4 Ways Machine Learning Will Make Your Business Better
"Machine Learning is a current application of AI based around the idea that we should really just be able to give machines access to data and let them learn for themselves."
Artificial intelligence (AI) and its application, machine learning, are increasingly making their way into our daily lives. Take the latest Google smartphones, for example. In terms of AI, Google Assistant can engage in two-way conversations with users and perform a variety of tasks, while Google’s photo app uses machine learning to identify faces in photos.
While these features are beginning to play a more prominent role in our home lives, they are also gaining momentum in the business world. As of 2018, MIT Sloan found that 88% of AI pioneers, or organizations with significant levels of AI adoption, invested even more in AI than last year, and 85% expressed an urgent need to implement stronger AI strategy.
Whether at home or for your business, machine learning can increase efficiency by carrying some of the workload. If you’re looking to enhance your business practices with machine learning, here are 4 ways to do so.
1. Learn more about your customers.
Generally speaking, the most substantial way your business can benefit from machine learning is by using it to get to know your customers. Using those insights, machine learning can take your marketing up a notch.
For example, you probably already know that analytics can provide useful data regarding the performance of your social media accounts, your website traffic, and more. But instead of analyzing this data yourself, machine learning can run the numbers and provide useful takeaways.
2. Target the right people with the right products.
If you’ve used Amazon or Netflix lately, you’ve received product recommendations, which is when machine learning takes your engagement with content and suggests other products you may enjoy. The more you engage, the more accurate the recommendations will be.
Similarly, real-time bidding uses machine learning to record user behavior and, using that information, select the best advertisements for that user. Whether you use real-time bidding or product recommendations, you’ll increase your chances of reaching your customers via the best content.
3. Provide personalized content for customers.
Product recommendations and real-time bidding are marketing tools that help to drive customers to make that initial purchase. But what about when you’ve already sold a customer a product? Ideally, you want that customer to come back and buy something else.
Personalized follow-up content can foster stronger relationships with customers. For instance, instead of sending out a stock drip email campaign after a purchase, machine learning can select the best content to send that customer based on their engagement with your brand.
4. Offer automated customer support.
If you’ve ever chatted with customers over the phone, you know that they often ask repeat questions. With this in mind, for businesses with smaller staff sizes, it’s all the more critical that as little time as possible is spent giving repeat answers.
Chatbots built using a blend of AI and machine learning can offer the optimum customer support experience, outside of human customer support. Using AI, your chatbot can be preprogrammed to answer your most FAQs, but with the integration of machine learning, your chatbot will be able to conduct more natural, human-like conversations with users.
Ready to start using machine learning?
To integrate machine learning into your existing practices, you’ll need a software development team. With that team, you can discuss your ideas, business goals, and budget to determine what forms of machine learning will benefit you most.
For over ten years, ClikFocus has developed quality software to meet the needs of a variety of clients. If you’re looking to streamline your business’s processes through machine learning, we can do it. In fact, we can do anything.