Machine Learning and Marketing In Today’s World

Old fashioned marketing
Pixabay

The old way of managing data, improving intelligence gathering, and creating more ways to be efficient in an effort to increase revenue, brand awareness and engagement is soon to be part of the marketing archives. In today’s wave of technological change, artificial intelligence (AI), machine learning (ML) and marketing are becoming intertwined.

The two words are many times thought to be interchangeable, but there are differences between ML and AI. Machine learning is a subset of artificial intelligence that allows the training of algorithms by a computer, so that when data is entered into the system, it will figure out what the best course of action is and continually improve upon it.

AI has a more broad definition. To oversimplify the contrast, it is basically a computer program that does something smart.

In the case of Big Data, which is the massive amount of data being analyzed in order to improve how our personal lives, business, and ultimately our world operate, machine learning is at the forefront of these sweeping changes. The following article discusses some applications of Big Data:

What is Big Data

  • Companies use big data to better understand and target customers by bringing together data from their own transactions as well as social media data and even weather predictions.

    Using Big Data for Marketing Decisions
    Wikimedia Commons
  • Businesses optimise their processes by tracking and analysing their supply chain delivery routes and combine that data this with live traffic updates.
  • Others use machine data to optimise the service cycles of their equipment and predict potential faults.
  • Big Data is used in healthcare to find new cures for cancer, to optimise treatment and even predict diseases before any physical symptoms appear.
  • Big Data is used to analyse and improve the performance of individuals (at sports, at home or work) where data from sensors in equipment and wearable devices can be combined with video analytics to get insights that traditionally where impossible to see.
  • Police forces and security agencies use big data to prevent cyber attacks, detect credit card fraud, foil terrorism and even predict criminal activity.
  • Big Data is used to improve our homes, cities and countries by e.g. optimizing the heating or lighting in our homes, the traffic flow in our cities, or the energy grit across the country.

See the full post here:  What is Big Data

The use of Big Data is fundamental in finding solutions to these problems, helping make our personal and professional lives more productive. Even though it is a fairly new buzzword, ML has been around for quite some time now.

Another term that is used in conjunction with machine learning is neural networks, which is a computer system modeled after the human brain. The concept of machine learning and neural networks were developed in 1950’s, but it wasn’t until the early 90’s that it became more popular.

Even a Excel spreadsheet can be used for machine learning, as seen in the following video:

What a great representation of how marketers can analyze data and use it to their benefit.  That is why an online marketing specialist is so valuable to a business owner in Denver or anywhere in the world.

Spending the day evaluating and testing to find the best solution isn’t something most CEO’s have time for. They are busy managing everyday tasks and long-term goals, and they need to assign certain aspects of the company to others.

This description sums up machine learning and marketing in today’s world:

How Machine Learning Will Be Used For Marketing In 2017

Machine learning techniques are being used to solve many diverse problems, and we stand to benefit as we move towards a world of hyper-converged data, channels, content, and context — having the right conversation at the right time with the right person in the right way. For us marketers, ML is about finding nuggets of “predictive” knowledge in the waves of structured and unstructured data.

Read the full post here

machine learning and marketing
Pixabay

The Senior Vice President of Ads and Commerce at Google, Sridhar Ramaswamy, stated “We can apply our data, intelligence, and scale to help marketers deliver the most useful messages for each and every micro-moment.” Wouldn’t it be nice to have a crystal ball to foresee these micro-moments?

Well, you can have the next best thing…it’s called machine learning.

Embracing Big Data is overwhelming and somewhat confusing, but is a critical component for online marketing. Start small, as the video mentioned, and work your way into more complicated calculations.

If you are just starting out and not sure where to begin, find a mentor to learn from. Having an intelligent group of like-minded people that you can bounce ideas off of and glean information from, such as a master mind group, will also help the lone marketer to not feel so alone.

 

Machine Learning and Marketing In Today’s World was originally published on S&S Pro Service Blog

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