As a decision maker, you’re always looking to increase business productivity, efficiency and turnover. You’re well aware that there are technologies out there that can help you, but there’s questions you’d like answered which might encourage you to take the leap. Let us help.
What is AI and Machine Learning?
To put it simply, AI is intelligence exhibited by computers. Machine Learning is a subfield of AI, whereby computers have the ability to learn and develop without being specifically programmed.
How does Machine Learning work?
Using a multitude of analytical programmes, algorithms are developed and refined within a process in accordance with your business questions. Machine Learning uses the history of your current data and detects patterns within it and adjusts its future actions accordingly.
Its main aims are to clean your data and make predictions towards future data sets. Machine learning statistical methods such as clustering, regression and classification are used in predictive analytics.
What can Machine Learning do for my Business?
Machine learning in its simplest form will automate repetitive tasks such as data collection, sorting, entry and transformation. This saves your business both time and resources. In a more refined form, it’s able to tell you how and where your business is being successful, and make predictions regarding your business’s future.
Where should I start?
To be able to apply machine learning, you’ll have a problem which needs solving and data relating to the problem. Your data can preferably be in a structured form (within a database) or an unstructured form (emails and social data).
Is Machine Learning Expensive?
It all comes down to the process you use, and whether you want to go bespoke or off the shelf. Whilst off the shelf is typically pas as you go, their algorithms are limited in flexibility. Bespoke packages typically test and refine the models. Pilots start at a few thousand pounds and can rise with increased development.
For more help on deciding whether AI is right for your business, read our recent blog post here.