The machines are here, and they’re learning. Machine learning is already changing the world, and potentially your business too—with the power to enhance your ability to compete in the near future. As a key subset of AI, it enables computers to act and learn on their own, without being specifically programmed, by utilizing data and experience rather than being explicitly programmed. Such features are finding application across industries, and establishing their presence in our day to day lives. This Machine Learning white paper explores the below aspects:
- Reasons for Organizations to Become Data-driven
Organizations today are drowning in data, and it increases in volume exponentially every day as we constantly generate more of it. Everything from web browsers to networked devices, internet-connected appliances and equipment sensors creates an endless and ever-growing amount of information. Over 2.5 quintillion bytes of data are created every single day, and that number keeps going up every second. Estimates predict 1.7 megabytes of data will be created every second by 2020.
- Ways Machine Learning can Help Different Functions Grow Within an Organization
Organizations can automate business processes by using machine learning to improve their competitiveness is to automate back-office processes, the vast majority of which are high volume, freeing up employees’ time for achieving more strategic company objectives.
AI and machine learning are already commonplace tools for digital marketers. This evolution will evolve and expand in the next few years as data multiplies, and organizations can use new models and devise new tactics for their marketing efforts. Machine learning can provide organizations with the perfect tool to implement the age-old brand marketing mantra of getting the right message to the right audience at the right time.
One of the things that machine learning is particularly good at is examining the customer journey. Algorithms can determine what separates high-value customers from low-value ones, so organizations know where to focus their sales efforts. Organizations also need to provide faster customer service responses, for which all data about the customer’s journey, including issues, and previous interactions must be integrated. Machine learning makes this a smooth and seamless possibility.
- Reasons to Immediately Adopt Machine Learning For Your Business
Taking a “wait and see” approach with machine learning is no longer an option, especially for organizations in competitive industries. Most of the organizations face the peril of lagging behind the technology curve, and if they’re just beginning the strategy phase of bringing machine learning into their competitive toolkit, they need to leg-up, as machine learning quite plainly represents the next phase in the evolution of analytics.
Download this Machine Learning white paper to know the impact and effect of Machine learning, it’s use in various organizations (of any type or size), and how it can make your business more competitive than ever.