What Is Machine Learning And How Can It Help Businesses?

What is machine learning? Simply put, machine learning is an application of data analysis that automatically learns and improves from experience, without being explicitly programmed. It is a method of artificial intelligence that involves a system learning from data, identifying patterns and making decisions with minimal human intervention.

Machine learning can often be expressed in many different ways such as Artificial Intelligence (AI), predictive analytics, data mining, deep learning, forecasting, natural language processing or simulations. Essentially, machine learning basics is all about algorithms that analyze data to find models that can be used to predict outcomes or understand context with significant accuracy and improve or “learn” when more information is made available.

How Machine Learning Is Solving Information Problems

Resurging interest in machine learning is due to the same factors that have made data mining and Bayesian analysis more popular than ever. It is the increasing volumes and varieties of available data, computational processing that is cheaper and more powerful, and affordable data storage.

All of these things mean it's possible to quickly and automatically produce models that can analyze bigger, more complex data and deliver faster, more accurate results – even on a very large scale. And by building precise models, an organization has a better chance of identifying profitable opportunities – or avoiding unknown risks.

Machine Learning Is Helping Businesses Make Smarter Decisions

In the future, we believe that machine learning technology will be increasingly applied to solve information and intelligence problems.

The goal of any analytical effort is to leverage information and ask the right questions in order to improve business results. Now more than ever, decision makers require intelligent ways of gathering knowledge and making decisions, helping them to extract actionable intelligence from constantly evolving information.

This is where machine learning based intelligence systems can support by empowering users to identify information, trends, and patterns that warrant attention.

But rather than replacing humans in the future, it will augment human intelligence and enable people to gain expertise and reach insights much, much, faster.