Machine learning is linked to artificial intelligence , and is based primarily on the idea that systems learn from data, identify patterns, and make decisions with minimal human intervention. Through algorithms, it is possible to make predictions or suggestions calculated to achieve the best results and with less chance of error.
Learning more about this automated data analysis method can help you demonstrate greater understanding of market intelligence tools and make strategic decisions for your company.
Continue reading our post to learn more about this subject! Enjoy your reading.
How machine learning helps in decision-making processes
Machine learning was born from the theory that machines can malta whatsapp data without being programmed to perform tasks. In an attempt to find patterns or results, these tools use algorithms and methods to achieve the desired goal. They mainly use statistics and computation to extract some important meaning in decision-making.
For example: In the past, machines only responded to what they were programmed to do. Car assembly line machinery is a good example. Each machine is responsible for a part of the vehicle until it is built and finished.
With machine learning, machines learn from their mistakes. This happens because, through algorithms, they can store and create a history of data, generating continuous learning. And not only that, they learn to optimize their function. Returning to the example of the car manufacturer, with machine learning they could learn the fastest and most efficient way to assemble the car while using less energy.
Daniel Bergmann, a professor at Saint Paul Business School, says that machine learning is a very useful tool for decision-making. For example, to predict the units of a given product to be sold and the variables that influence this demand, it is enough to compare some data such as consumer behavior, sales level, age, zip code, product price and regional characteristics. “It is a very useful tool, where we try to put these equations precisely for decision-making,” he explains.
One application in our daily lives that you have probably already come across is the shopping or film suggestions to watch given by Amazon or Netflix, based on your previous profile.
Another good example is when companies want to know if their customers are talking about them on Twitter or identify the impact of a message.
Machine learning is also being widely used by auditing companies to detect fraud, both in the public and private sectors. Current computing capacity can capture large amounts of data, which is undoubtedly a major advantage of artificial intelligence.