We all remember that 2001 box office smash with Jude Law and the robot kid which was a taste of Artificial Intelligence and a hint at what the future had in store. The world may not be run by robots, but Machine Learning is fast becoming a necessity and should be integrated into the day to day running of your business.
Let’s face it, we as humans aren’t perfect nor as meticulous as our data banks require us to be and so Machine Learning can majorly pick up the slack and help businesses to clean up their data act.
Employees may fear that machines will take over their jobs but it is important to highlight to your teams that Machine Learning can only offer more opportunity, according to Accenture in a recent report:
“Survey respondents said emerging technologies will augment existing roles rather than replace them.”
From retail forecasting to online fraud detection, Machine Learning is helping businesses to come to conclusions and gain experimental results more efficiently and more consistently then ever before. As more and more data is inputted into the machine it becomes more intelligent and holds onto each piece of data. Over time will build up a much better picture of your customer, their spending habits, who they are and how valuable they are to your business.
Simply put, the machine does the learning where before humans would have to input the code. Machine Learning requires input and output data which it scores itself against via algorithms and the machine can then use the model which it has already built to predict the outcome results.
Machine learning is helping more and more banks crack down on fraudulent activity by working with the algorithms of the customers bank accounts to predict their spending habits, and through machine intelligence the models are able to alert customer to fraudulent activity. The power of machine learning and Fraud Data Analysts combined enables the department to work with richer data and therefore building up a better picture of who, where and when these fraudulent activities take place thus being able to stop them before they happen in the future.
For the Public Sector, Machine Learning is imperative for improving services for the future. Data Analysts can work with higher visibility and effectiveness thanks to algorithms, Public Sector companies can gain insights into local communities which can help to anticipate and detect any potential issues and huge amounts of data can be stored safely thanks to the Cloud.
Machine Learning allows you to get to know your customer and business even better and more efficiently. Microsoft Azure, paired with Power BI and Cortana Learning equal a future of business built on customer insights and cleaner data.
If you would are interested in learning more about Machine Learning for your business, contact us here!