Machine Learning Becomes Mainstream: How to Increase Your Competitive Advantage

Machine Learning Becomes Mainstream: How to Increase Your Competitive Advantage

Machine Learning Becomes Mainstream: How to Increase Your Competitive Advantage

First there was big data – extremely large data sets that made it possible to use data analytics to reveal patterns and trends, allowing businesses to improve customer relations and production efficiency. Then came fast data analytics – the application of big data analytics in real-time to help solve issues with customer relations, security, and other challenges before they became problems. Now, with machine learning, the concepts of big data and fast data analytics can be used in combination with artificial intelligence (AI) to avoid these problems and challenges in the first place.

So what is machine learning, and how can it help your business? Machine learning is a subset of AI that lets computers “learn” without explicitly being programmed. Through machine learning, computers can develop the ability to learn through experience and search through data sets to detect patterns and trends. Instead of extracting that information for human comprehension and application, it will use it to adjust its own program actions.

Read Also:
Professional Sports Get Makeover From Big Data

What does that mean for your business? Machine learning can be used across industries, including but not limited to healthcare, automotive, financial services, cloud service providers, and more. With machine learning, professionals and businesses in these industries can get improved performance in a number of areas, including:

In their raw data, large and small data sets hide numerous patterns and insights. Machine learning gives businesses, organizations, and institutions the ability to discover trends and patterns faster than ever before. Practical applications include:

Intel has worked relentlessly to develop libraries and reference architectures that not only enable machine learning but allow it to truly take flight and give businesses and organizations the competitive edge they need to succeed.  In fact, according to a recent study by Bain (1), companies that use machine learning and analytics are:

In other words, predictive data analytics and machine learning are becoming necessities for businesses that wish to succeed in today’s market. The right machine learning strategy can put your business ahead of the competition, reduce your TCO, and give you the edge your business needs to succeed.

Read Also:
Intel's transition to the Internet of Things is necessary, but costly

You already know that machine learning is essentially a form of data analytics, but where did it come from and how has it evolved to become what it is today? In the past couple of decades, we have seen a rapid expansion and evolution of information technology. In 1995, data storage cost around $1000/GB; by 2014 that cost had plummeted to $0.03/GB (2). With access to larger and larger data sets, data scientists have made major advances in neural networks, which have led to better accuracy in modeling and analytics.

As we mentioned earlier, the combination of data and analytics opens up unique opportunities for businesses.

 



Data Science Congress 2017

5
Jun
2017
Data Science Congress 2017

20% off with code 7wdata_DSC2017

Read Also:
Connecting the dots: How the customer data platform solves what ails marketers

AI Paris

6
Jun
2017
AI Paris

20% off with code AIP17-7WDATA-20

Read Also:
Connecting the dots: How the customer data platform solves what ails marketers
Read Also:
Machine learning is the new Big Data

Chief Data Officer Summit San Francisco

7
Jun
2017
Chief Data Officer Summit San Francisco

$200 off with code DATA200

Read Also:
Professional Sports Get Makeover From Big Data

Customer Analytics Innovation Summit Chicago

7
Jun
2017
Customer Analytics Innovation Summit Chicago

$200 off with code DATA200

Read Also:
5 ways AI will impact the global business market in 2017

Big Data and Analytics Marketing Summit London

12
Jun
2017
Big Data and Analytics Marketing Summit London

$200 off with code DATA200

Read Also:
Introducing Graphaware Databridge: Graph Data Import Made Simple

Leave a Reply

Your email address will not be published. Required fields are marked *