<p>Artificial Intelligence (AI) and Machine Learning (ML) have changed the way we live. Starting with the product recommendation and search engine results to self-driving cars and drones everything is powered by artificial intelligence.<br><br>Today we are building a future where automation and autonomous power are everything. To build such automated applications and machines, datasets need to be properly trained. However, since the dataset is very large and the human training method will not help, artificial intelligence companies use data interpretation to label this material and train machine learning models</p><h3 id="%E2%80%8Cwhat-is-data-annotation">?What Is Data Annotation?</h3><p>Data annotation is a process to facilitate access to machines. It is important for machine learning and processing labelled datasets. And it is especially important to learn from the input patterns to reach the desired output. Data comes in various formats such as images, text, videos, and documents, but these types cannot be fed into a machine learning model without any distinctive documentation. Using data annotation, companies can train their ML models with the right tools and techniques. Here are some uses of data annotation:<br><br>?	Using the data described to train the machine learning model, the accuracy of this method will be higher.<br>?	Trained machine learning models with noted data take advantage of a      seamless experience for end-users.<br>?	Even virtual assistants or chatbots use trained datasets to answer users questions.<br>?	A machine learning model trained with machine data provides comprehensive results in search engine recommendation.<br>?	In addition to helping on a large scale, data annotation can help with local labelling based on geography. It is labelled locally for information, images and wither content.</p><h3 id="what-is-human-annotation-data">What Is Human Annotation Data?</h3><p>Humans spend a lot of time helping machines learn how the world works. Therefore, the data annotation hinders humans in the process of improving performance.</p><h3 id="types-of-data-annotation">Types of Data Annotation</h3><p><strong>?	Text Annotation:</strong></p><figure class="kg-card kg-image-card"><img src="https://iaxds62ruoojbg1k4180.cleaver.rocks/images/posts/77ad8995876f3fe7d8fb7d116fbdc8e4.jpg" class="kg-image" alt loading="lazy" width="980" height="663" srcset="https://techfastly.com/content/images/size/w600/2021/07/Text-Annotation-for-NLP-980x663-2.jpg 600w, https://iaxds62ruoojbg1k4180.cleaver.rocks/images/posts/77ad8995876f3fe7d8fb7d116fbdc8e4.jpg 980w" sizes="(min-width: 720px) 720px"></figure><p>Today, most companies are moving towards automation models, in particular, the power of their text-based working systems. Recently, text annotation has been the focus of attention for increasing adoption. Text annotation includes various interpretations such as emotions, intentions, and inquiries. For example, text annotation helps machines recognize keywords in sentences and make sentences more meaningful. Text annotation is highlighted with specific colours and shades so that the reading sentences are carefully trained in machine learning algorithms.</p><p><strong>?	Video Annotation:</strong></p><figure class="kg-card kg-image-card"><img src="https://iaxds62ruoojbg1k4180.cleaver.rocks/images/posts/5f13f263af4b85cb6f3f4fd930b23296.jpg" class="kg-image" alt loading="lazy" width="991" height="849" srcset="https://techfastly.com/content/images/size/w600/2021/07/Video-Annotation-Services-Banner-3.jpg 600w, https://iaxds62ruoojbg1k4180.cleaver.rocks/images/posts/5f13f263af4b85cb6f3f4fd930b23296.jpg 991w" sizes="(min-width: 720px) 720px"></figure><p>Humans are seen as a good source for datasets training when it comes to video annotation. For example, companies search engine results. They gather information from many people according to their preferences and promote similar content to others. Video annotation using autonomous vehicles things like cars, traffic lights, signboards, street lights and walking on the roads can be understood.</p><p><strong>?	Image Annotation:</strong></p><figure class="kg-card kg-image-card"><img src="https://iaxds62ruoojbg1k4180.cleaver.rocks/images/posts/244412df2d907ebc32fa77a53629db09.jpg" class="kg-image" alt loading="lazy" width="1200" height="630" srcset="https://techfastly.com/content/images/size/w600/2021/07/data-annotation-social-2.jpg 600w, https://techfastly.com/content/images/size/w1000/2021/07/data-annotation-social-2.jpg 1000w, https://iaxds62ruoojbg1k4180.cleaver.rocks/images/posts/244412df2d907ebc32fa77a53629db09.jpg 1200w" sizes="(min-width: 720px) 720px"></figure><p>Image annotation is important for dataset training. Many advanced technologies such as computer vision, robotic vision, facial recognition, etc. Rely on image annotation to interpret pictorial forms. In order to train models with image data, metadata should be assigned to images in the form of identifiers, or keywords.</p><p><strong>?	Audio Annotation:</strong></p><p>Audio annotation is different from other types of annotation. Unlike others, audio annotation takes in-depth steps to copy speech data and stamp time, including a copy of specific pronunciation and publication. Each case is different, and some require a very specific approach: for example, tagging aggressive speech gestures and non-speech sounds like a broken glass for use in security and emergency hotline technology applications.</p><h3 id="benefits-of-data-annotation">Benefits of Data Annotation</h3><p>Data annotation benefits a variety of AI and machine learning technologies and companies and their users:<br>?	Chatbots and voice assistants have been trained to communicate with users in a more humane way.<br>?	High-quality results are returned for search queries.<br>?	Internal IoT devices can detect everything from the human voice to sudden movement in the home, which improves availability and home security.<br>?	Users Online videos, photos and articles have become increasingly accessible to users with vision or hearing impairment. Speech recognition technology has also increased access to mobile and desktop devices.<br>?	Facial and body recognition tools can be used for anything from enhancing biosecurity to AI-driven medical diagnosis.<br>?	New technologies, such as self-driving cars, can read and process landscape-based data that replaces most human actions.</p><h3 id="conclusion">Conclusion</h3><p>Data annotation is essential for AI and machine learning, and both have added immense value to the world. To keep the AI industry growing, data annotations are needed. This will continue to grow as more modest datasets are required to develop some machine learning tools.</p>

UMAR NABI

Premium reporting on technology, startups, VC funding, and software from Techfastly tagged with AI. Read about themes, trends and strategies for AI.

Artificial Intelligence

Data Annotations: Backbone For ML Model Trainings

<p>Software as a Service (SaaS) product has become an increasingly attractive model in recent years. The SaaS market is forecast to hit <strong>$623 billion by 2023</strong>, with an annual <strong>growth rate of 18%</strong>, according to a report by Finance Online. SaaS's top dealers include Microsoft, Adobe, Oracle, and Salesforce.</p><p>??With all these market leaders, it is difficult for SaaS startups to take notice and find customers. However, when a great idea is united with the right technologies and tools, anything is possible.</p><h3 id="what-is-an-mvp-for-saas-marketing">What is an MVP For SaaS Marketing?</h3><p>SaaS startup to build minimum viable products (MVP) to speed up implementation of its ideas for SaaS projects. With the help of MVP, SaaS startups can refine their ideas and get feedback to move in the right direction. Even good companies create MVPs to test their new product ideas.</p><h3 id="why-use-an-mvp">Why Use an MVP?</h3><p>When you are entering the market with a perfect product, it is better to run MVP. Today most companies like Dropbox, Airbnb, IBM and others are giants of their time.</p><p>??One of the advantages of an MVP is to test your SaaS product idea in the real market. Not only that, but it will save you a lot of time and money. In addition, you can:</p><blockquote>Determine if consumers need the solution you offer</blockquote><blockquote>Identify the risks at an early stage</blockquote><blockquote>Predict demand</blockquote><blockquote>Analyze user behaviour</blockquote><blockquote>Improve product development and marketing</blockquote><blockquote>Monetize the product based on user needs</blockquote><h3 id="how-to-create-mvp-plan-for-b2b-saas-startup">How to Create MVP Plan for B2B SaaS Startup?</h3><p>Successful companies like Facebook, Twitter, Instagram and Oracle created an MVP to review their ideas.  Here is a simple MVP framework that helped them and can help you too.</p><figure class="kg-card kg-image-card"><img src="https://iaxds62ruoojbg1k4180.cleaver.rocks/images/posts/06fc3c69dd141b01cbaa3c795035df5f.jpg" class="kg-image" alt="How to Plan an MVP for a B2B SaaS Startup?" loading="lazy" width="1024" height="487" srcset="https://techfastly.com/content/images/size/w600/2021/08/Plan-MVP-for-B2B-SaaS-Startup-3.jpg 600w, https://techfastly.com/content/images/size/w1000/2021/08/Plan-MVP-for-B2B-SaaS-Startup-3.jpg 1000w, https://iaxds62ruoojbg1k4180.cleaver.rocks/images/posts/06fc3c69dd141b01cbaa3c795035df5f.jpg 1024w" sizes="(min-width: 720px) 720px"></figure><h3 id="do-market-research">Do Market Research</h3><p>There are thousands of SaaS companies.  But someone has to provide a solution and solve the problem. Therefore, it is well connected to be aware of the key players in the market, their market share and their positioning.</p><p>??You can also run live surveys on your social media to get people to comment on your product. You can ask them questions like:</p><blockquote>How much would you pay to solve this problem?<br>Have you had any such problems?</blockquote><h3 id="narrow-your-target-audience">Narrow Your Target Audience</h3><p>Once you know the problem, the next step is to divide your audience. It helps you determine the entire product and service.</p><p>As a SaaS developer, you will see it in different sections. Therefore, you must identify your segments and analyze the product from their point of view?</p><blockquote>Why should they use your product?</blockquote><blockquote>What will it cost for them?</blockquote><blockquote>Does your results  help them reduce resources, time, or costs?</blockquote><blockquote>What is the big client's problem that your product will solve?</blockquote><blockquote>Can your product be used for different target audiences?</blockquote><h3 id="define-user-flow-features">Define User Flow &amp; Features</h3><p>User flow describes in the way of consumers will get what they want from your product. Therefore, keep the flow of the user as simple as possible.</p><p>??Next, you can plan your MVP features.  Include those who are closely involved in resolving consumer issues. For example, if you are grow a fitness app, your MVP will not require billing and subscriptions. You can add it to the future iteration of your product.</p><h3 id="build-measure-improve">Build, Measure &amp; Improve</h3><p>You can now create your MVP for the basic version of your product.</p><p>??Once you release it in your market, keep an eye on all the data you get. Measure product usage, traffic, customer behaviour, demographics and other high-ranking metrics. This statistics can help you make enlightened decisions as you think about more developing products.</p><h3 id="pivot">Pivot</h3><p>If the feedback and data you have collected show a positive market response for your product, be prepared to repeat your MVP.</p><p>You can start product development again to offer customers the product that your MVP lacked. To avoid the cost of axis-related changes, you can choose to create an MVP that allows for faster and more dynamic changes.</p><h3 id="conclusion">Conclusion</h3><p>Don't forget, creating an MVP means getting involved in the learning process, where you can learn more about your target audience. It gives you the confidence to serve your product better with subsequent releases.</p><p>??If you plan to start your own B2B SaaS startup, don't skip building an MVP.</p>

Premium reporting on technology, startups, VC funding, and software from Techfastly tagged with Business. Read about trends and strategies for Business.

Business

How To Plan An MVP For A B2B SaaS Marketing Startup

<h3 id="what-is-blockchain-technology">What is Blockchain Technology?</h3><p>Blockchain is an emerging technology for storing data in a distributed ledger that allows multiple stakeholders to securely transmit credentials to the exact information. It allows transitions to be recorded and added to the block in chronological order and monitors digital currency transfers without central record capping. Currently, blockchain technology is mainly used to verify transfers within digital currencies. That way, it can be digitized, coded, and inserted into virtually any document in the blockchain.</p><p><strong>KEY TAKEAWAYS:</strong></p><ul><li>Blockchain differs from a typical database in the manner it shares information. Blockchains store data in blocks that exist then interconnected<strong> </strong>via cryptography.</li><li>As new data comes it is inserted into a new block. A new block is attached to the previous block once it is filled with the data, which brings the data together in chronological order.</li><li>A variety of information can be stored on the blockchain, but by far the most widely used is as a ledger for transactions.</li><li>In the case of Bitcoin, blockchain is used with decentralization so that not a single individual or group has control but all users collectively retain control.</li><li>Decentralized blockchains are unchangeable, i.e.,  the data entered is irreversible. In Layman's terms, the transactions are permanently recorded and can be viewed by anyone.</li></ul><h3 id="is-fraud-possible-in-blockchain">Is Fraud Possible in Blockchain?</h3><p>Blockchain technology helps reduce the crime rate of fraud using shared digital ledgers that can enhance the visibility and transparency of transactions between business network participants. In addition, components of the blockchain web can not only review the record but also share their investments.</p><p>According to an analysis by the Association of Certified Fraud Examiners, the average individual loses 5% of their revenue each year due to scams.</p><figure class="kg-card kg-gallery-card kg-width-wide kg-card-hascaption"><div class="kg-gallery-container"><div class="kg-gallery-row"><div class="kg-gallery-image"><img src="https://iaxds62ruoojbg1k4180.cleaver.rocks/images/posts/6b5d4575fc9e824759d8319948633e50.png" width="1920" height="1080" loading="lazy" alt srcset="https://techfastly.com/content/images/size/w600/2021/11/main-qimg-80a5e3bb6130058c38d89642d9f735ac.png 600w, https://techfastly.com/content/images/size/w1000/2021/11/main-qimg-80a5e3bb6130058c38d89642d9f735ac.png 1000w, https://techfastly.com/content/images/size/w1600/2021/11/main-qimg-80a5e3bb6130058c38d89642d9f735ac.png 1600w, https://iaxds62ruoojbg1k4180.cleaver.rocks/images/posts/6b5d4575fc9e824759d8319948633e50.png 1920w" sizes="(min-width: 1200px) 1200px"></div></div></div><figcaption>Source: Blockchain Council</figcaption></figure><h2 id="three-ways-blockchain-can-help-prevent-fraud">Three Ways Blockchain Can Help Prevent Fraud</h2><p>Observing three methods of blockchain can help you to make enterprises less unprotected from fraud.</p><h3 id="blockchain-is-distributed">Blockchain is Distributed</h3><p>A blockchain distributed digital record is a type of shared transaction data that is transmitted to peer-to-peer networks and frequently communicated. There is no central moderator or central version, so there is no single point of failure. Rather, management and support are spreading throughout the web, so there is no area for anyone to start a dishonest scheme.</p><p>Fraudsters use a type of technique to cover up their criminal activities, including distorting or deleting information in a company's accounting system, altering electronic or paper documents, and creating fraudulent files. Using shared digital records can help reduce fraud as it increases the visibility and transparency of transactions between members of the supply chain and the business network. Participants can view the history and transfer of assets, so it is easy to identify fraudulent transactions. In addition, to change the transaction records on the blockchain, an individual or group of individuals will have to collaborate to control the majority of the system.</p><h3 id="blockchain-is-immutable">Blockchain is Immutable</h3><p>Transactions counted on the blockchain are unchangeable because they cannot be deleted or changed. Because a "block" of transactions can be added to the blockchain, network participants must agree on the validity of the transaction through a process called consensus.</p><p>The block is then allotted<strong> </strong>a timestamp, which is encrypted and linked to the previous block in the chain. Although you can create a new transaction to change the status of an asset, it resolves to be efficiently incorporated into a Chain, and the original record will still be accessible. Thus, utilizing Blockchain you can visit the realism of an investment, including where it reached from, where it's been, and who owns it.</p><h3 id="blockchain-can-be-permissioned">Blockchain can be Permissioned</h3><p>Businesses deal with a lot of confidential data. They can't let anyone in. There must be some way to ensure that outsiders do not enter the network and insiders do not break the record. This is where permissions come in handy. But unlike the previous features I have discussed, not all blockchain networks are allowed. However, permission networks can be a great deterrent to fraud because they restrict who is allowed to participate and in what capacity. Licensed network members should be invited and verified before they can cooperate.</p><h3 id="conclusion">Conclusion</h3><p>Blockchain technology will play an important role and help deal with ethical issues such as fraud, theft, or counterfeiting. Blockchain technology can help solve some social and financial problems by avoiding financial losses through fraud, deception, and counterfeiting in finance, healthcare, supply chain, automobile, democracy, and many more. This blockchain technology is paving the way for building trust in the community by reducing fraud and untruth widely.</p>

How Can The Blockchain Be Used To Prevent Fraud?

<p>Artificial Intelligence (AI) and Machine Learning (ML) have long been considered myths in the business world. Recent advances in the availability of large-scale data and processing power have made these distant ideas obsolete. Artificial intelligence and machine learning are the norms in today's world.</p><p>Artificial intelligence and machine learning have been some of the most popular trends recently, which is not surprising given the importance of Software-as-a-Service (SaaS) in this revolutionary transformation. A few weeks ago, Google CEO <strong>Sundar Pachai</strong> spoke at an event sponsored by Humanity Issues. He informed the audience that AI and ML could have far-reaching effects, possibly more than fire or electricity. This article will look at how SaaS companies are using AI/ML in their future projects.</p><p><strong>SaaS Companies Stats</strong></p><ul><li>As per <a href="https://www.gartner.com/en/newsroom/press-releases/2021-08-02-gartner-says-four-trends-are-shaping-the-future-of-public-cloud">Gartner</a>, the SaaS industry is estimated to be worth $145 billion.</li><li>In major European markets, the value of the SaaS business is predicted to more than double (<a href="https://www.statista.com/statistics/1219237/saas-versus-other-software-market-revenue-europe-bycountry/">Statista</a>).</li><li>Japan's SaaS market value is predicted to go beyond ?1.5 billion in 2023 (<a href="https://www.cisco.com/c/en/us/solutions/collateral/executive-perspectives/annual-internet-report/white-paper-c11-741490.html">Yano Research)</a></li><li>India's SaaS companies have grown by almost 75% in two years (<a href="https://strive.vc/admin/wp-content/uploads/2020/11/India-SaaS-Opportunity-2020-vF.pdf">NASSCOM</a>).</li></ul><h2 id="saas-solutions-where-aiml-can-help">SaaS Solutions Where AI/ML Can Help</h2><p>SaaS companies are fully utilizing AI and ML technologies. Businesses are now showing a keen interest in this sector. Here are some SaaS solutions in which artificial intelligence plays a significant role.</p><h3 id="personalization">Personalization</h3><p>AI allows personalization in SaaS and provides a platform for big data processing, helping marketers develop their plans. Personalization focuses and distributes a lot of data, allowing marketers to find high-value customers, locations and channels as leads.</p><p>In addition, marketers can provide relevant and customized content to these prospects based on their interests and communication channels. Personalization using machine learning is essential for gaining insights from the data collected to find trends and draw conclusions.</p><p>For example, adding more functions or features to SaaS companies without AI capability compresses the user interface and creates complexity for the user. AI can help not only personalization but also feature acceptance.</p><h3 id="automation">Automation</h3><p>Another breakthrough in SaaS is automation. It helps measure SaaS business by managing multiple marketing campaigns across different channels. This whole process helps maintain more leads, lead segmentation, and customer retention.</p><p>The best example of marketing automation is <a href="https://www.koombea.com/blog/will-bots-really-replace-apps/">chatbots</a>, which can be used to enable website visitors. Furthermore, by reviewing the set of questions they ask through chatbots, you can identify its pattern and find out where it is in the process. This way, your marketing team will be able to get the best-selling qualified leads.</p><h3 id="predictive-analytics">Predictive Analytics</h3><p>Predictive analysis is a set of methods based on statistical data that seeks to predict the future by reviewing past patterns. Together with user-friendly SaaS companies models, machine learning can increase access to predictive analytics. It assists in creating client persons by reviewing their behaviour, and the accuracy of these predictions improves over time.</p><p>For example, machine learning algorithms can be used to predict user behaviour or preferences and then trigger alerts or actions when the user appears uninterrupted.</p><h3 id="product-search">Product Search</h3><p>When it comes to using AI for product search, SaaS businesses mine the data to find out the purpose of the query. For example, if a person searches for a car, what is the purpose of the search? Is he looking for a new car or car parts?</p><p>When a user searches for a product, organizations are able to evaluate the purpose behind the search and provide the best results with awareness of their customers' behaviour.</p><p>User click-through rates and product sales rates are key components of this process and are important in determining product rankings. They can use the data to create graphs between different products and related searches.</p><h3 id="release-management">Release Management</h3><p>The effects of SaaS speeding up and delivering quickly through programming, the only glitch or glitch that affects all users, can be extremely costly. There are other credibility and potential liability issues to consider, but being able to deploy faster can be a definite benefit. If you are in a competitive market, reaching out to people first can mean the difference between leadership and followership.</p><p>AI is a game-changer for SaaS developers as it can enhance their coding skills by performing the necessary tests to ensure the coding is accurate. When AI can verify that SaaS companies is designed to scale to thousands of users, deployment time can be reduced to days.</p><p><a href="https://www.docker.com/">Docker</a>, which tests and evaluates code for speedy implementation, is an example of AI in SaaS. Another example is the efforts of <a href="https://qz.com/920468/artificial-intelligence-created-by-microsoft-and-university-of-cambridge-is-learning-to-write-code-by-itself-not-steal-it/">Microsoft and the University of Cambridge</a> to train artificial intelligence to code independently.</p><h3 id="enhanced-security">Enhanced Security</h3><p>Cloud security has been a major concern among SaaS providers, and traditional methods of security are ineffective. To meet new threats, some perimeter devices require human input.</p><p>AI SaaS enables security services to replicate themselves and learn from new security concerns. <a href="https://solutionsreview.com/cloud-platforms/oracle-adds-machine-learning-and-ai-to-cloud-security-services/">Oracle's </a>cloud security services now include AI and ML. This functionality makes it easy to detect automated threats.</p><h2 id="conclusion">Conclusion</h2><p>AI and ML are key components of SaaS companies. It can be used to automate activities and predict future outcomes. SaaS providers can use AI and ML techniques to improve their presentation. These systems can learn how to use a lot of data and apply it to their products. They can also be used to point out mistakes and make more informed decisions.</p>

How SaaS Companies Can Utilize AI And ML Technologies?

<p>The world as we know it is changing thanks to predictive analytics enabled by AI technology. Today, every industry has access to a huge amount of data. Finding gems that solve your business challenges, on the other hand, is as tough as sailing across the ocean in a fleet. The majority of existing technologies lack the ability or speed to analyze large data crowds and get insights from them. Predictive analytics tools that are AI-driven come in handy in this situation. These solutions have the potential to provide vital data insights for each company. Such SaaS technologies can be extremely beneficial for businesses with limited finances and time-sensitive initiatives.</p><p>In general, SaaS systems are diversified and growing in popularity with each passing day. Customer success teams are common in SaaS organizations, which is a well-known fact. And developers believe that boosting client satisfaction will boost income. Predictive analytics and SaaS systems can boost your company's success.</p><p><strong>Key Statistics</strong></p><ul><li><a href="https://www.mckinsey.com/featured-insights/artificial-intelligence/five-fifty-real-world-ai?cid=fivefifty-soc-twi-mip-mck-oth-1806&amp;kui=1EJ9eNZ-MV-uuDAyc2-RSA">According to McKinsey</a>, AI may unlock $2.6 trillion in marketing and sales value from $7.2 billion in 2020, representing an almost 200 percent growth.</li><li>The<a href="https://www.marketsandmarkets.com/Market-Reports/predictive-analytics-market-1181.html"> global predictive analytics</a> industry is expected to expand to $21.5 billion by 2025.<br><br></li></ul><h2 id="ai-powered-predictive-analytics-saas-platforms-techniques">AI-Powered Predictive Analytics SaaS Platforms' Techniques</h2><p>Here are six of the most popular predictive analytics SaaS platforms to get you started.</p><h2 id="quantitative-research">Quantitative Research</h2><p>Quantitative research is a technique for identifying patterns of behaviour that relies on mathematical and statistical modelling. It is numerically based and can be applied to any field in which numbers can be calculated.</p><h2 id="machine-learning">Machine Learning</h2><p>All advanced AI technology is built on this foundation. Machine learning helps machines to increase their 'thinking' abilities by learning from the patterns they process.</p><h2 id="neural-networks">Neural Networks</h2><p>Neural networks are systems that technologically imitate human neural networks. They're utilized to solve difficult AI challenges. The system is named after how it is arranged, comparable to human brain networks. It facilitates machine learning by utilizing specific algorithms.</p><h2 id="predictive-modelling">Predictive Modelling</h2><p>Predictive modelling employs past event statistics to forecast the future. It's vital to keep in mind that this type of modelling can be used in any scenario. Attempting to 'predict' previous events can demonstrate its usefulness.</p><h2 id="google-analytics">Google Analytics</h2><p>Google Analytics is a widely used data analytics platform that uses machine learning from Google to provide insights into your data. The tool's AI-powered advanced analytics form the foundation of many firms' reporting.</p><h2 id="helixa">Helixa</h2><p>Helixa creates technology and SaaS products that connect diverse datasets and extract advanced research insights from big data using artificial intelligence, machine learning, and other new technologies.</p><h2 id="predictive-analytics-platforms-powered-by-ai-are-the-future-of-technology">Predictive Analytics Platforms Powered by AI Are the Future of Technology</h2><p>AI-driven technology is causing a lot of buzz right now, and for a good reason. Although most people are unaware of it, AI is present in almost every aspect of our life, including technology. This presence is only growing because, according to McKinsey research, AI can handle more than 400 long-standing business difficulties, even at the current stage of development.</p><p>Small businesses and entrepreneurs can use the SaaS predictive analytics system to take advantage of AI processing power. In today's highly competitive economy, this service is very important. Without a doubt, technology will advance in response to the increased need.</p><p>It's vital to remember that new platforms must be compatible with existing technology. There are also legal ramifications to take into account. To protect both the developer and the user from legal action, all SaaS systems must include a well-thought-out agreement. As AI technology becomes more widely used, the problem becomes more complex.</p><h2 id="how-do-predictive-analytics-saas-platforms-deliver-insights">How Do Predictive Analytics SaaS Platforms Deliver Insights?</h2><p>The main benefit of using predictive analytics SaaS tools for your business is that you might receive results that go beyond merely showing you what's happening right now. They also advise on how to deal with the circumstance. As a result, a predictive analytics AI-powered platform generates real-time insights that may be deployed to achieve a competitive advantage.</p><p>The following are some examples of how predictive analytics insights might be applied in business situations:</p><ul><li>Creating tailored marketing efforts for a variety of audiences</li><li>Developing product enhancements that anticipate changes in client needs allows you to stay ahead of the curve.</li><li>Analyzing the competitors to come up with a unique selling proposition</li><li>Predicting business results in the face of changing global economic conditions</li><li>Identifying areas for improvement and automating many operations within the company.</li><li>Getting the most out of available resources</li></ul><h2 id="bottom-line">Bottom Line</h2><p>From e-commerce to healthcare, AI is revolutionizing every industry. It's difficult to imagine a company succeeding without big data. AI-powered SaaS services will continue to gain popularity as it is impossible to derive strong insights from data using only human intelligence. With machine learning technology improving with each application, we can expect breakthroughs soon. Developers that want to stay ahead of the curve should consider this and brainstorm ways to include predictive analytics AI into their products.</p>

SaaS

Predictive Analytics AI-Powered SaaS Platform: Explained

As we move toward the open enrollment period of 2022, states will move forward with innovation to reduce operating costs, increase policy flexibility and autonomy, and drive health insurance enrollment, leading to a SaaS-based state.

SaaS State-Based Marketplace Solutions For Healthcare Insurance?

<p>Since the introduction of the Affordable Care Act (ACA), states have had the facility to operate their health insurance marketplace in a Federally Facilitated Marketplace (FFM or health.gov), establishing a State-Based Marketplace (SBM), or a composite model called the State-Based Marketplace- Federal Platform (SBM-FP). As states begin to gain cost savings or gain more local policy control, they are moving to establish their exchanges (SBMs) with the FFM and SBM-FP models.</p><p>These committees come with a different set of technology challenges. The state's choice of a technology platform in building a state-based marketplace affects the overall success of policy ideas, budgets, timelines, and exchanges.</p><h3 id="state-based-growth-and-statistics">State-Based Growth and Statistics</h3><ul><li>Gartner forecasts end-user spending on public cloud services to reach $396 billion in 2021 and grow 21.7% to reach $428 billion in 2022.</li><li>25% of B2B SaaS Sales are headed to cloud Marketplaces.</li><li>Salesforce alone grew from $161 billion in January 2020 to $251 billion in September 2021.</li></ul><p>Below we take a look at customer exchange builds that affect speed to reduce risk and development time, technology transfer from another state, and systems that are software-a-service (SaaS) are provided by:</p><h3 id="custom-build">Custom Build</h3><p>In the early days of the state-based market, custom-built solutions were the only way to provide viable solutions. However, these solutions face challenges when responding to ever-changing needs and regulations.  Ongoing improvements, security updates, and additional features to enhance operational efficiency, all of which require continued investment beyond initial implementation.</p><p>Long-term growth times can also be a challenge when customers develop solutions.  Depending on the resources and skills available, users with 100% IT resources have time to design and develop state-of-the-art solutions. During this time of development, the needs and policies of the states may change, and possibly change, making this solution potentially obsolete.</p><h3 id="accelerated">Accelerated</h3><p>System integrators, which offer custom-built results, constantly address the use of accelerators to jeopardize solution implementation. However, these high-speed pre-built tools or widgets can be used as a building, some of which are functionally developed that are needed to deploy new exchanges, often as a box functionality. These speeds can certainly reduce the development time required for the initial development of the exchange, but they do not meet the ongoing maintenance requirements of the exchanges and the ongoing cost of enhancing the customer solution to ensure that the needs of the state are being met.</p><h3 id="open-source-based-custom-build">Open Source-Based Custom Build</h3><p>Open-source software is usually circulated in the public domain by one developer and made accessible to others as they see fit. This type works well for operating systems and is widely used in the components of the developer community support.</p><p>Purchased state-of-the-art healthcare IT solutions, such as Exchange, do not have the extensive developer support needed to maintain and enhance the platform.  Such solutions require that client states continue to invest in improving or expanding the platform as there is no financial incentive for independent developers or other entities to invest in the platform.</p><figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://iaxds62ruoojbg1k4180.cleaver.rocks/images/posts/589fd0e18a19b01a84bc264c33111f6f.png" class="kg-image" alt loading="lazy" width="792" height="461" srcset="https://techfastly.com/content/images/size/w600/2021/11/saas-application-development.png 600w, https://iaxds62ruoojbg1k4180.cleaver.rocks/images/posts/589fd0e18a19b01a84bc264c33111f6f.png 792w" sizes="(min-width: 720px) 720px"><figcaption>Source: Appscrip Blog</figcaption></figure><h3 id="software-as-a-service-saas">Software as a Service (SaaS)</h3><p>SaaS is a way of delivering software as a service that has grown rapidly in the private sector. SaaS vendors provide "on-tap" functionality by deploying their software in the cloud and taking advantage of a shared codebase between users. This method is very useful because it enables budgeting for development, infrastructure, and other costs, and does not force users to have large technical teams to maintain and support the platform.</p><p>Some of the best examples of SaaS we use every day include SalesForce CRM, Microsoft Office 365, and Google Docs, platforms that offer new features as part of a platform enhancement that is available to all users</p><h3 id="why-is-state-based-marketplace-more-user-friendly-for-everyone">Why Is State-Based Marketplace More User Friendly For Everyone?</h3><p>We give you better control of your health insurance market through our exchange technology. The state-based marketplace can be more user-friendly for everyone. It can be:</p><ul><li>Eliminate the risk of auto-renewal with Healthcare.gov.<br></li><li>Purchase and enrollment support for medical purchases, state subsidies, or tax credits.<br></li><li>Support the unique diversion requirements between Medicaid, Medicaid Purchase, and QHPs.<br></li><li>Provide administrators with the data they need to target access efforts in specific countries, cities, and towns.<br></li><li>Provide multilingual language support where appropriate<br></li><li>Support workflow that allows consumers to use their insurance cards (an issue that many states have seen in the past)<br></li><li>Enable advocacy with maximum use of health plan wellness services.</li></ul><h3 id="conclusion">Conclusion</h3><p>As we move toward the open enrollment period of 2022, states will move forward with innovation to reduce operating costs, increase policy flexibility and autonomy, and drive health insurance enrollment, leading to a SaaS-based state. Marketplace solutions will have access to acceptable technology.<br></p>

Write for us

Subscribe to Magazine