Top 5 reasons to implement Machine Learning

  • Personalized service for prospects and customers. Call centers are a dying form of service, as Millennials prefer self-service portals with chatbots. As a matter of fact, 44% of US customers preferred chatbots over real customer service reps, if the experience was right and the bots were able to quickly help the customer solve the issue. ML algorithms help automate the service and even if a real customer service has to intervene — the algorithm will analyse their actions to be able to solve such issues in the future.
  • Better applicant screening for HR. Due to simplicity of access to information, there can be hundreds or even thousands of applications for every job posting. Shortlisting these candidates for an interview can be a really daunting task. A specialized ML algorithm can use preset filters and sort out the applicants that lack required technical skills or other needed features, thus greatly decreasing the time and effort spent on applicant screening.
  • Improved financial interactions for billing department. Customers can send payments with some details lacking, and finding out where the sum should be applied can be a real pain. A specialized machine learning algorithm can analyse such payments and predict the missing details, making processing daily financial operations much less stressful for financial department.
  • Better employee engagement and retention. A good paycheck is not the most important part of the job reward any more. As a matter of fact, 35% of respondents to PWC survey on Millennials at work stated corporate training and professional development programmes to be the most convincing feature when choosing a new job. Quite opposite, routine tasks can cause boredom and frustration, which might result in talent loss.
  • Applying machine learning can help analyse the data like history of social interactions and browser searches to provide valuable insights on the employee’s emotional state. This helps understand if everything is fine, or is the talent thinking of a better haven and some additional motivation is needed to keep them engaged. This is especially beneficial for L&D departments that should provide personnel with the opportunities to learn, grow as professionals and improve their satisfaction with the job.
  • Market predictions and business opportunities. There are lots of possibilities to apply machine learning in business practices. From stock exchange and bitcoin trading to analysing the industry-related news feeds, ability to gain insights on important events before they gain notion can provide a competitive edge. For example, learning of a fire at the competitor’s factory that will disrupt their operations can help a business form a targeted special offer package to win the customers that will be inevitably dissatisfied with unfulfilled obligations of the competitor.

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Vladimir Fedak

Vladimir Fedak

DevOps & Big Data lover

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