Heretofore, machine learning has opened doors for powerful search capabilities on the web, self-driving cars, speech recognition, etc. And, of course, there is a lot more to come!
Let’s see how your peers are deriving profits by incorporating machine learning into their business processes.
Finding value in the user-generated content
The user-generated content is often appalling and is a way worse than you think. It is ample with obscenity, misspellings, or flat-out wrong information. Machine learning models identify the best and worst content and filter out the bad and provide the good without the need of a real person to tag each bit of content.
In fact, this was one of the earliest problems resolved by machine learning, which is nothing but spam emails. Those days, email providers used to filter out the spam using rule-based techniques. However, the advent of machine learning helped in identifying and eradicating spam efficiently. Now, we hardly see spam in our inbox.
Here are few companies that adopted machine learning models to find value in their user-generated content.
- Yelp sorts its user-upload photos through machine learning
- Disqus eradicates its spammy content using machine learning
- Pinterest uses machine learning to show more interesting content to its customers
- NextDoor employs machine learning to sort through content on their message boards
Accelerated product search results
As a search engine company, Google always delivers reliable results when a user searches for a specific keyword. It indexes the enormous database and pulls out results that match the keyword. Machine learning helps Google in finding the most relevant matching result within a quick span of time.
Just like Google, other businesses like Apple, Intuit, Home Depot, etc., also incorporated machine learning for smart search results. Even the successful e-commerce startups such as Lyst, Trunk Archive, Rich Relevance, and Edgecase utilize machine learning to display high-quality results when their users are browsing for products.
Enhanced Customer Engagement
Machine learning assists entrepreneurs in streamlining their business processes across various aspects. The communication barrier between companies and customers is also getting curtailed in recent years with the surge of machine learning. Earlier, customers used to self-select an issue and fill out endless contact form fields to reach the organization’s support team. But now, the contact forms are shortened as machine learning peek at the substance of a request and direct it to the right place for prompt response with minimal information. Say, for example, a sales inquiry will be routed to the sales team or a complaint ends up instantly in customer service department. This will not only save company’s significant time and money but also makes sure that issue gets prioritized and solved as fast as possible.
Predicting Customer Behavior
Understanding customer behavior is one of the complex activities of a business. But with the effective use of machine learning, predicting the customer behavior pattern is quick and easy even when there is a large number of customer base. These patterns help companies to constantly review and modify their marketing strategies and assist them in understanding which product/service have the highest propensity to provoke desired outcomes.
Several enterprises are using social media platforms to receive any complaints or feedback from the customers after the release of any product/service. Machine learning is helping them to pull out the relevant ones out of the millions of messages.
There are diverse areas where machine learning can do wonders. It will completely change the way organizations function enabling to make faster and better business decisions. Machine learning does not just revolve around self-driving or flying cars; it penetrates into every business we do and every website we interact. And, those who don’t adapt machine learning will surely get left behind.