Machine Learning and Big Data: Opportunities Abound

January 24, 2021

After the industrial revolution in the late 80s and the early 90s, the 21st century is called the information revolution. In this information age, data is power and across multiple domains and industries, analysing huge piles of unstructured data and deriving insights holds the key to transformation and upscaling.

With advents such as deep learning, neural network and natural language processing, computers are inching closer to thinking like human beings, advantageously without the propensity for error which is a boon for the world.

Here are 5 major challenges/opportunities that Machine Learning and Big Data will solve:

1. Traffic Congestion: Globally, traffic cameras generate so much data, which, upon analysis could lead to patterns and guidelines that could prevent further traffic congestion, road accidents and better flow of vehicles within these roads.

2. Marketing Automation: Today’s marketing is highly personalised and targeted. There are capabilities to target one’s device, ethnicity, geolocation and also based on their interests and search results. All these capabilities also lead to a lot of data which, if mined properly could prove to be effective to further narrow down on the ideal customer and serve ads or messaging that is sure to get you a sale or new business.

3. Medical Diagnosis: The healthcare industry runs on data as much as it does on the effectiveness of healthcare delivery. Each patient’s personal profile comprises confidential and important information which could help specialists arrive at the right diagnosis and prognosis quickly. Through big data and machine learning, patterns can be drawn between and can identify potential ailments based on previous data and help specialists diagnose faster and in a transparent manner.

4. Stock Trading: The stock market is a vast ocean of information which if studied properly, could be a literal treasure trove. However, given its volatile nature, it is difficult for normal methods to appropriately analyse patterns. Enter, machine learning and big data analysis. Large corporations leverage the skills of data scientists and analysts to derive insights from the dynamic stock market to skyrocket their growth.

5. Self-Driving Vehicles: Leveraging neural networks and machine learning capabilities coupled with artificial intelligence software(s), companies such as Tesla Motors and General Motors are conceiving self-driving cars that reducehuman intervention in driving, thereby reducing the incidence of road traffic accidents.

Machine Learning, Artificial Intelligence, and Big Data Analysis are more than just buzz words, they are the most buzzing verticals in the information sector.

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