Machine Learning: 5 Advantages For Your Business

Machine Learning is one of the applications of Artificial Intelligence with which we are more familiar in our daily lives. In addition, it has great potential for organizations, as it is one of the pillars that will support their digital transformation. Its use is growing by leaps and bounds, and, as recently reported by the specialized technology medium Silicon.es, some predictions estimate that it will increase business productivity by up to 40% in 2035.

Therefore, in this post, we show some of the keys to Machine Learning, in case you still do not know what this branch of AI consists of and the advantages it can bring to your business.

What is Machine Learning?

In 1959 there was already talk of Machine Learning, but in recent years, this term has gained greater relevance. Specifically, Machine Learning or automatic learning is a discipline of Artificial Intelligence, and, through it, computers learn to identify patterns without having to be previously programmed with this objective.

In turn, Machine Learning is closely linked with Big Data since it is responsible for analyzing a large amount of data to predict behaviors and evaluate actions that contribute to making the best business decisions.

This branch of Artificial Intelligence is more present in our lives than we imagine. Without going any further, platforms such as Netflix or Spotify make use of it to generate recommendation catalogs according to their users’ tastes, views, and interests.

Five advantages of Machine Learning

• More excellent knowledge of the user: thanks to the collection of data and the study of them carried out with Machine Learning, organizations have a more accurate understanding of what their customers are like, their interests, and what they are looking for when browsing the Internet. In this way, the improvement of the Customer Experience is favored since the customer enjoys a personalized and unique experience and, at the same time, contributes to their loyalty.
• Making the best decisions: having the correct data helps organizations make better decisions, promoting increased productivity and efficiency. Knowing the data, its analysis, and identifying patterns and links facilitates the development of business strategies that adjust to the market in which companies carry out their activity.
• Optimization of internal processes: Machine Learning also learns from the organizations’ internal data. In other words, it favors the improvement of production processes by increasing their speed, substantially reducing errors, and optimizing resources. An example of this is observed in the advancement of logistics.
• Design and development of new products and solutions: collecting and analyzing data allows companies to know what is being done in the market or what customers are looking for, among others. Machine Learning is a first-rate ally, based on the correct interpretation of the received data, fostering innovation and the development of new products and solutions that satisfy the unique needs of customers.
• It favors the development of e-commerce and the relationship with the client: transactions in electronic commerce have increased by 15.6% during the second quarter of 2020, according to data from the National Markets and Competition Commission (CNMC). In this sense, having an online channel that customers can access 24 hours a day, seven days a week is essential today. We refer to chatbots based on Artificial Intelligence that allow us to improve our knowledge about clients and customer service.

On the other hand, Machine Learning enables eCommerce growth thanks to the analysis of data related to customer behavior and personalized experiences by automating suggested products based on the interpretation of this data. It also encourages website security by installing the best systems.