Bottom line: Machine learning is providing the needed algorithms, applications, and frameworks to bring greater predictive accuracy and value to enterprises’ data, leading to diverse company-wide strategies succeeding faster and more profitably than before.
Industries Where Machine Learning Is Making An Impact
The good news for businesses is that all the data they have been saving for years can now be turned into a competitive advantage and lead to strategic goals being accomplished. Revenue teams are using machine learning to optimize promotions, compensation and rebates drive the desired behavior across selling channels. Predicting propensity to buy across all channels, making personalized recommendations to customers, forecasting long-term customer loyalty and anticipating potential credit risks of suppliers and buyers are Figure 1 provides an overview of machine learning applications by industry.