Using Artificial Intelligence to Make Big Business Better
Companies with over 100 employees interact with their customers in a wide variety of ways. How can these organizations track these interactions and make good business decisions when there is so much information to sort through?
Pure Strategy is a Saskatchewan-based company providing the solution. The founder, Briana Brownell, and her growing team of seven are using artificial intelligence to help large companies make decisions.
“During my former career in research, I realized how valuable data was in making decisions but also how difficult it is to use the information effectively. It usually comes down to ‘hire more people to analyze it’ but I could see that there was the potential for a software system to automate these tasks,” explains Brownell.
She continues, “Large organizations have a problem dealing with large amounts of data. It takes a lot of time and skills to deal with. Most of the time, these businesses know that there’s information (and money) wasted that they are not using effectively and opportunities are missed as a result.”
Pure Strategy provides the solution by analyzing the language data from interviews, call centres, sales systems (CRM databases), comments from market research, customer service surveys, reviews on websites, sales inquiries, usability testing data – whatever information is appropriate. The system uses machine learning to compile the information and provide a report to the organization with actionable information, just like a human analyst would.
Pure Strategy focuses on the pharmaceutical, banking, insurance and retail markets and is currently exploring working with organizations in marketing and healthcare industries.
One of their success stories was a company looking for market research about migraine medication. When their research data was put through the Pure Strategy system they discovered that women often used the words “headache” while men never did and often (and exclusively) use the term “migraine”. This is a powerful distinction for marketers and people communicating to their existing clients.
“I see data analytics and artificial intelligence as being a huge growth industry. It will change the way that people work, the way companies hire, the way that companies launch new products and it will become a huge part of people’s lives,” Brownell smiles.
“The technology is finally at a point where we can build serious and useful systems. This market is complicated and requires data science and market intelligence to succeed but the need for these tools is enormous. It is only a matter of time. I want to be a billion dollar company in 10 years.”
Founder: Briana Brownell
Incorporation Date: February 2016