Why Businesses Should Embrace Machine Learning

Why Businesses Should Embrace Machine Learning
Author

Ronald Van Loon

Last updated May 3, 2018


  • 2018 Views

If you’re still unsure of machine learning and it’s benefits, consider these scenarios

In 2016, Google’s net worth was reported to be $336 billion, and this is largely due to the advanced learning algorithms the company employs.

Google was the first company to realize the importance of incorporating machine learning in business processes. And the technology powerhouse doesn't stop at any given point; it keeps modifying its algorithms to better suit the needs of its users continuously.

And how does it accomplish the difficult task of observing the browsing pattern of thousands (or millions) of its users?

The answer is simple. By analysing the data, which it has accumulated by introducing machine learning to its business operating model.

This is just one example of how machine learning processes in the recording and processing of data can help businesses grow.

Here are three more ways in which machine learning can help various business sectors:

1. It removes  physical restrictions

If we have accomplished one thing by automating and digitizing business processes, it is that we have removed the physical limitations that restrict growth.

Before the technological age, what was the biggest problem faced by businesses? Operating within a limited space  accessible only by a limited number of people. For a designer, it was necessary to completely clear out the previous inventory before utilising the shelf space for new designs. By embracing machine learning and diving into the world of ecommerce, you don't ever have to worry about running out of shelves.

Want to know more about Machine Learning? Watch out this video.

 

2. It provides a deeper understanding of your consumers

With the introduction of automated processes, businesses have become increasingly consumer-centric.  In order to cater to your customers' needs in ways that separate you from your competition, you as a business owner have to understand the needs of your consumers.

If you do not deliver what consumers are looking for, there is a high probability that you will lose  potential customers to  competition. Machine learning plays an important part in solving the mystery of consumer preferences. All required information is hidden behind the data accumulated by the business. You just have to crunch the code, and voila—you know what your customers are actively searching for.

3. It automates processes, thereby boosting efficiency

Imagine standing in line in a supermarket; someone with a long haul is standing ahead of you and the cashier’s machine suddenly breaks.  It’s a nightmare, right? You could be spending those precious minutes watching your favourite series on Netflix.

Now imagine that the machine is not broken but in fact was never invented. The cashier has to manually enter every purchase and compare it against the existing inventory. Incorporating automated processes to record inventory stock and purchase order data is not a luxury, it’s a necessity in today's world. Machine learning has increased the efficiency of businesses and minimized the room for error.

Now that you know how Machine Learning helps businesses, would you like to watch the Machine Learning Course Preview? Click Here.

Find our Machine Learning Online Classroom training classes in top cities:

Name Date Place
Machine Learning 25 Aug -22 Sep 2018, Weekend batch Your City View Details
Machine Learning 31 Aug -28 Sep 2018, Weekdays batch San Francisco View Details
Machine Learning 8 Sep -6 Oct 2018, Weekend batch New York City View Details

About the Author

Ronald is named one of the 3 most influential people in Big Data by Onalytica. He is also an author for a number of leading big data & data science websites, including Datafloq, Data Science Central, and The Guardian, and he regularly speaks at renowned events.


{{detail.h1_tag}}

{{detail.display_name}}
{{author.author_name}} {{author.author_name}}

{{author.author_name}}

{{detail.full_name}}

Published on {{detail.created_at| date}} {{detail.duration}}

  • {{detail.date}}
  • Views {{detail.downloads}}
  • {{detail.time}} {{detail.time_zone_code}}

Registrants:{{detail.downloads}}

Downloaded:{{detail.downloads}}

About the {{detail.about_title && detail.about_title != null ? detail.about_title : 'On-Demand Webinar'}}

About the {{detail.about_title && detail.about_title != null ? detail.about_title : 'Webinar'}}

Hosted By

Profile

{{author.author_name}}

{{author.author_name}}

{{author.about_author}}

About the {{detail.about_title && detail.about_title != null ? detail.about_title : 'Ebook' }}

About the {{detail.about_title && detail.about_title != null ? detail.about_title : 'Ebook' }}

View {{detail.about_title && detail.about_title != null ? detail.about_title : 'On-Demand Webinar'}}

Webcast

Register Now!

Download the {{detail.about_title && detail.about_title != null ? detail.about_title : 'Ebook'}}!

First Name*
Last Name*
Email*
Company*
Phone Number*

View {{detail.about_title && detail.about_title != null ? detail.about_title : 'On-Demand Webinar'}}

Webcast

Register Now!

{{detail.about_title && detail.about_title != null ? detail.about_title : 'Webinar'}} Expired

Download the {{detail.about_title && detail.about_title != null ? detail.about_title : 'Ebook'}}

Email
{{ queryPhoneCode }}
Phone Number

Show full article video

Name Date Place
{{classRoomData.Date}} {{classRoomData.Place}} View Details

About the Author

{{detail.author_biography}}

About the Author

{{author.about_author}}