Machine learning is a process for computer to automatically train models from historical data and output results. As new data is fed, the modeling algorithms automatically train statistical models to fit new data. The process keeps going so that the models are updating to produce updated outcomes.
Six components of Machine Learning
Companies in retailing, healthcare, financing, and entertainments are severing hundreds of millions of customers. Knowing customer preferences and shopping behaviors is important to server customers better while companies still generate good profits. In these complicated marketplaces, right offers at right prices at right time are more effective than one-size-fits-all. Machine learning technologies can identify market opportunities, help efficient business operations, make smart decisions, and take quick actions.
Followings are some areas where big data analysis and machine learning technologies heavily applied:
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