Interesting Benefits of Machine Learning in the Enterprise

Customer service is one of the most important areas where machine learning is helping business operations. Machine learning is now being used by businesses to monitor data about their customers, develop more accurate portraits of consumer preferences, and inform customer support efforts.

Fremont, CA: Enterprises are rapidly adopting machine learning, and the reasons are obvious. Machine learning is unlocking new ways of doing business and helping enterprises find their competitive edge, from improved customer relations to increased productivity.

Machine learning is the practice of searching through data for hidden patterns that can be used to make predictions about future performance. Here are a few of the most important advantages of machine learning in business.

•  Predictive Maintenance

One of the most powerful advantages of machine learning in business is predictive maintenance. Predictive maintenance is now used by companies in industries ranging from manufacturing to oil and gas to keep their machinery running. Because this equipment is the lifeblood of these businesses, any downtime can be costly. That's why they've put so much money into keeping machinery running.

Predictive maintenance monitors data streams generated by the equipment. This establishes a baseline profile that describes normal operations. When the data begins to deviate from this baseline, it may be an indication of an impending problem. With enough data and time, predictive maintenance algorithms can learn to detect specific mechanical issues, alerting work crews to problems before they cause operations to halt.

•  Customer Support

Customer service is one of the most important areas where machine learning is helping business operations. Machine learning is now being used by businesses to monitor data about their customers, develop more accurate portraits of consumer preferences, and inform customer support efforts.

Machine learning assists support teams in addressing customer concerns in a more proactive manner by enabling businesses to understand their customers at a deeper level. Many organizations now use machine learning to identify customers who are likely to have problems and recommend solutions before the customer even contacts them. Many online retailers are utilizing machine learning bots to assist customers during the purchasing process in order to reduce abandoned purchases.