A known fact is that machine learning is a field in computer science that focuses on developing algorithms that can adapt or ‘learn’ data and make predictions. The need for machine learning has increased beyond obvious businesses like those that have digital products or that have a huge Internet presence because these days even non-digital business can still use machine learning to solve some business challenges.
It is good to note that machine learning has been applied in almost every field such as developing games to business applications like marketing and machine learning applications are no longer confined to large businesses or technology giants. Small and medium businesses can also benefit small business and some of these possibilities are discussed below. One business application is predictive analysis because each data more and more data is being churned out and with such amounts of data a machine learning strategy can take advantage of this data to provide useful predictions that can aid small businesses make decisions regarding sales forecasts and even identify customers that may be at risk.
The truth is that big data is complicated and dynamic thus changes so frequently over time and the traditional computing methods may not be suitable in analyzing such data to get the desired facts fast enough for the business to act. An amazing fact to state is that machine learning algorithms on the other hand can quickly make sense of data and come up with the facts that are of interest to the business.
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An incredible fact to state is that the development of applications has also influenced the creation of applications because with the help of machine learning algorithms new solutions that could never be realized before are now possible. There are some companies are now adopting deep learning methods that enables computers to comprehend videos thus they can be able to determine when the best time to advertise a certain product is.
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Another application is in coming up with clean data which is better than big data because one may have a lot of data from the past that is not relevant today. The impact of irrelevant old data is felt in areas where business processes rapidly evolve each year like e-commerce. Making use of machine learning the business owner can clean the data to check what data is relevant for the business and which data does the business need to discard.
The applications shown above are only a drop in the ocean of how machine learning experts can help small business. A known fact is that these business solutions are ever changing since machine learning is a field that is rapidly expanding and changing thus hiring a machine learning expert may be the most important decision that any business owner needs to make.