Is Your Data Gathering 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.
No, it’s not going to tell you jokes or respond to vocal questions—a common mix-up between machine learning and AI. But it will look at your data and draw conclusions based on a line of best fit among the datapoints. 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 that can translate into real returns, real growth and even real lives saved.
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