The field of analytics is experiencing a shift. There are changes in the tools, technologies, and adoption. The industry is evolving and organizations are investing huge amounts of money and resources. Organizations want to turn data and analytics into a competitive advantage. They are see that analytics could give them leverage, especially when they are able to better cater to the needs of the customers.
The challenge however is that in a time of rapid change there is a lot of marketing hype. They sometimes hijack the promise and venture-backed startups and make unreasonable claims. Following the fear of falling behind the competition or missing out on new innovation some organizations hastily make investments. Against this backdrop, there is disruption taking place and value chains are reconfiguring.
The Business Potential of Machine Learning
So, programs and devices get smarter applications meant for special purposes will be produced and
tailored to be more adaptable. Algorithms will improve as they are using and they will continue to self-learn. They will have mechanisms that help to optimize them over time.
Machine learning is a broad concept that represents approaches and algorithms to improve how the technology performs. Some of these are fully automate while others require structure and configuration to fit into an organization’s information domain. This technology is related to software becoming more user-friendly to the point where systems could seem to understand human intent. This is an emerging field known as cognitive computing. It holds great promise for all fields, for instance, Siri has been use in many ways to help the day-to-day lives of individuals.
