There is a lot of hype around at the moment regarding machine learning and artificial intelligence. While it is certainly not a one-sized solution for every challenge you have encountered in your data, it can be used for a number of specific cases, with incredible results.
Machine learning is tremendously useful if you want to predict some future event or categorise certain historical datapoints you might have.
Benefits of machine learning
- Predicting future purchasing behaviour from customers
- Fraud detection based on POS activity
- Sentiment analysis of social media comments
- Price elasticity and promotional period suggestions