How Companies Use Machine LearningDecember 16, 2018
Machine Learning and data processing has changed drastically the way things work inenterprises and even our daily lives. Digital technology has been able to enablemachines with ML software and algorithms to process intelligently and unsupervised the large volumes of data generated. The advent of the internet and such limitless uninterrupted data processing has generated many an error-free gainful insight.
Businesses can now transform to the high-efficiency mode where profits increase by creative use of employee time in using the insights and forecasts provided by machine learning, data analytics, big data processing, and accurate predictive analysis.
What are companies using ML in?
Learning and Scanning data images, text and voice: Repetitive tasks and tasks that are labour-intensive are now a one-step zero-error machine process. Digitizing data has scored in the following areas.
- Data entry, documentation and report generation: The way data is processed, the volumes of data available, used and predictive analysis of data analytics have impacted lives and businesses to upgrade and upskill for better efficiency and profits.
- Image Interpretations: Complex insights are possible with accurate predictive insights which have huge ramifications in the film, media, health, banking, insurance sectors and more.
- Previewing videos: Data previewing in video form can help to process in speeds far higher than humans could ever think of. They can also match the videos to preferences of people, match advertisements to these, edit and curate video footage in fractions of a second! The advertising, marketing, media, film, and video industry has been transformed forever. The revenues generated with accompanied efficiency and speed has led to collaborations of machines and humans in a positive manner.
Uncovering and forecasting insights: ML has truly transformed the way we function with computers and ML replacing routine, repetitive tasks. Notably, the following sectors have improved tremendously.
Monitoring Markets: Mining of big data can result in time-saving and provides lead time in relevant and urgent monitoring of opportunities. News channels, competing in the business world, taking corrective actions and strategising have become a matter of nanoseconds with ML.
- Root cause analysis: This technique used in production lines can predict and forecast failures of tasks, identify the root cause of the issues, suggest strategy changes required and generate alerts in these conditions.
- Predictive maintenance: This tool is most effective in its forecasting abilities and ensures there will be no downtime in functioning.
- Predictive modelling: ML has enabled matching customer profiles and preferences to products available and browsing history-making auto-suggestions a routine affair. The huge potential of generating through advertisements matched to such preferences can generate more efficiency and high revenues.
With the advent and use of ML in everything you do, there is an urgent need for collaborators who can tweak software, create new applications, use the predictive and forecasting alerts and insights gainfully to improve profits, efficiency and save time, effort and costs. It is still early days and the right time to upgrade and re-skill with machine learning courses that will enable smart and creative use of machine learning benefits mentioned above.
Big data Hadoop training courses are also required to help ML understand and use the mind-boggling quantities of data that is now usable. Without the will to effectively use data and the training needed to adapt you will be left far behind. The situation today is adapt, or stay behind!