In the past few decades, there has been a volcanic eruption of data. What’s the use of so much data if it’s not analysed and no insights are derived from it?
Here’s where machine learning comes into the picture. Machine learning is a tool that is used to analyse volumes of data and find the underlying patterns within them. Why is this pattern important, you ask?
Because such patterns can be used to predict complex situations and find solutions to them. Machine learning is a part of our everyday lives. We interact with that tool on a daily basis.
Google uses machine learning in its search algorithm to make our experience better. It helps Google to learn and perform better each time. It’s basically an application of AI(Artificial Intelligence) that enables a lot of systems to perform, improve and learn using experience, without being programmed. It works on the principle of predictive analytics. For example, you’re looking at a particular destination on a booking site, you’ll see an option below which says, ‘You might want to check these locations too’.
This is an application of Machine learning. A lot of data analysis has gone into predicting what will be the best locations which could be shown to you, basis past browsing.
Watch this video to get a brief Introduction to Machine Learning.
Why is Machine Learning Important?
Machine Learning can be used to automate a lot of tasks in the present times, which means the job markets will be changed massively. It also has a lot of practical uses in companies and big organisations like saving money and time which will directly impact the future growth of the firm. In the services market, Machine Learning is allowing the rendering of services more efficiently like changing passwords or checking balance in the bank account, etc. Machine Learning comes into place where typical approaches fail to work.
Data is the lifeline of all business. Data-driven decisions increasingly make the difference between keeping up with competition or falling further behind. Machine learning can be the key to unlocking the value of corporate and customer data and enacting decisions that keep a company ahead of the competition.