Is Your Data Collecting Dust?
One of the greatest untapped tech benefits for business is in machine learning—an algorithm that goes beyond its programming to detect patterns and analyze data for you. Machine learning is a field in AI that uses the data and algorithms found to run successfully without instructions. People, phones and computers can all generate this data. Essentially, data is being used to answer questions and predict human tasks. For example, Google Search has hugely adopted machine learning; when a user types in certain words, Google automatically guesses what route the user will take by displaying multiple different options. It is quickly becoming a necessity for businesses because it predicts future outcomes and trends. Machine learning is constantly adapting to a shifting landscape, which in turn, keeps a company in line with the current data.
How Machine Learning Can Help Your Business
Using Predictive Data to Stay Ahead
Machine learning interprets your data and draws conclusions based on a line of best fit among the data points. What that means for you is a software platform that finds discrepancies or hidden insights such as drawing conclusions from customer behaviors—and letting you know it’s a good time to send them a coupon.
Machine learning can even identify high-risk patients in hospitals, aid in determining accurate diagnoses, and select which medication to use to treat them. It’s often used to make predictions in the financial industry, interpreting data to figure out risk factors in loan underwriting—just to name a few.
The best part is that it learns from you and from itself. Machine learning typically gets better over time. Taking in limitless information, expanding with your data sets, and discovering causal relationships can translate into real returns, real growth and even real lives saved.
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