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1. 10/9/2019 Machine learning How it is changing the world of businesses - Google Docs 360 D:g«TMG Machine learning: How it is changing the world of businesses? Machine learning has become a crucial part of businesses these days as it is being used to understand the customers and data. The businesses use the machine learning algorithms to find solutions to bigger problems related to the market and profitability. In short, machine learning is making business processing smarter and intelligent as the machines help solve business problems. Most of the bigger firms are making use of the machine learning techniques to analyze the data that is collected from the internal and external sources. The organizations can now make use of the data that is analyzed to make the business profitable and successful. There are major benefits of using machine learning for objective solving for businesses like: Data entry Entering large volumes of data has become a major task in the daily routines of an organization. However, while entering such large volumes of data, it can lead to data aberration, duplication, and various other types of data errors. Therefore, to reduce such redundancies and errors, the businesses are using machine learning algorithms and predictive modeling to do the data entry tasks internally without spending the resources. Marketing Having clear and sharp strategies for marketing and sales prediction is of the utmost importance when it comes to a successful business. There are loads of data related to consumer behaviors, market behaviors, customer after-sales https://docs.google.com/document/d/1llyagbB5XC4QdR2alYmL0IQY_E7uV_8-CISuc8VFnpc/edit# 1/3

2. 10/9/2019 Machine learning How it is changing the world of businesses - Google Docs 360 D:g«TMG feedback, demand, and supply, etc. However, it is crucial to analyze such data to make plans. Nowadays using the machine learning predictive modeling and rapid analysis prediction tools, the business can find insights into the actions that can be planned. All of this will also lead to better consumer experience and satisfaction. Fraud detection All types of businesses tend to face some kind of fraud and spam problem which can lead to major financial problems. Now that financial businesses are in stronger competition, it is vital to keep a check on the ever-rising fraudulence; machine learning is becoming more important for the business. Businesses are using neural networks, algorithm planning, fraud filtering, etc. to find the frauds and also avoid them in the future using predictive models. Right product recommendations The retail business is on the rise these days, especially with the advent of online shopping. As the shoppers are now using websites to search and order their choice of products, it has become quite a necessity to make their experience effective. Today, the websites are made more interactive by using the data analytics and machine learning models. As they help in predicting the customer needs, they verify the past behavior and recommend products accordingly. Manufacturing predictions The businesses which are manufacturing-oriented need to maintain the inventory and also maintain the production line. It is very important to predict the demands and manufacture the units to meet the market demands proactively. Proper inventory management is something that is helped with predictive modeling which will minimize the failures and lack of maintenance. Starting from https://docs.google.com/document/d/1llyagbB5XC4QdR2alYmL0IQY_E7uV_8-CISuc8VFnpc/edit# 2/3

3. 10/9/2019 Machine learning How it is changing the world of businesses - Google Docs 360 D:g«TMG the machinery maintenance to the supply of units to the market, everything can be predicted and maintained by the machine learning techniques these days. Resource box Machine learningis a pervasive field and techniques which can be used in almost every industry and sector. It can make work more efficient in terms of time consumed and costs. To make the process intelligent and predict the right actions to be taken, the ML algorithms have become one of the biggest aids. https://docs.google.com/document/d/1llyagbB5XC4QdR2alYmL0IQY_E7uV_8-CISuc8VFnpc/edit# 3/3