What is Machine Learning & Why is it Important in Our Lives?
As you’re reading this, ads related to this content are being served to you. You may be most familiar with Facebook, showing you and your closest friends’ activity each time you log in.
So who’s responsible for these behind the scenes actions?
Machine learning is.
WhatIs.com defines machine learning as “a type of artificial intelligence that allows software applications to become more accurate in predicting outcomes without being explicitly programmed.”
Machine learning typically involves developing algorithms that can take input data and utilize statistical analysis to predict an output that is within a certain acceptable range. If you are familiar with data mining or predictive modeling, then you will be at home with machine learning too, as the processes involved are identical.
They require going through data to identify patterns and adjust program actions accordingly. The stages involved are:
Machine learning methods
Machines learn by way of algorithms which are categorized as supervised or unsupervised and which can be further broken down.
Importance of machine learning
Most organizations exist for the purpose of making a profit. Realizing better profits means identifying more profitable opportunities while avoiding risks at the same time. What if you could analyze more data and deliver more accurate results on a very big scale? It means you could be more profitable as an organization.
Machine learning is important because it makes it possible to quickly and automatically produce analytical models for you.
But to create good machine learning systems, you need:
Machine learning applications
Machine learning has been with us for some time, but the ability to analyze complex and enormous amounts of data has only been a very recent success. As a result you may be familiar with machine learning applications like:
As machine learning technology improves and evolves you can expect to see more and more tedious, data-intensive tasks that utilize the technology so organizations can react at the speed of business.
Machine learning best practices
Just like any practice known to us, there are always best practices that bring about great products. There are dozens of mentors out there but Martin Zinkevich gives the best rules for machine learning. Make sure you go through all three phases of them!
Although machine learning analyzes massive quantities of data and delivers faster and more accurate results, it requires additional time and resources to train properly. If combined with cognitive technologies and artificial intelligence, machine learning can become even more effective.