Machine learning focuses on developing computer programs that can access data, analyze it and use it to learn. Visit a website, and you don't need to wait long for an ad to surface on your timeline. "These new technologies allow companies analyze tons of data in real time, 24/7, getting deep insights. Effective business marketing reaches its audience and creates conversions. For want of a better strategy, marketing campaigns have taken a trial-and-error approach. Imagine your marketing efforts were seen mainly by the people you want to see them -- people who've searched for what you have to offer, or whose online behavior suggests they're mostly likely to be interested in your products or services. Machine learning has the potential to reduce much of marketing's imprecise nature. Machine learning drives our algorithms for demand forecasting, product search ranking, product and deals recommendations, merchandising placements, fraud detection, translations and much more." It reduces costs. Machine learning's precision informs production and distribution for offline materials, too.
I do a great deal of research on business trends and online tools that can enhance business productivity. Naturally, I visit and monitor many websites and website content. And just as predictably, I encounter ads from those same companies on my Facebook timeline. More surprising is how well Facebook integrates search behavior and online activity to increase ad campaigns’ integrity and specificity.
Machine learning can be defined as an application of artificial intelligence (AI) that provides systems the ability to automatically learn and improve from experience (without explicitly being programmed to do so). Machine learning focuses on developing computer programs that can access data, analyze it and use it to learn.
It’s not just futuristic-looking products such as Siri and Amazon Echo. And it’s not limited to companies we typically think of as having huge research-and-development budgets — the Googles, Facebooks and Microsofts. In reality, machine learning already is helping nearly every Fortune 500 company run more efficiently and make more money.
Here are five reasons companies on the up should start applying machine-learning marketing strategies on their respective scales.
1. It brings ‘real time’ to life.
The phrase “real time” has been touted among marketers for years, but it wasn’t really possible until machine learning showed up on the scene. No prior system came close to the level of responsivity that machine learning provides. Consumers see offers change by the minute based on the virtually unlimited data their behaviors create for machines to process. Facebook’s retargeting ads are just one example. Visit a website, and you don’t need to wait long for an ad to surface on your timeline.
“Machine learning and other cutting-edge technologies have opened new opportunities for investing their marketing budget smarter,” says Rafa Jimenez, CEO of Adinton. The company is knee-deep in providing machine-learning solutions and more to businesses. “These new technologies allow companies analyze tons of data in real time, 24/7, getting deep insights. Managing big data and getting powerful and actionable insights are going to be…