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Machine learning is a buzzword now, as data analytics is rewriting the rules for how enterprises handle data. But what could it actually mean for business and sales down the line or how a business is positioned against the competitors – in short, how machine learning value is being influenced in the marketplace. With the right high-quality data, machine learning uncovers hidden values for marketers to close the gap and manage the intangible.
Machine learning is already turning vast amounts of data to uncover connections that can spot better decisions without human intervention, whether it be in pursuit of pushing forward genome research or predicting things. As the potential of machine learning is boundless, yet most of the organizations haven’t truly grasped how machine learning will change the way they do business or how it will change the shape of their organizations in the process.
Overtaking Apple, Google was named the world’s most valuable brand in the top spot. Taking advantage machine learning makes Google dominant in the digital advertising & which has led to cloud services like Tensorflow, and enhancements for some of its best-known products such as AdWords, Google Home, YouTube, and Google Analytics. Machine learning capabilities enhance the customer experience in order to transform your customer into your potential customer or an advertiser for your advocacy.
With the strong machine learning capability, Amazon was ranked three on that list. Embracing machine learning, Amazon gets closer to their customers by analyzing years of customer data to pinpoint trends and tailor marketing actions more efficiently. Machine learning analyzes data to identify customer behavior and trends, which relies on making more effective marketing strategies and predicting data strategy to increase profitability.
Machine learning adoption to enhance the capabilities of the software from offering enterprise software to establishing machine learning services has ranked Microsoft to fifth. Microsoft has integrated machine learning features into its business software to complement its Azure Machine Learning cloud platform. And Azure Machine Learning Workbench is the desktop clients for developers and data scientists to run various programming languages, and PowerBI, a data visualization tool. One of Microsoft’s notable forays with machine learning- in R programming, offering its own application of the language, and seamlessly integrating with Power BI.
To survive in the fierce competition of businesses robust analytics strategy has become an essential. Machine learning offers predictive analytics, which supports streamlined marketing. The value of machine learning lies in the ability to create a better chance of identifying profitable opportunities for data or avoiding unknown risks. Customer data are generated from the predictive analysis, and much of it can be modeled to inform back-office functions like marketing and operations of which support, perhaps indirectly, the customer experience. The more a business understands the parameters of customer behavior, the better opportunities to focus on building and nurturing relationships that add value to the business.
Machine learning is building up steam for the primary marketing processes by managing 85% of customer interaction. So what’s the takeaway for marketers? For marketers, machine learning offers the key to focus on the deal in the portals and activities to engage personally with customers and prospects. Machine learning augments brand value because each step reflects a personal side effort to innovate in ways without the need to rely on the intuitive gut decisions.