Deep data analysis cannot be done today without machine learning technologies. The method of processing and analyzing information used in the Big Data field extracts knowledge from a raw dataset in order to predict future behavior, results and trends. In simple terms, this is artificial intelligence that gets smarter with every experience.
Modern companies collect huge amounts of data and use it to grow their business. With the help of useful information obtained from these arrays, tasks related to predicting customer churn, credit scoring, identifying anomalies in audience segments, and many others are solved. Complexes of machine learning methods and tools for Big Data management help to get the most out of the massifs of unstructured information.
What is Machine Learning Consulting?
In projects of a new direction, using machine learning methods (ML, machine learning), specialists solve such customer problems as predicting demand, forecasting the effect of promotions, personalized recommendations, segmentation and clustering of customers, as well as identifying and preventing fraud. Depending on the scale and type of tasks of a particular business, both ready-made Microsoft Azure ML and SAS Enterprise Miner services and open source solutions such as RapidMiner are used. In addition, the integrator’s experts design customized systems based on the R and Python programming languages.
Or you need to predict the sensitivity of large customers to price changes for certain products. How do you define elasticity? What exactly will you predict?
Is it necessary to build a model if the production process then cannot be changed anyway? It turns out that you need to be able to work in new subject areas of application of analytics, since there are already many developments in well-studied areas.
What does it take to move into new areas with analytics? To do this, you need to be able to deeply understand the subject area of a specific process, which is often not described. To understand what kind of data is generally needed, to understand what exactly the business is being done here. To understand whether analytics is needed here at all, whether any predictive algorithms are needed, whether it is necessary to change the business process, whether there are operating levers (what is the point in predicting a shutdown of equipment if there is still no way to avoid it?).
Benefits of Machine Learning Consulting for your Business
What is evaluated during machine learning consulting services:
- The analysis of the structure of your business together with you;
- Highlighting of the processes requiring optimization together with you;
- Definition of the role of these processes in business together with you;
- Estimation of what data is needed for optimization;
- The search of the main resource costs in the selected processes;
- Analysis of the previous experience in optimizing these processes;
- Definition of KPIs to assess the effectiveness of potential solutions.
How to Choose the Best Machine Learning Consulting Firm for your Business?
Management consulting firms can play an important role in supporting companies. The process requires effort and collaboration from various stakeholders in the company, from executives to experts in the field. This may seem like a long and complicated process. But there are methodologies, standards and tools that can significantly speed it up, for example, the automatic extraction of thousands of concepts from texts and databases.
Consulting Applandeo swift development company shows you which process optimization will bring you the most benefit, but the theory needs to be tested. To determine in advance how much value can be extracted from the accumulated data, a pilot project is being set up. And an already effective project is scaled to the entire company or its divisions.