Machine learning technology is going through a period of terrific growth, gaining traction last year as it worked to redefine the way that enterprises operate. Its impact has been so big, and so strong, that it is now firmly embedded as essential across a diverse range of industries.
In manufacturing, it’s used for predictive maintenance, estimating propensity to buy and demand forecasting. In retail, for determining customer ROI. In healthcare, for understanding risk; in travel for establishing dynamic pricing; in financial services for risk analytics; in utilities for supply optimization… the list goes on. If a process can be automated and can work as well as (if not better) than it has previously, then businesses will find a way to take full advantage of the new technology on offer.
With such a broad range of possible business cases for machine learning technology, it can sometimes be difficult to sort through clamour of information out there. And while it may be interesting to read about how hospitals are using machine learning for patient triage optimization, that has little real impact on the concerns shared by the majority of consumer facing companies.
Machine learning increases profits and improves CX
Most businesses concern themselves with making sure that they are offering the best possible service to all of their customers. They want to understand their customers’ needs, and provide them with the best possible digital environment to ensure that these needs are fulfilled.
Which is difficult if you can’t identify, or interact with, your visitors as they anonymously browse your website. That’s where machine learning technology can help. We’ve laid it out in the graphic below.
If you’re interested in learning more about how machine learning technology can help your businesses to perform better, drop us a line. And if you’d like to read more about Now Interact’s solutions, click here.