Business is all about providing an uninterrupted and customer-friendly service to the people. In this era of tech, highly customized products are being launched which customize ‘on-their-own’ according to the needs and requirements of a particular customer. Been there? Wondering what exactly is the phenomenon that allows the products (mobile phones, apps, laptops) to be this much customized and user-friendly? It is an application of Artificial Intelligence called ‘Machine Learning’ (ML)
What is Machine Learning?
Technically, Machine Learning is the process of analyzing the data and then automating it to generate analytical model building. The concept is that we can feed or program a machine in such a manner that it can learn the data, identify patterns and make decisions with minimal human intervention. It’s very interesting to know that the machine can actually ‘learn’ from the given data and then provide results and figures itself! Using this technology machines can analyze what is being searched or fed in it and then suggest results according to the needs of the user.
So, isn’t it cool enough? I’m sure you want to read below for some ways in which you can use ML to upgrade your business with minimal investment!
Top ways to get leverage from Machine Learning:
The biggest advantage of machine learning in the co-operate world is that one can use this technology and get the benefit without any risk factor involved. Nowadays many companies including Google, YouTube, apple etc. are using Machine Learning to provide highly customized search engines, mobile phones etc. Many companies are integrating ML to innovate their respective businesses. Below I will four ways to incorporate ML in your business:
Exceptional personalization without much investment:
Companies are always looking for ways to improve their customer care services with the least investment and human errors. This is what exactly machine learning is offering. It saves the information and then provides accurate suggestions and answers to customers questions which makes their lives easy and they get satisfied.
The investment is very less with no human errors and great results. It allows applications on the smartphones to be customized according to the respective customer. The smartphones which are integrated with ML provide customized settings to their customers so that every user’s needs are being fulfilled.
Hassle-free hiring and recruitment process:
Looking for employees, interviewing, short-listing and hiring is a tiresome process. It needs a lot of work and energy and it is also not 100% transparent in most of the cases due to human biases and inaccurate questions. But not when you have used machine learning and automated the hiring process! Thousands of applications are sorted out according to the job needs and all the valuable candidates are directed to the relevant job fields after analyzing their credentials.
The assessments/written tests are also analyzed via machine learning to avoid biases and human errors.
Automated financial management:
Machine learning is a great source to manage the finances of a company efficiently. All the payments can be received and delivered through ML and the invoices can be analyzed in no time. This makes the finance department very transparent as no one can make changes in the payments etc. All records are saved and it can be easily assessed that where and when money has been utilized. It saves both time and money.
Up-graded marketing strategies:
Marketing and management can be modernized through machine learning. Data from social media and other forums can be collected and sorted in a way to make your business a success. The customer’s records are saved and they are offered exactly what they want. Through ML, you can also easily access what’s demanded by the clients.
If you want to create a brand then using ML you can easily decide what type of logos and content you can use to market your business way more efficiently.
So, all in all, machine learning provides a great way to make your business a success with the least investment and more options. Today, every other leading company is incorporating machine learning in their business, thus providing highly efficient and customized products to their clients.