Artificial intelligence (AI) and machine learning have been the answer to various business problems across the board.
Cloud computing is another area that’s really taken off in the past few years and has help businesses tremendously in terms of data storage and the ability to automate certain tasks. Even though still very much in its infancy, the cloud computing industry is estimated to be worth around $130 billion, and it’s still growing.
Machine learning based systems such as those used in the list of DOD approved software compute complex calculations and sophisticated algorithms. This eliminates the need to have complicated code for every action.
There are many ways in which cloud machine learning will impact how business is done in the future. Here are three of the most prominent ways:
- More effective human labour. AI and machine learning cut down the hours it takes for humans to do various administrative tasks. Decision making is almost always more accurate also. Businesses will need cloud based machine learning to help streamline certain departments for maximum efficiency. In turn this will reduce the number of hours needed to work and therefore lower costs for the company.
- Better insight into consumer behaviour. AI can monitor a customer’s shopping to see what their tastes and preferences are. This can then be passed to the companies marketing teams to offer you enticing deals that you’re more likely to be attracted to. More and more companies are using AI in this way as it ultimately enhances the overall consumer shopping experience.
- Data visualisation. What incentives a company should take when releasing a new product or service will no longer be confined to a database. Thanks to machine learning, business managers and entrepreneurs will be able to make snap decisions and come up with solutions that will be effective and easy to implement at all levels. Companies need data visualisation to make better informed decisions. It’s estimated that as much as 90% of information transmitted to the brain is done so through our sight.
- KPI tracking: By making data more accessible to each and every member of staff, companies are better equipped to achieve their KPIs. Team members should learn to become comfortable with visual data. Each employee of the company should get access to information relating to the business that can be used to evaluate their own effectiveness.