Machine learning is getting a great deal of attention lately, particularly in terms of helping businesses by reducing human effort for performing even complex tasks. ML is capable of identifying patterns that can be found within massive amounts of data with remarkable precision and turning that insight into intelligent recommendation. Below are a few of the growing number of business problems that are now being solved using machine learning technology.
Turning Data into Action
There are 2.5 quintillion bytes of data created each and every day – a pace that’s accelerating rapidly. With such an enormous amount of information out there, it’s hard enough to capture it, let alone extract what is useful. Data visualization involves the automatic gathering, analyzing and compiling data in a way that the average human can easily understand.
Adding machine learning introduces predictive outcomes into the mix. In other words, data visualization will monetize large datasets for visual representation; machine learning leverages that data to provide decision support to business leaders.
In the not-so-distant past, designing a chatbot was a tedious undertaking that required a lot of time and manual code writing. Today, machine learning technology has made it easy to develop automated chatbots for use in messenger apps or on websites.
These advanced electronic agents are capable of holding relatively complex conversations with customers and delivering support without the need for human intervention. They do this by taking the input queries from users and predicting the answer for context. Best of all, with a platform like Ayehu, chatbots can be created with zero coding, which means just about anyone can do it.
Analyzing Consumer Behavior
Predicting upcoming consumer trends has never been easier, thanks to artificial intelligence and machine learning technology. The more connected we become as a society, the more data we produce and the more valuable information about customers – their behaviors, their preferences and their needs – becomes readily available.
Machine learning can instantly, automatically and thoroughly analyze that data to provide highly accurate predictions for more data-driven decision-making. With this information in hand, organizations can hone everything from their marketing strategies to their product design to better suit the needs of their customers, creating more loyalty and better market position.
Without question, machine learning technology is responsible for driving business growth, not just through the automation of routine tasks, but through advanced decision support. More and more organizations are leveraging AI to help predict future outcomes, avoid risks and develop plans to improve their bottom lines.