Machine Learning is changing the way industries operate. Things that once were people managed are being automated. Today we’re going to discuss a three ways machine learning can help your company gain a competitive edge in today’s market.
Automate the boring stuff and focus on the most important challenges. In every organization, processes exist that requires minimum human involvement to complete the task. By automating the simple task that requires minimal to no human involvement your organization can direct resources to the most challenging tasks. In conclusion, machine learning can help you become more effective.
Building a robust recommendation tool can improve the accuracy of number-driven decision making. For example, your online advertising success is depending on keyword success over given time periods. By having a Recommender tool to choose the best keyword based on historical data can benefit an organization in several ways. Some of the benefits include increasing accuracy, reducing resource needs and cost long term.
Using historical data to develop a game plan for future objectives can help you create a competitive edge.
For example, we recently did an analysis on bike-share data from 2014 to 2016 in the Seattle area. We discovered that the most popular places users would park the bikes once finished. This information is an important insight for any bike-share startup company in the Seattle area. As a result of knowing popular drop-off locations, you can predict where you should places bikes in the future.
Alex Brooks is the founder and CEO of AE Brooks, LLC (d/b/a, Entreprov), a Seattle-based firm that builds custom tools to help businesses increase customer retention and engagement.