Machine Learning
Your organization’s data could hold the answer to some of your biggest questions
What is Machine Learning?
Data science and machine learning, the tools and technology often associated with ”AI”, are more mature in many ways and can transform a business at a more fundamental level. There is an underutilised goldmine of data in every business that may be hiding the answers to some important questions such as: What makes a deal likely to close? Which products will succeed and fail? Which market segments should we be talking to?
Machine Learning Applications:
- Predicting when systems and parts will fail to enable proactive maintenance.
- Identifying fraudulent transactions and clients
- Predicting the success of a product or item and highlighting which factors make particular products popular or unpopular
- Predicting the likelihood that a discount will help close a deal or which customers are thinking about abandoning your brand
- AI-driven logistics scheduling
Refine the questions
What are the big questions that drive our business? Even the ones we think we know. What are the important questions that we aren’t asking?
Evaluate your raw data
What data do we have that could shed light on the questions? What additional data can we obtain? What actions need to be taken to ensure higher data quality in future?
Process the data and refine the AI models
Process the data to understand the correlations and unravel the hidden features. Build machine learning models to make predictions and evaluate the historic predictability of the models.
Run real-world experiments
To untangle correlation/causation confusion, predictions and correlations need to be tested against the real world in controlled ways that don’t put the business at any serious risk. Real-world experimentation, often in the form of A-B tests, is a key ingredient to becoming a data-driven organization and the craft of data science.
Take the findings and repeat
Machine learning has the ability to bring predictability and optimization to organisations, which was simply not possible in the past. It enables a business to have predictive maintenance schedules, minimizing logistics and minimizing failures with less staff. Customers can have an entirely personalized experience that will feel more human and less like advertising.
Unlock business opportunity with Machine Learning
Discover insights into your business processes, client behaviour and operational tactics
Predict outcomes based on intelligent, continuously improving models
Make better decisions based on data that is clean and accurate