How Machine Learning Can Help: Some Key Applications
Machine learning has emerged as one of the biggest buzzwords in the recent years. As per International Data Corporation (IDC), spending on AI and ML is expected to grow from $12B in 2017 to $57.6B by 2021. Deloitte anticipates that the number of machine learning pilots and implementations will double in 2018 as compared to 2017.
As a business, how can you benefit to using the Machine Learning wave to your advantage? Here are a few probable applications :
HR, Employee Engagement, Performance Management
Often, HR managers are tasked with a huge load of manual tasks such as monitoring leaves and vacations, mapping resource availability, managing employee productivity etc. Through the power of big data and machine learning, a lot of the exhausting drudgery can be outsourced to machines. As a result, the HR team can free itself to focus on more critical tasks that require creativity and strategy.
Machine learning can also help identify patterns to predict illness among certain employees, thereby promoting better employee health.
Performance Management is an area that prone to much debate and dissatisfaction among employees, because traditional methods of employee performance assessment are often viewed as being vague and unscientific. ML can help analyze even unstructured data such as emails, chat messages etc. to provide much better overall visibility into performance. It can also suggest appropriate trainings or courses to help employees improve on their scores.
Employee engagement can also go up several notches via the clever use of Machine learning. The use of Sentiment analysis by studying the language and phrasing in internal and external communication can provide a great indication of the employee mood.
Reporting & CRM
Despite the perceived negatives about machines taking away human jobs, the fact remains that machines can do exceedingly well at executing mundane, repetitive jobs such as report generation and CRM. Using machines for these tasks is not only effective, it also frees up human time such that they can focus on more high-end tasks that require creativity, strategic thinking.
Analytics allows you to identify the most common challenges and issues and create a set of features that address them. While humans have been doing similar exercises manually for ages now, the efficiency and scale at which the machine does this is what is truly remarkable.
For any business, ranking high on search engines is a great way to garner new business. Search engine rankings are based on a variety of very complex parameters, not all of which can be influenced.
However, an effective search engine optimization strategy can make a significant difference to company rankings. Even for internal data, an intelligent search engine can help drive better knowledge management.
If you’d like to explore how you could implement some of these into your business, check out Sonata’s analytics offerings to know more: https://www.sonata-software.com/microsites/analytics