Part 6/13:
The entire analytical domain is segmented into three broad categories:
Automation: Streamlining processes to increase speed and standardization—e.g., automating model performance monitoring via APIs.
Optimization: Enhancing decision-making quality—e.g., improving fraud detection accuracy or marketing spend ROI.
Innovation: Transforming business models—e.g., developing new service offerings or leveraging new technologies like contextual decisioning with large language models (LLMs).
Examples arise across industries like banking, where automating suspicious activity investigations or diagnosing customer churn via advanced NLP techniques can significantly impact operational efficiency.