Why You Should Integrate Machine Learning in Your App? | 2019
For those who have heard this term for the first time, Machine Learning is a subpart of Artificial Intelligence that employs real-time data to analyze and predict what should be the next action to be taken without being monitored by any human. This innovative technology, with its immense potential, has opened new doors for catering to the needs of the customers and accelerating the sales, resulting in business growth.
Sceptical? Wondering how can this technology empower you to take your business to newer heights? Let’s talk about the benefits of adopting Machine Learning for your business in this article.
Advantages of Implementing Machine Learning
While many entrepreneurs and brands think machine learning is something limited to high-tech firms like Google, Microsoft, Apple, and Facebook, Machine learning – one of the disrupting technology trends for 2020 – is bringing groundbreaking benefits to all the types of businesses. You might be surprised to know that nearly every Fortune 500 company is utilizing the Machine Learning for running their business efficiently. Some of the benefits this technology provides are:
Effective Business Strategies: The technology streamlines the processes of gathering and analyzing the real-time data without any supervision of human. It not only helps the businesses to take actions keeping the real-time insights into consideration but also fastens the process of the same.
Personalized Customer Service: Machine Learning technology makes the customer interaction more natural and continual (due to chatbots). It enables the businesses to gain high-level insights from the customer behavior and come up with personalized offers that bring a smile to the end user’s face. On the top of it, it helps to figure out which user is about to uninstall your application and this way, provide you with an opportunity to lure him/her with better offers and prevent the uninstallation. As a result, it lessens the efforts and cost you need to put in customer retention process.
Upgraded Security features: Machine learning empowers mobile app development experts to access the voice recognition, image analysis and other biometrics to provide a higher-level of security to the end users. For example, the banking systems are able to check the customer previous transactions, borrow history, social media interactions, and other such activities before giving credit ratings, which prevent the risk of providing better ratings to a fraud.
Convenient Recruitment processes: Not only in the product marketing, the technological innovation is also useful in handling the in-house processes like recruitment. It can simplify the process of finding the right candidate by analyzing the thousands of profiles in a few minutes, removing the human biases and cutting down the cost of the whole process.
Enhanced Finance Management:
The Machine learning for small businesses as well as established businesses is also effective to manage the financial resources of the company. The technology, along with Big Data analytics, can automate the processes like payment and invoice analysis, and save the time, efforts and cost required. Plus, it can also prevent the risk of human errors and data breaches.
Now, as you are familiar with the benefits of Machine learning for small businesses (and established one as well), and are well-versed with the future scope of the technology, are you looking forward to implementing machine learning to your business? If so, hire a reputed mobile app development company. Make your app smarter with Machine learning and enjoy higher perks.