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Transforming Your Business Using Machine Learning

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Transform Business Using Machine Learning

In Artificial IntelligenceBlog

Artificial intelligence (AI) is a boundless field which covers things like cognitive computing and machine learning. For a lot of people, artificial intelligence and machine learning are just the same, not be aware of the difference.

In a nutshell, artificial intelligence is the general term or category to define the idea of machines being able to execute tasks that we label as smart. On the other hand, Machine learning is a concept within the kernel of artificial intelligence which keep the machines to analyze by themselves according to the given data.

You might be asking: So what? What machine learning (ML) can do for your business?

Business Impact and Machine Learning

How can you know the responsive use case of machine learning in your business? To get to know, you need to analyze the task to be solved with the available data considering the feasibility, intuition, and expectations. Before heading to find the solution you need to distinguish between learning problems and automation problems.

Machine learning automates your businesses, but not all automation tasks require learning. Automation without learning is suitable when the task is relatively straightforward. So you need to have a clear, predefined sequence of steps about the kinds of tasks that are currently being done by a human. With the use of machine learning that could be transitioned feasibly to a machine. So what sort of business tasks require machine learning methods?

Use case of machine learning

The cases you can make use of machine learning includes probability check for certain type of user will click on a certain kind of ad, or to cross check or compare a piece of content or image which is similar to earlier you have seen. The cases you can’t make use of machine learning include predicting profits from the initial stage of a completely new and revolutionary product line or extrapolating next year’s sales from past data when an important new competitor just entered the market.

Once you identify that you are ready to reap the benefits of machine learning for your situation, the next step is to know what you want to predict or detect analyze. In that case, make sure that you have enough set of data to analyze to build predictive models.

How You Can Transform Your Business Using Machine Learning

Machine learning is one of the technologies that will transform a world with far less transactional friction, amazing cures, and much smarter machines. Machine learning can uncover hidden value in your business to improve your operations and become profitable.

Today, technology has advanced to enable businesses to commerce on the intangible, but the ideas and relationships are much harder to measure and manage than production and inventory. Machine learning and big data analytics possibilities offer marketers to analyze data to identify trends and manage the intangible. Machine learning can transform businesses incredibly when it comes to enhancing your brand value.

Conclusion

Machine learning is not right for every task, but machine learning has an amazingly wide range of application across industries. Many businesses have yet to understand the full potential of machine learning as the benefits range far beyond simply increased productivity and faster supply chains.

Machine learning is the key to gain insights and keep pace with competitors as the amount of data is too vast for humans to adequately mine and leverage. Make use of machine learning for insights at every touch point in business operations to explore more opportunities.

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