Big data has been the unavoidable buzzword of the Internet for the past few years, but it’s actually the fuel behind the next big thing: data mining using machine learning.
The recent explosion of big data is what made data mining using machine learning possible. In fact, it’s now one of the most active areas of predictive analysis. Machine-learning algorithms are the heart of various studies across industries, from mapping genomes to improving car safety.
So, what exactly is machine-learning? It’s basically algorithms constructed by researchers and data scientists that can learn from and make predictions based on data. Automated analysis provides organisations with fresh insights that were previously buried in the overload of data—opening the door for enhanced intelligent decision-making.
Turning big data into deep insights
Intel is one organisation that’s hopped on the machine-learning bandwagon with great success. Their business model operates around selling products, which may then be sold to another company as part of a broader service. Intel’s goal was to help their sales/ marketing teams identify the resellers that would best connect with customers in specific vertical industries: as in, the ones with the highest probability of generating sales.
Using data mining, the team developed a machine-learning system that doubled potential sales and increased engagement with resellers by 3x in certain industries. Intel’s tool also models web-browsing behaviour and can detect financial fraud.
Unleashing the power of machine-learning can help savvy businesses like Intel make data meaningful—and give them the competitive edge in our increasingly-connected world.
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