Machine Learning Applications: The Dawn of Machine Learning in the Enterprise


Modern organizations realise the tremendous potential of machine learning and AI but at the same time are struggling to draw valuable insights from the massive amount of data they generate and save every day. Machine learning, the field of computational science centred on pattern recognition is playing a very important role in our daily lives. We can find everyday examples of machine learning in action right from suggestions offered by Amazon and Netflix, pre-approved credit card offers, saving and investment offers from your bank or for that matter Apple’s Siri, machine learning continues to make our lives simple and convenient. One thing in common among all these is the creation of predictive intelligence based on historical trends. To put in simple terms, machine learning facilitates complex problem solving by creating accurate predictions without the need for complex computer programming.

Machine Learning’s strategic role in the modern organization

In enterprise businesses, machine learning is proving to be highly adoptive in handling predictive and prescriptive tasks, thus allowing organizations to accurately identify behaviours that possess the maximum potential of eliciting the desired outcome from the customers. Modern organizations as such are more than eager to take the help of machine learning when it comes to their sales and marketing efforts to obtain a competitive edge in the marketplace.

The Accenture Institute for High Performance recently completed a study on ML’s importance for modern organization. The key takeaways of this survey are summarised as follows:
At least 40 per cent of the organizations that were surveyed are increasingly using machine learning to give a boost to their marketing and sales efforts. Two of the five organizations surveyed are already using ML based intelligence in sales and marketing.76 per cent of the organizations surveyed were utilising ML based intelligence to target higher sales. ML provides greater predictive accuracy by creating and optimising propensity models to guide up-selling and cross-selling.

A majority of European banks were making intelligent utilisation of ML to increase sales of new products by 10 percent while reducing churn by more than 20 per cent. A McKinsey study found that more than a dozen European banks are using ML in place of statistical modelling techniques.

Corporate training in machine learning from a top rated online training institute helps organization fill critical skill gaps in their data team. Highly trained employees can help organizations increase their sales and revenue by using ML to solve critical business problems.

Location: Bengaluru, Karnataka, India

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