manage data. Learn about the top five ways here.
Understand Limitations of Excel and Ledgers
Gone are the days when a pencil and paper were used to calculate budget lines and data fields, but those days weren’t all that long ago. When Microsoft developed Excel, data management experienced expansion and increased productivity. However, in today’s world, even that software program has limitations.
Companies like Google and their product called Google Sheets, or Apple’s Numbers, have seen these limitations and developed technology that provides benefits to spreadsheet users that older programs just can’t.
Locatiing IFS Google Sheet formulas can occur in just a few seconds today, whereas trying to find that same function in Excel or in a hard-copy ledger book will take much longer. That kind of time-saving is money saved to companies today, and for many, AI functions such as that can even save a company’s bottom line. AI offers an intuitive way of circumventing the limitations of previous methods.
Report Faster With AI in Data Management
When you are using today’s methods of data management and spreadsheet functionality, you are doing so to increase productivity and save time. Here employees can accomplish work faster, and report it faster too. With today’s spreadsheets functions in programs such as Google Sheets, Excel, and Numbers, you can automate the data fields that you need to be computed.
Formulas can be automated and so too can reporting methods. Today’s spreadsheets are not just for the primary user anymore. They are a collaborative tool, that needs AI capabilities for sharing and reporting purposes.
Automate Updating With AI in Data Management
The purpose of bringing AI into today’s spreadsheets was to improve automation. When one person makes a change in a spreadsheet in an organization or at home, every device on the same login or network has access to that change. The process of automating spreadsheet data has changed the world in the areas of finance, trade, and industry, as just a few examples.
When financial data is updated in real-time on one device, and shown on another, the organization benefits as a whole. This is the result of AI technology.
Use Machine Learning to Secure Data and Network Privacy
The terms AI and machine learning go hand in hand, and they can mistakenly be used interchangeably. Put simply, machine learning is a subset of AI, much like the word “apple” can be called a fruit, or something else entirely. Machine learning is about pattern recognition, and it does function within the field of artificial intelligence. From recognized patterns, AI uses machine learning to make predictions.
This is important in a world where data privacy and network security are everyday terms for every business in the world, every human user in the world, and every enforcement agency in the world.
Machine learning is being used by your company’s systems to secure the networks and the data, and protect your spreadsheets from being monopolized by someone else.
Although machine learning isn’t a function of an actual spreadsheet, it is on the server end. Google uses machine learning to bring Google Sheets to you, and so does Apple and Numbers. The intuitive tools are used by the end user to take advantage of the predictive capability and competency. Most end users do not even know that machine learning is predicting and reporting the behavior to maximize data privacy and security.
Manage Data, Manage Projects, Manage Efficiency
Technology from software to AI and machine learning capabilities are developed to make life and business easier, more productive, and more efficient. It is also meant to organize the world in a secure fashion. The definition of a spreadsheet is that it is a data management tool. When you use a spreadsheet for data management, you are managing the overall picture of your organization or home.
Here you can manage projects, manage people, and most importantly, manage time and money. Time and money are the largest resources your organization has. Contemporary spreadsheets with AI capabilities are the tools of the future for effective data management, helping you save on your company’s largest time and financial resources.
Take Advantage of Spreadsheets and AI Technology Today
The benefits of today’s spreadsheets for data management using AI technology and machine learning pattern recognition are nearly infinite. These five benefits here are simply the most primary benefits you can enjoy, either consciously or intuitively, when you use spreadsheet programs and formulas for business productivity.
Organize your home or business with spreadsheets and see the difference in data management for yourself. Real-time answers, real-time productivity, and real-time savings on your greatest resources and assets.