Ah, a new month and a new theme, which just happens to be all about Machine Learning. Did you know that Machine Learning is all around us in our daily lives and more often than not has a big influence on the decisions we make? So what is it and why do we need it?
Let’s find out, shall we?
Machine learning is a subfield of artificial intelligence. It’s goal is to enable computers to learn on their own. A machine’s learning algorithm enables it to identify patterns in observed data, build models that explain the world, and predict things without having explicit pre-programmed rules and models.
What the heck does that mean? If that’s a bit much for you to swallow, let me help by breaking it down into more, bite size, relatable explanations. As I said before, Machine Learning is a massive part of our daily lives, which you may or may not already know. Here are some examples you might be familiar with:
You know when you upload photos to Facebook and it automatically highlights your friends faces to tag them? Yup, Machine Learning. You may also have noticed how personalized your newsfeed is and that you see posts or ads that are more relevant to your interests. Yup, Machine Learning, again.
You know that one old school song you listened to that triggered numerous other old school song recommendations? (we have some interesting playlists going in the office) That’s Machine Learning at work. It figures out your likes and dislikes and provides you with a list of related tracks.
Takes your viewing habits and preferences into consideration to make sure they provide the most personal recommendations for you to watch.
Offers recommendations and suggestions based on previous searches that you have done, or images etc.
When you get notified on the best route to take home due to traffic, or recommendations of places nearby, such as restaurants, shops etc.
Whatever you search for when shopping online you might notice a list appear of the most relevant products related to your search. You may see recommendations for products you’ve browsed as “people who viewed this item also viewed” and “people who bought this item also bought”. ;
Your everyday financial transactions rely heavily on Machine Learning which can help with detection of any fraudulent activities amongst many other things. Think mobile banking apps, or Xero accounting for businesses etc.
Well you get the gist of it, right? That’s just a few examples of where Machine Learning is working. Some more examples would be Youtube, Instagram, PayPal, Uber, Mr Delivery and so MUCH MORE!
As you can see, data is the key ingredient that makes machine learning possible and the human brain just can not comprehend all the data available! You don’t have to understand all the technical details of machine learning but understanding the basics of machine learning and its benefits will definitely help you make better decisions when it comes to your marketing efforts.
Find out more about why Machine Learning is so important when it comes to the digital industry and more specifically within Paid Media, in our upcoming Vlog Series.
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