Machine Learning Technology Replaces Predictive Analytics with Its Superior Capabilities.
Digitization has resulted in the accumulation of a lot of data that has to be managed, organized, and structured for efficient utilization. While manual handling of such large amount of data is not possible, the need for data management services that use processing techniques to filter and sort the information is felt.
Big data technology experts put into use massive algorithms that scan the amount of data you have in hand and ensure its organized storage for easy retrieval. It ensures that whatever information is required from large pool of data is available to user by firing a simple query. Web application development company UK as well as other enterprises usually face problems in storing and managing large amount of data.
This is where machine learning technology comes into the picture. Let’s know what is this technology and how does it affect business operations:
What is Machine Learning?
Machine learning is the next stage of data mining and management. This technology uses the data to self-learn the pattern and form algorithm that can exemplify the gathered information.This is a form of artificial intelligence (AI) that enables computers or machines to learn data without being programmed explicitly.
Machine learning is based on pattern recognition where computers are made to analyze the data on their own. Without any pre-programming, computers are capable of performing the required action as per the input.
Independent Approach of Machine Learning
As discussed previously, machine learning is not about performing as per predefined algorithm or code. It is about self learning the pattern of information and performing action accordingly. This independent approach and iterative aspect of machine learning prepares the computer to be face new data.
Results for new data are produced taking into consideration previous computations and repetitions. This technology finds it utility in applying complex mathematical operations and calculations to big data on its own without any explicit programming. This concept isn’t completely new, however it has been much talked about and in use off lately.
Few Real World Applications of Machine Learning
Machine learning has entered human lives in different fields. Let’s know few famous and useful applications of machine learning:
- One major application of machine learning lies in fraud detection that analyzes irregular patterns in login and usage behavior.
- Customized recommendation based on personal choices from Amazon and Netflix is another everyday application of machine learning.
- Google self driving car is the most wonderful example and application of this high-end technology.
What’s the Need of Machine Learning?
Increasing digitization, collection of large amount of data, inexpensive storage and demand for insights from large sets of data have given rise to the concept of machine learning. While there is so much data to be handled and understood, why not automate it to reduce the overhead?
Wouldn’t it be great if machines could understand the common pattern, understand the corresponding action and react accordingly for further sets of data? That’s what exactly machine learning does. Without requiring any typical human intervention, machines can take wise decision in real time.
Industries Benefitting from Machine Learning
Several industrial domains have found its utility in machine learning technology and are already using them for carrying out operations. Some of these industries are as follows:
Advertising: Favorite or most viewed product icons you see on top column or at corner when you open some website is filtered by machine learning. Such techniques are used by marketing team to get your attention towards those products.
Healthcare: Sensors and wearable devices use the data to check an individual’s health in real time. The patterns recognized my machine learning help doctors in fats and easy diagnosis.
Banking & Finance: These professionals use machine learning to derive useful insights from an ocean of data. Prevention of fraud is yet another major benefit to banking and finance industry from machine learning.
Government agencies have started using this trending technology to manage large sets of data they have in hand. The day when every system will be powered by this technology is nor far enough!