Businesses like yours are already reaping first-mover advantage.
Smart systems are finally delivering on their promise: computers and software that learn, anticipate and predict. Seamlessly evolving to become the new, essential core capacities of every visionary business. This is the future, and it is already happening in:
Machine learning pulls meaningful information from vast data sets - crunching numbers in a way far beyond human capabilities. When the machine finds a pattern and unlocks its mechanics, it can build a predictive model.
You've got the data, so what do you want to find out?
Machine learning is a game changer, yet it's hard to grasp all the new opportunities that come from seeing deeper into data. The good news is machine learning is already in use around the world. Examples like these could revolutionise your business:
Find More Customers, Retain Them for Life
You can now use all your CRM data points to get actionable insights into which current customers will stay with you for the next quarter, the next year or for life.
When you understand your existing customer base, you can forecast where new customers will come from. You'll be able to remove the operational risks in launching campaigns to reach, engage and keep new segments.
Predict Customer Credit Defaults
Early detection prevents bigger problems. For example, credit distress has many subtle signs that can be missed until it's too late. Machine learning can accurately rank credit risks from predictions based on key customer-behaviour data. It's a powerful tool to judge if a customer will default on an outstanding account.
These more accurate evaluations mean lower business risks for issuers of credit and more credit options available to customers who are more accurately understood.
Find the Ideal Price for your Product
If you're charging too much, you're losing sales. If you're charging too little, you're losing profit on each sale. Machine learning can find you that perfect balance – customer-by-customer and in real time.
Say an insurer needs dynamic conversion rate modelling to determine which quoted price will lead to purchase – yet every customer is different. Using an anonymised database of previous customer information and sales response, a machine learning model can return the best price for each individual customer's circumstances.
Know how Product Features interact with Product Sales
Machine learning can build a model to predict monthly online sales of a product with a hypothetical set of features. For example, imagine a set of modular online self-help programs. Being modular means when you understand a customer's needs, you can predictively tailor a set of modules to match those insights and lead them to repeat purchase.
Making Better Medical diagnoses
Every human is unique, meaning diagnosis is part art and part science – 'textbook cases' are less common than most think. Machine learning can examine diagnostics and medical history at a deeper level to give doctors a powerful new tool making the most important decisions in their patient's lives.
Machine learning can mean earlier diagnosis of, for example, diabetes and Alzheimer's disease and could even predict the statistically based guidelines of each year's global diagnosis codes.
Machine learning technology has vast potential. It can be used to resolve your current issues, or it can open new opportunities.
Hunted Hive can build your solutions or we can lead blue-sky brainstorming sessions to uncover new ideas.
"Doctors can be replaced by software - 80% of them can. I’d much rather have a good machine learning system diagnose my disease than the median or average doctor"
Vinod Khosala, Sun Microsystems Founder
How machine learning can help your business
How do I know if a machine learning solution is right for my business?
Yes
Automated prediction is already central to my business processes, but I need to do it better.
If I could predict X, then it would make a huge difference to my business.
I want to get the most from the data I already have, either in-house or available externally.
I have a lot of databases and spreadsheets, but I have trouble categorising things and encompassing all that information.
I don't think so
Prediction is only a small part of my business. Okay, well what are your competitors doing? Are there patterns in your sales data, website visitors or marketing activities that could make you more efficient?
I don't have any data available. If you'd like to begin collecting it, we can help.
My business rules require that people run every process. Machine learning is not a replacement for the human touch, but procedural work is also often not the best use of human resources. You'd be surprised how clever these robots can be.
There is no way to make predictions in my sector. Machine learning takes a far wider view than people and detects patterns we can't. It's a new field too, so just because your sector has been unpredictable in the past, doesn't mean these new tools won't work for the future.
Chat to us about machine learning in your business now.
Hi, I'm Nathan, Director of Hunted Hive. Let's meet up for a coffee to talk about how machine learning could benefit your business. It's an exciting and amazing field.
"The goal of machine learning is to build computer systems that can adapt and learn from their experience."
Tom Dietterich, Professor of Computer Science, Oregon State University
Sounds Interesting, What Next?
Once we know your specific challenge, we'll develop a project strategy that strives for efficiency and effectiveness. We'll evaluate off-the-shelf tools that could be useful - saving you money. We'll give you a detailed timeline - you'll know what to expect. We'll build a technology roadmap that charts the milestones to your machine learning solution - you'll be able to see clear progress.
Ready to take your business to the next level with machine learning?
