Machine learning and AI can offer tremendous benefits to enterprises of any size and in any industry. But there’s a dirty little secret to their use that many companies don’t know: Bad data is rampant and can make those technologies ineffective.
Poor Data: The Biggest Barrier to Successful Artificial Intelligence Efforts
So finds an AI/Machine learning global study from Refinitiv. It warns that poor quality data “is the biggest barrier to the adoption and deployment of machine learning... The adage ‘garbage in, garbage out’ has never been more pertinent. If data is the new oil, then much of it still needs a lot of refining, and that’s a heavy lift for the consumers of data.”
Key Stat:
66% of respondents said that poor data quality impacts their ability to effectively adopt and deploy AI and machine learning.
Sixty-six percent of respondents to a Refinitiv survey for the study said that poor data quality impacts their ability to effectively adopt and deploy AI and machine learning. The survey also found that three of the top four challenges when working with new data for machine learning revolve around poor data quality: “accurate information about the coverage, history, and population of the data,” “identification of incomplete or corrupt records,” and “cleaning and normalization of the data.”
The study noted that at the AI and Data Science in Trading conference in New York, “Several presenters talked about how difficult it is to find data of the appropriate quality and that some groups can spend 80%–90% of their time normalizing and cleaning it.”
How to Make Sure Your Data Is High Quality
Refinitiv recommends several ways to help make sure data quality is high, including making sure it’s derived from a trusted source and that it be easily accessible.
One of the best ways to make sure that your data comes from a trusted source and is easily accessible is to use mobile forms and apps to acquire it. That way, you have control over data quality and can make it instantly accessible when and where it’s required.
A Valuable Guide to Successful Artificial Intelligence
To benefit your AI models, you must trust the data behind them. Alpha Software works with customers to help quickly and comprehensively collect data they can trust for all their business needs. The Company has produced a guide to help companies make sure they
The guide, “Adding Artificial Intelligence Capabilities to Your Mobile Apps,” notes that mobile apps are the missing link in AI implementation. They help improve data quality and deliver accurate, trusted data.
The guide explains, “Traditional data collection often comes from multiple sources, including manual data entry and paper forms. It could take weeks to get handwritten forms completed in the field into corporate systems of record, and often the results are prone to errors. If your data isn’t accurate, your AI results will be lackluster, if not completely wrong. As a result, it’s critical to ensure that your AI effort is based on accurate, timely data. Modern mobile forms that incorporate best practices for field data collection are critical to enabling solid AI.”
The guide will help you make sure your AI data is of the highest quality and also aid you in thinking through some of the key market factors, technology starting points, and business examples for applying AI to your next business app. Get a free copy of the AI guide for trusted data.
Alpha Software: A Leader in Trusted Data
Alpha Software customers trust us to handle sensitive government, patient, manufacturing quality and other data. Our Company has over a decade of experience building database apps and solutions for customers that require secure, timely, comprehensive and accurate data. For example, Alpha Software offers the leading quality management software for manufacturers, which collects more accurate manufacturing data to power trusted AI models.
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If you're not confident your data is as timely and accurate as it can be, Contact Us.
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