Machine learning isn’t just some new idea that people think is cool and creative. It’s actually something that many businesses are using to improve their operations and bottom line. Knowing different ways that machine learning can help your business might just motivate you to adopt it sooner rather than later now that it’s here.
Natural Language
If you have a business website, then you might consider adding a chat feature to communicate with customers or prospective clients. You could man this with human labor, but you might also use AI technology to simplify things. Machine learning can handle the natural speaking language of humans better than ever, so common inquiries might be handled without straining your payroll. The AI can even know when to turn things over to a human being.
Name Matching
Matching up names in data can be tough sometimes. Spellings might be different, you can wind up dealing with nicknames, and there can be initials. Typos also happen a lot. Machine learning that can match names gives you a more complete picture. All the data associated with a particular name will make for a broader profile and facts you can take action with. This kind of name matching can streamline your data processing.
Consumer Data
Your biggest strides and insights might seem like they’d come from data when you know their names and other personally identifying factors. However, you can learn quite a bit from analyzing general and anonymous customer data, as well. Find out patterns among your demographics about who buys what and when. Your products and services might have peak points that seem random until you discover the reasons behind sales volumes at particular times. Knowing these can help you create more of those conditions so you can trigger more sales.
Logistics
Machine learning can take data analysis to levels that people can’t. At least, they can do it faster than any person ever could. You can use this technology to look over your entire supply chain, warehousing, and distribution for any weak points, choke points, or areas of concern for improvements in efficiency. Smoothing out any kinks in your overall operations can make life much easier for all stakeholders involved.
Machine learning is one of many different technologies being leveraged in the business world right now. Whether your business is using it yet or not may not matter, as it will likely soon become standardized to the point that you’d fall behind without it.