Overview of Machine Learning for Business Leaders
- Author Chris Kambala
- Published July 31, 2019
- Word count 520
Machine Learning has garnered a significant share of recent press coverage in both tech and main street media. It is inextricably intertwined with, and central to, discussion and dialogue on topics ranging from big data in general to Facebook’s threat to privacy, Boston Dynamics creepy robotics, and Google’s exploitation of artificial intelligence for good and ill. As such, it is easy to view machine learning as either sinister or magical — neither of which is true. For today’s business leader, an objective and actionable understanding of machine learning is as important as an actionable understanding of finance and financial management.
In this article, we provide an overview of machine learning for business leaders: what it is and how to think about its applicability to your business.
What machine learning is
Machine learning (ML) is a data-driven system development paradigm. ML systems leverage data models, data analysis and feedback to define and refine algorithms to improve model accuracy and system results.
ML systems work by analyzing data to detect patterns or by applying predefined rules to:
Categorize or catalog like objects
Predict likely outcomes or actions based on identified patterns
Identify unknown patterns and relationships
Detect anomalous or unexpected behaviors
Different algorithms learn in different ways. But in general, as new data are provided to the ML system the system "learns" and the algorithm’s performance improves over time.
Problems suited to machine learning
ML, like other software development paradigms, is not one-size-fits-all — some approaches are better suited to particular classes of problems and not suitable for others.
Machine learning is particularly suited to problems where:
Logical rules are unavailable or insufficient to describe the environment — but actionable rules can be intuited
Next actions are varied and the best action depends on conditions that cannot be identified in advance
Understanding why an outcome is suggested is not as important as the accuracy of the outcome
The data is problematic for traditional analytic methods
Now that you know what machine learning is and how to identify problems that lend themselves to ML solutions, let’s explore the steps to define and conduct an ML project.
How to plan and execute a machine learning project
Well executed ML systems follow these recommended steps:
These steps, while seemingly generic and common to traditional software system development, require the perspective and attention gained from experience with ML system development.
The best way to approach machine learning system development is to work through an ML project end-to-end and cover the key steps with an experienced guide or team. Every step, from loading data, summarizing data, evaluating algorithms, making initial predictions, refining and presenting results is improved by experience — much like an ML system.
Accordingly, your first project should be viewed as a learning process to understand the mechanics of machine learning, calibrate your expectations and provide a perspective for setting expectations, interpreting and presenting results from dynamic, learning systems. After tackling your first project with the expert assistance you will be prepared to spot and sponsor the next, more consequential machine learning opportunity.
We provide a full range of custom software development services to assist Clients with solutions to their most important business and operational challenges. Our solution architects, developers, designers and engineers work with you to define, design and deliver exactly what your business needs.Article source: https://articlebiz.com
There are no posted comments.
- Top Benefits of PHP in Web Solution
- 5 Best Practices and 1 Tool for Mitigating Open-Source Vulnerabilities
- Can we book a hotel room for a few hours?
- How to get house number, street, postcode from a free-form address string
- Top 5 WooCommerce payment gateways
- WooCommerce in WordPress
- HOW TO OBTAIN MICROSOFT'S WINDOWS 11 UPGRADE FOR FREE(IF YOU'RE ELIGIBLE)
- Enhance Your Cross-Data SQL Capabilities with Database Workbench Pro
- Innovative Strategies for the Post-Pandemic Era
- Create Customized Desktop Productivity Shortcuts with QnE Companion
- Efficient Multi-Boot and Drive Partition Management with BootIt Collection
- Top 10 Sensors Types for Industrial Internet of Things
- Easily Convert and Open QuarkXPress Docs in Different Apps Using QXPMarkz
- 11 Graphic Designing Trends to Look Out For in 2021
- WordPress development: an agency or a freelance developer
- Why is owning a boat very expensive?
- Top 10 Grocery Delivery Mobile Apps in 2021
- What Does Cyclonis Password Manager Do to Protect Your Passwords?
- Essential Guide On Interlocking Plenum Armored Fiber Optic Cable
- Hikvision Thermal CCTV Cameras for Perimeter Security in SMEs
- Digital Onboarding and No-code Platforms
- 6 Myths of Charging Smartphones Batteries that are Wrong
- Photoshop Color Correction Service, Multi-color Photos from a single Photoshoot
- Darlox Electronic Limited: Fpc laminated structure
- The future development direction of artificial intelligence
- Smart Home Technology
- Monster Hunter World (MHW) Layered Armour
- Significance of Software testing services
- Berry Producer Finds More Value in SIMBA Than Expected.
- How to Find Phone With Cell Number - Find Out Who Your Partner is Calling Today!