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Technology

How Is Data Science, Machine Learning & Artificial Intelligence Beneficial to Us?

written by Vaibhav Sharma | Jul 14, 2020
Data Science, Machine Learning & Artificial Intelligence Beneficial

Technology is the tool that is empowering the human race with its astonishing innovations. Almost every object that we come across is based on the foundation that has a significant share in digitizing our lives.

Determining which is better data science or artificial intelligence is undermining one over another. However, both the technologies have their contribution to revolutionizing not only the business operations but also the lifestyle.

This article aims to cover the technologies that have become a major sector of investment in the IT industry. Scroll down to know about Data Science, Machine Learning and Artificial Intelligence and their role in evolving our lives.

Data Science

Data science is the technology that lets us process large chunks of data in a lesser time than manual processing. It is now possible to study complex data and extract information, thanks to new-age technology. Also, there is a significant role of machine learning in data science that enhances its functionality in various sectors. 

Scroll down to read about the scope of data science-

Read more: How to choose the best online course to learn Data Science?

Applications Of Data Science

Detecting fraud: It has been experienced that data science is helping companies with the capability to split the data for better organizing it and effective screening. 

Banking institutions get relief by analyzing the customer’s behavior and find out the probability of risk and default. Banks are now able to extend their services on the basis of customers purchasing power.

Medical image analysis: With the help of machine learning and data science, healthcare professionals can now precisely detect tumors by imaging. 

Marketing: Various aspects associated with marketing are driven by data science. Data science can help in target-based advertising that can be an effective source to boost sales. 

Machine Learning

Machine learning is the next hot topic when it comes to technological advancement. It is seen as a branch of artificial Intelligence. Providing machines with the ability to learn with experience, the role of machine learning in data science is not limited and ultimately. 

If you are fascinated by machine learning app development, this article is likely to answer your basic questions related to it.

Machine Learning Algorithms

There are three categories into which we can divide the process of machine learning algorithm-

Supervised, Unsupervised, and Reinforcement machine learning.

Supervised Machine Learning

Most of the practical machine learning is based on it. Supervised machine learning uses input and output values and follows an algorithm for the mapping function, i.e. Y = f(X).

In supervised learning, the output value can be closely predicted with the help of new input variables with the ultimate goal being to neatly organize the mapping function.

Supervised learning is renowned by its title for its relativity with a mentor supervising the process. The prediction of the data acquired by following the algorithm is corrected by the teacher/mentor. Once the algorithm achieves the result that is desired, the learning stops.

It can further be categorized into classification and regression problems.

A supervised learning problem can be stated as a classification problem if the output data retrieved is a category.

In case if real value is retrieved as the output data, then the supervised learning problem is a regression problem.

Unsupervised Machine Learning

Unlike supervised learning, unsupervised learning does not involve any teacher for autocorrection.  

Unsupervised learning can further be classified into association and clustering problems. 

Association problems help the user to determine rules that govern the significant aspects of the data.

In case when it is required to determine the grouping in a dataset, clustering problems come into play. 

Reinforcement Machine Learning

Reinforcement machine learning is that part of the technology that involves scrutinizing how software behaves in an environment. In reinforcement learning, the reinforcement agent takes the lead to execute.

Developing Machine Learning App

Considering the steps that are mentioned below, shape up the data science machine-learning artificial intelligence app development in the right direction.

Framing problem: The foremost step involved in machine learning involves framing a problem for the machine to find the target answer. 

Collect and clean data: Collecting and analyzing the useful data is the step that is followed in the machine learning app development process. Make sure to dump any unnecessary data that may affect the accuracy of the result that is desired. 

Data preparation: Converting the data into a readable format is the next step related. Machines cannot interpret data such as images and hence requires to be converted into numbers. 

Feature engineering: In case when the raw data does not prove to be as effective for achieving the result desired, combining multiple features becomes the need of the hour. Feature engineering refers to creating new features with the help of existing features.  

Training model: Splitting the data into training and evaluation is required to check how the technology performs on interacting in a real-time situation. 

Improving accuracy: For the machine learning app to be a success, it is important for it to achieve accuracy on any validation set. A variety of accuracy metrics can be used that can be determined by the type of application. 

Model in production: The most complex phase of the process is the production. After going through a series of evaluation tests, the machine learning app should be all set to be used in production. 

Machine learning software development is a complex that needs to be carried under the supervision of an expert software development company. Machine learning has the capability to boost your business performance and can be used to perform automated processes.

Read More: Machine Learning vs Deep Learning – A Detailed Comparison

Investing in the new age technology can help you to enhance the customer satisfaction hence giving your business a cutting edge over the obsolete techniques.

Basics Of Artificial Intelligence In Business Operations

The term Artificial Intelligence is one of the most fascinating of all the human creations. It was only an idea of machines processing like humans until the AI technology made its way into the market. 

Now, with the advance substreams of AI like machine learning, the businesses are able to process data more efficiently. In fact, it has been witnessed that processing large amounts of data has not only become accurate but also less-time consuming when compared to humans performing the same tasks. 

Another example of deep learning tells us about its significance for purposes like fraud detection.

Talking about the present scenario where Artificial Intelligence services are used by many sectors as a supporting tool to improve their business quality and unfold the hidden potentials of the technology.  

How Artificial Intelligence can benefit your business and ROI

Benefit of AI in your business

Let us peek into the benefits of using Artificial Intelligence Services in the business operations.

Increased accuracy: One of the most considerable benefits of Artificial Intelligence in your business operations is that it increases the accuracy of the execution of work. As the technology does not have mood, distractions, health issues and much more that makes it less susceptible to errors.

Also, it does not make the process automated, but the incorporation of Artificial Intelligence also means the same and accurate results without any fatigue. 

It means, by increasing the accuracy, AI will eventually increase your ROI.

Increase productivity: There are many ways by which AI enhances productivity, and hence the return on investment. 

Tasks that are monotonous in nature can be completed by artificial Intelligence. By replacing manual work from automated, optimal utilization of the human resource can be done. Employees can be assigned to strategizing the business instead of doing labour-intensive, repetitive work. 

Reduce cost: The sole purpose of any business is to earn a profit. The earnings from your business can be efficiently maximized with the help of artificial Intelligence. 

Artificial Intelligence helps you reduce the operational cost that makes the business cost-efficient. By automating the process, the need for employees is eliminated (minimized) that saves not only the money but increases the accuracy and hence the quality.

Business operation 24 X 7: The quality of not getting fatigued unlike humans will promote business’s smooth functioning. The automation of work, once done manually, will help in allocating the human resource for tricky tasks rather than doing repetitive tasks. 

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It will promote an increased rate of production that means more business and therefore, more ROI.

Better customer service: Using these advanced technologies in your business operation can help enhance the quality of customer service. 

It can help provide automated resolutions to customer’s queries that will not only eliminate the need of human employees for customer service but will also offer consistency and smooth operation.

The application, as mentioned above of Artificial Intelligence, is shaping the way the businesses used to function and deliver their services to their customers. 

Integration of Artificial Intelligence will not only provide enhanced customer service experience but also ensure better employee engagement making it worthwhile.

Future of AI

Artificial Intelligence is sometimes referred to be the second coming in the software world. It enables the machine to take its own decision. 

What makes it more advanced over the traditional software is that it has wide latitude. Let us see how can it change the way we used to interact with people and objects on a daily basis-

  • AI technology can eliminate the need for manual searches on a search engine. Instead, with the help of the sensing capabilities, you can get automated results that will be more convenient.
  • It can send you automated alerts ensuring no updates are missed.
  • Experts suggest that technology can be helpful in the restaurant business for enriching the customer experience. Also, it has the potential to transform the entertainment industry by providing interactive sessions.

Read more: The Good & The Bad: The Future of Artificial Intelligence & Robotics

Final words

Data plays a vital role in maintaining the integrity of businesses. Poor control over data creates challenges for the smooth functioning of any business. Data science helps you cover every single aspect of data and knowing the consumer behaviour to conduct accurate calculations. 

BR Softech Pvt. Ltd. is a leading software development company that inculcates modern technology like data science, machine learning and artificial intelligence in its practices.

Vaibhav Sharma

A technical graduate with a passion for learning. The creative and optimistic mindset landed him in the field of content writing. He has been educating the readers with his words that reflects his experience led wisdom in the IT sector about advancing technologies.

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