Next big thing: rise of the machine learners

‘It’s really the web that has been the game changer, giving us access to vast amounts of data to train the models and help them learn’ For years, statistics were commonplace in business decision-making processes, but organisations are now shifting toward machine learning and predictive analytics. While data science focuses on the extraction of information from data, predictive analytics focuses on using data to predict and prescribe behaviour. The more information gathered on past behaviour and occurrences, the better the causes and effects of these occurrences can be understood. This, in turn, allows businesses to recognise when a similar situation may arise, and how best to handle it. The more information or details collected and analysed, the more specific and accurate models and predictions will be. ‘Machine learning has a…

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