Machine Learning and Analytics
Businesses are generating more data today than at any other time in history. That data can drive deep insights into customer preferences and behaviors, market trends and drivers, and innovations in product development.
The key to unlocking all of these benefits from your data is using the right analytics solutions. As the volume of your data grows, it becomes increasingly important to apply machine learning to the analytics process. Machine learning supports your analytics, from basic connectivity and data collection, to formulation of the precise question to ask that will give you the best results.
Machine Learning Enhances Your Analytics
Machine learning solutions allow your analytics tools to adapt and learn as you add new data to your existing dataset. This results in cumulative improvements in the reliability of predictions for specific actions that will drive desired business outcomes.
At the same time, machine learning algorithms can identify new insights into customers and products that you were not specifically looking for, providing options for innovative actions that can drive increased revenue for a healthier bottom line.
Machine Learning Industry Benefits
Predictive Analytics and Machine Learning for Healthcare
Healthcare data of course is very sensitive and the security of that data is extremely important to us. Our Machine Learning Solutions allow advanced anonymization to mask confidential data from results. Also, the secure access, transport and storage of private consumer, healthcare or corporate information is a necessity. We are able to help provide secure data handling, access controls, auditability, assurance of data integrity and integration with our enterprise single sign-on solutions.
Predictive Analytics and Machine Learning for Retail
The amount of data that retailers have at their disposal is vast and the benefits a company can derive from that data are extremely important. Products, prices, sales performance, costs, availability, logistical activities and consumer behavior at your disposal. However, the combination of stores’ delivery channels, products and time-consuming product attributes, creates a vast field of metrics to keep in check.
On top of that, the amount of data points available and the different ways every form of data can be analyzed, only compounds the already vast quantities of data. To be able to identify or qualify key under- and over-performing areas is almost impossible. However, with machine learning, retailers and category managers are now able to better understand product trends, by analyzing not only structured sales history but also unstructured data (such as social networks and call center data). Also, when a company is able to collect and analyze sentiment from customers, using machine learning, it is able to help retailers identify trends a lot quicker than before, which in turn allows great competitor advantage, improved sales, and customer loyalty.
Predictive Analytics and Machine Learning as an IT Strategy
The Machine Learning and Predictive Analytics market is forecasted to triple by 2017 and moving to become a $100 billion industry by 2025. It is no surprise to see just how many companies are now turning to predictive analytics & machine learning solutions in their IT business strategies and business operations. There are many known benefits for machine learning in IT, but here are some specific examples:
- Quickly detect fraudulent activity: Modern anomaly detection algorithms leverage the power of machine learning to learn patterns of fraudulent transactions and behavior. Algorithmic security solutions can help companies discover suspicious transfers between individuals and intercorporate connections to prevent corporate espionage and insider trading.
- Speed up your data and predictive analytics: Business leaders are pressed to make important marketing, sales and investment decisions on a daily basis. However, getting actionable insights from data using traditional data modeling methods may take weeks. Contemporary AI-powered predictive and business analytics solutions solve this problem via automatic interfaces that allow even non-technical users to get instant models, patterns and meaningful insights from data.
- Find the right people for your team/ company: Automatic data mining and ML solutions can give a boost to your hiring strategy by helping HR specialists identify the best candidates for a position and thereby decreasing human subjectivity and error in decision-making.
The need for machine learning and predictive analytics is inevitable, and the question a company should ask itself is not whether to adopt predictive analytics and machine learning, but how fast can your team do so without disruption. We can help you stay ahead of the adoption while ensuring business process are maintained and pitfalls are avoided.
Getting Started with Machine Learning and Analytics
Micro Strategies' experienced consultants can help your business incorporate machine learning solutions into your existing analytics. We can also help you develop an analytics discipline that incorporates machine learning right from the start.
Micro Strategies helps you identify which machine learning and analytics solutions will best fit your business’s specific objectives. We help you configure and deploy the right solutions and connect it to your data rapidly so that you will start to get quantifiable business results sooner. Contact Us here.