Machine learning provides tremendous benefits for any business that wants to grow. Yet, some companies are reluctant to make the investment in technology and personnel that implementing machine learning requires. Edward Scott, CEO of ElectrifAi LLC, is dedicated to providing pre-built machine-learning solutions that bring the power of AI to organizations without their having to build a complete AI system on their own.
Scott wants as many organizations as possible to be able to enjoy the benefits of machine learning. He highlights five ways that machine learning can make a business more profitable. It can help you:
Understand your customers better. Machine learning makes it possible to quickly gather and synthesize data from many sources. This provides a tremendous advantage in being able to spot trends and learn what customers want. You can then swiftly make any necessary adjustments to keep customers satisfied.
Improve your customers’ experience. Customer personalization is a hot topic, and no wonder. It’s something that 90% of customers say they want. With machine learning, you can meet that need. You’ll be able to create smart and effective recommendation engines, round-the-clock customer service, and targeted marketing.
Be more efficient. Machine learning is tremendous for rooting out inefficiencies by using data analytics to optimize project management and workflow. It also increases efficiency by automating repetitive tasks and providing metrics and reports. Organizations using machine learning may cut their data science costs by as much as 90%.
Make predictions about the future. Being able to spot trends that are on the horizon is a crucial ability for businesses that want to beat their competitors. Data science makes that possible, but it can be expensive to do the deep data dives needed to come up with actionable information. ElectrifAi LLC makes data science feasible for many organizations by providing pre-built machine learning solutions, making the power of AI accessible to more companies than ever before.
Get the most out of your data. Many organizations have more data than they’ve been able to analyze. They spend resources to gather data, only to have it go wasted. The problem is that when data is unstructured, it’s too hard to access in a form that’s useful for making decisions. Machine learning solves that problem by taking both structured and unstructured data and bringing actionable information to the surface where it can be put to use.
Reduce errors. Manual processes are error-prone, and mistakes can be expensive, wasting both money and time. With machine learning, you can help eliminate errors by automating common tasks.
Edward Scott is enthusiastic about the potential of machine learning, both for business and for society at large. His company, ElectrifAi LLC, makes it possible for many organizations to reap the benefits of machine learning that they wouldn’t have been able to access on their own.
The benefits are too good to ignore. Machine learning helps companies increase revenue while also cutting costs. It helps organizations respond quickly to changing conditions, whether those changes involve the global economic climate, trends in consumer preferences in a particular city, dynamic pricing systems, or supply chain optimization. Machine learning is the power of the future, available to companies today.