Machine learning is revolutionizing the way that businesses operate. As the use of machine learning becomes more prevalent more and more businesses are gravitating towards it because of all the benefits that they can obtain.
There are times when human intelligence is needed but there are times when machine technology can get the job done faster, cheaper and easier. Here’s a look at some of the major ways that the technology is revolutionizing other businesses and how it can do the same for you.
How machine learning can help boost your business
Administrative Duties
If you run a business you know that there is often a lot of administrative work to do. By using the technology you can get through this process faster. If you are spending hours drafting reports, creating presentations, handling scheduling, comparing data, dealing with production conflicts and other similar tasks then it may be time for you to look into machine learning.
For example, machine learning can spot a defect in a product and prompt it to be removed from the production line before a human can spot it. If you are in charge of a manufacturing line then a simple task like this when automated can save you a lot of time.
Recruitment Drives
Machine learning can take a lot of the work out of your hiring practices. You can use software that filters through job applications to find candidates that are suitable for an interview. If you have thousands of applications for a job this can save a lot of time.
One of the major benefits of using the technology for a task like this is that machine learning is not subjected to human biases. Instead, you will be recruiting candidates in an extremely objective manner. Everybody will have an equal opportunity based on what is on paper.
Collect Customer Data
You may be wondering if the technology is available for your industry. If you do your research you may be surprised at what you find. Machine learning seems to be everywhere. For example, the technology is being used in the automotive industry. Every year there are thousands of recalls on cars because of defective parts. Machine learning is now being used in these industries to identify problems in mechanical parts before they are used in new vehicles.
In the insurance industry companies such as Artificial is helping insurers to collect data more systematically. Insurers can do contract building and management as well as policy management with machine learning. Needless to say, proper use of the technology can skyrocket the productivity and growth of any business no matter what the industry.
Marketing Campaigns
You can use machine learning to effectively market your business. You may already be using machine learning if you are using some of the best digital marketing advertising platforms out there. Facebook and Google have been using this type of technology for years to find laser targeted customers for their advertisers.
The beauty of using these platforms for marketing is that you get the benefits of machine learning for your campaigns without having to train or buy the technology yourself. However, if you do want to invest you can do so. You can acquire the learning technology that can be used to improve your customers online shopping experience.
For example, many websites now incorporate a chatbot into their webpage as a way to continuously connect with customers and meet their needs on a 24-hour basis even when the in-house team is not available. Machine learning can help you to grow your email list in a more targeted way by finding out what customers are interested in before they sign up for your list. In this way, you can segment your email list to increase your open rate and by extension your conversion rate.
Grow Your Business
As you can see with the technology available through machine learning you can streamline a lot of processes that may otherwise have been difficult for you. This means that you will be free to focus on other areas of your business so that you can experience the business growth that you want more quickly.
Take a careful look at your business and decide where the technology can be most useful. Machine learning is not something that you should just implement at random. You must first take the time to look at which areas of your business are consuming most of your efforts and energy.
Once you do this and find the technology that will increase your productivity you should go ahead and implement it.
