Machine Learning to Advance Business Intelligence
The past few years have seen major changes in business intelligence due to even more sophisticated techniques that lead to optimal decision-making. Machine Learning is a technique that will play an increasingly important role in business intelligence in the future. In this blog, we will discuss the evolution of Machine Learning in artificial intelligence that will further business intelligence.
From Intelligence to Artificial Intelligence
The notion of intelligence can be defined as the ability to make the best decision in day-to-day life. This decision-making is based on working knowledge (the ability to use and interpret available information).
From Artificial Intelligence (AI) to Machine Learning (ML)
Computers possess a certain level of intelligence thanks to programs created by humans and uploaded to the computer’s “brain.” However, computers are not yet capable of completing certain tasks that humans master. Some of these tasks define what artificial intelligence is and include other perceptions and control modes. Over the past decade, researchers have developed programs that aim to integrate a form of artificial intelligence similar to human intelligence by utilizing a large amount of data so that machines “learn” by example in the same way as a child learns.
Machine Learning is part of this process. It is defined as an operational tool used to train computers to acquire a level of intelligence. To achieve this, researchers model an operational process and program so that the computer can execute the process on demand. In order for machines to be capable of expressing complex behaviour that mimics human behaviour or animal behaviour at least, an infinite number of mathematical functions must be integrated: non-linear functions when it comes to basic sensory algorithms in focus areas, in particular. There are several types of Machine Learning (ML):
The machine learning (ML) roadmap can be broken down in the following way:
How Can These Techniques Further Business Intelligence (BI)?
Business intelligence is becoming more and more popular and is largely based on data and information. However, the processing and analysis of Big Data also plays an ever-greater role in the field of BI.
Certain companies in the insurance, telecommunications, public utilities and retail markets use or plan to use a strategy aimed at carrying out predictive analysis so that they can adapt their message, offers and tactics when it comes to clients. Within this context, Machine Learning is an excellent alternative to classic planning and estimate techniques. In addition, this technique is dynamic and can evolve constantly and thus adapt to new data and business rules.
Machine learning, which follows from artificial intelligence, is the key to analytics then it comes to building dynamic predictive models that generate more precise results. This technique is a central tool in business intelligence. Recent developments that include neural networks and Deep Learning are now increasingly common in business intelligence.