Among the latest advances in technology, the concept of Machine Learning is mentioned a lot. This discipline is fully operating and has many practical applications. In this post, we approach what is, what serves and its advantages in a simple way.
What is Machine Learning?
It is a Mathematical Sciences´ discipline which is connected to Artificial Intelligence (AI). Its purpose is to create systems that can learn on their own. Machine Learning refers to machine´s ability to analyse large volumes of data and create an algorithm.
From the learning of these data, future behaviour could be predicted. Moreover, the success rate is high and the error rate is low. The systems are improving autonomously over time.
The machine introduces new information into a database without the intervention of humans. Therefore, the level of analysis is growing with the new data. To get valuable information is a great competitive advantage.
The good thing is that there are simple and user-configurable tools. It is not necessary to be a data expert to benefit from these technologies.
The evolution of Machine Learning
The concept of Machine Learning is not new. In 1950 the mathematician Alan Turing raised the idea that in the future machines would think.
Currently, the novelty lies in the automated learning capacity of machines. They can make accurate predictions through massive data analysis. This reality has been possible thanks to statistics and computer science.
The utilities of these machines are a reality in different sectors. For example, medicine, safety, restoration, etc. The information helps boost business achievement.
A very everyday example of Machine Learning is the recommendations made by Netflix. Or also the products that Amazon offers you as interesting. It analyses detailed data on products, series, etc. for which each user is interested in making a recommendation.
Advantages of Machine Learning for companies
The application of Machine Learning is a great challenge. Companies implement business management software using these processes for their great advantages. Some of them are the following:
- Needs, tastes, etc. of customers are known so that a better experience can be provided. It is also easier to retain consumers.
- Communication with customers is more fluid. For example, chatbots allow continuous attention to consumers. The data obtained and analysed help improving customer service.
- The interpretation of a multitude of data allows predictions of trends and needs. For example, production cycles can be optimized.
- Innovation and the search for new solutions are encouraged. Therefore, it facilitates the development of new products or services.
- The experience in E-commerce is more personalized because the behaviour of customers is analysed.
- Companies have the right data when making decisions. Increase the possibility of choosing the most successful option.
- Improve personnel selection processes. The analysis of the information about the candidates helps to select the most suitable.
- Information on competition and markets is greater. Accurate data analysis is a competitive advantage.
- Prediction of attacks or identify offenders so that it helps computer security.
- Automation of internal processes, which allows detecting failures and improving maintenance. For example, it is very useful in the logistics or distribution sector.
Machine Learning is useful for companies in any sector. It helps to develop new business ideas, establish strategies, reach potential clients, etc.
Some companies collect a lot of information but do not know how to focus on the analysis and use the data. However, if implant configurable software management and integrates processes and communications, this will not be inconvenient.
The relevant thing is that companies can exploit their full potential and take advantage of the opportunities offered by digital transformation. Big Data management is essential to achieve a competitive advantage.