Machine learning (ML) and artificial intelligence (AI) can be extremely helpful for operators in making data-based decisions.
According to Wharton, “AI is used by businesses more frequently than you might realize. From marketing to operations to customer service, the applications of AI are nearly endless.”
So, how can you use these tools effectively for your fitness business?
Here, Erin Oncken, the director of sales and marketing at MOTUS Consumer Insights, shares four tips for using ML and AI for business success:
- The buzzwords of AI and ML can get in the way of focusing on functional efficacy. Instead of focusing on “must-have” AI/ML, begin with a clear understanding of the pain points in your consumer journey that automation can solve for.
- You may think it’s too expensive and out of reach, but even if you can’t make instantaneous, sweeping changes through AI/ML, take the first steps.
- Start by getting your data in order and doing an audit with your team. Clean up what you have and identify what you’re missing. Then put the systems in place to ensure you are collecting quality, structured data that will support your AI/ML needs going forward.
- Look for vertical AI/ML solutions versus horizontal ones. The need for data-driven solutions has exploded, and horizontal AI/ML approaches tend to be costly and are built to serve large enterprises. Vertical, or purpose-built, AI/ML solutions — such as those built for acquisition and retention — can provide a cost-effective way to compete.
As we enter a new year, don’t sleep on AI and ML. According to Wharton, “By embracing AI and machine learning, companies are finding innovative ways to help business performance.”
