Retrieval-Augmented Generation (RAG) is a powerful AI tool that combines the strengths of both data retrieval and content generation, providing businesses with a way to make quicker, more informed decisions. RAG pulls from vast datasets to find relevant information and then generates concise, accurate insights, allowing decision-makers to act faster. With its ability to analyse data from multiple sources in real-time, RAG is becoming the holy grail for businesses looking to streamline operations and boost efficiency.
We recently tested Google Notebook LM’s RAG functionality by sifting through 65 pages of Waverley Council rules to find the guidelines for how pergolas should be used. The AI not only parsed through this massive document quickly but also provided a clear, concise summary of the relevant sections, helping me easily retrieve the necessary information without manually reading through pages of content.
This is a perfect example of how RAG can be the ultimate tool for your entire business, putting data-driven decision-making at your fingertips. Imagine a large automotive company trying to decide whether to invest in a new piece of machinery. By crunching data from financial reports, market trends, and operational costs through Google Notebook LM, the company can receive not only a final decision but also a confidence percentage—let’s say, over 90% likelihood that it’s a sound investment. This ability to make informed decisions quickly is what makes RAG so valuable for businesses in any sector.
Top 10 Common Inputs to a RAG for Medium-Sized Businesses
Here’s a checklist of some of the most common data inputs a medium-sized business could use to harness the power of RAG:
- Payroll Data
- Employee Handbook
- Customer CRM
- Sales Data & Reports
- Inventory Management Data
- Financial Statements
- Marketing Campaign Data
- Customer Feedback & Reviews
- Product Performance Metrics
- Market Trends & Competitive Analysis
These inputs help businesses like yours consolidate and analyse data from various sources, allowing you to make well-informed decisions in real time.
If you’d like to learn more about how AI can help you grow, consider attending a Nimbull AI Training Day or reach out for AI Consulting services.