What is machine learning?
In the most basic sense, machine learning comprises algorithms designed to foster independent learning computers. These algorithms allow computers to perform important tasks by generalizing from examples.
Machine learning algorithms parse vast amounts of data, learning from it to make determinations or even predictions about the world. Much of the innovation behind machine learning is driven by the motivation to create computer systems capable of automatically improving from their own learned experiences while determining the fundamental laws of the knowledge acquisition process.
Machine learning is often tied to research or development in artificial intelligence, where computers are being created to correctly generate accurate knowledge of the outside world based on real data.
In another sense of the definition, machine learning is just another form of data analytics, however, one based on the principle of automation. Machine learning and artificial intelligence are concerned with creating data analytics platforms capable of learning from observations, identifying patterns, and even make decisions with minimal human input. As machines learning algorithms are exposed to new datasets and sources, they are able to independently adapt. With the evolution of big data, machine learning has taken on new potential, as machines are able to apply increasingly complicated mathematical calculations on larger and larger datasets.
In application, machine learning helps financial services firms prevent fraud and automate some of the consumer credit scoring processes. Recommendation engines such as those employed by Google and Amazon use machine learning to build consumer profiles and make online product recommendations. What’s required for cultivating a strong machine learning capability is to ensure the data models are trained on the best data. This means complete, robust data sets from all relevant sources across the enterprise, and to ensure the data is complete, accurate and fit for purpose.
How Precisely can help with machine learning
Precisely can improve machine learning outcomes by accessing and integrating application data and machine data from legacy systems into next-gen analytic platforms.
Precisely also offers data quality products that ensure your data is complete, accurate and valid, making your machine learning process more effective and trustworthy.