A Brief Introduction to Machine Learning For Entrepreneurs and Business Owners
By
Theodore Henderson
The Wisdom Man
Technological advancement in this decade opened many interesting avenues especially when it comes to computer networks, and particularly Machine Learning. Just by analyzing these two words, people can relate this to the so-called “Artificial Intelligence.” What’s interesting in this area, however, is the fact that it is undoubtedly one of a kind and stands on its own as a phenomenal tool for use by business starting with entrepreneurs all the way up to large enterprise companies.
What makes machine learning fascinating is that it has so many uses beyond the obvious, especially when it comes to computers and internet-related services. Supposedly, this should be basic knowledge to almost everyone but, sad to say; only a few know the term. Let’s change that now see below.
What is Machine Learning?
To put it succinctly, Machine Learning is the computers and the related network’s, ability to decide or take a particular action despite having limited data. Just like what humans do, the computer makes necessary improvisations right after analyzing the provided data.
What is an Algorithm?
An Algorithm is a particular set of computing rules that are being followed by programs regardless of its purpose. By analyzing a provided algorithm, a computer can check whether a specific set of data is useful or not. This is a necessary factor when it comes to Machine Learning.
Machine Learning’s Application to Computers and the Internet
Antivirus Programs – Machine Learning is being used to antivirus programs employing Heuristics Engine capability. This feature lets the antivirus detect newer viruses as ‘potentially unwanted programs’ just by analyzing the algorithm of old infections that were previously recorded in its database.
Spam Detection – By analyzing the provided email sending algorithms (i.e., email address, subject, title, links, etc.), computers can detect and categorize legitimate emails from spams.
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Uses By Marketers, Entrepreneurs, & Business Owners
Ad Targeting
Through machine learning, websites such as online stores can collect customer information. The site then analyzes data such as addresses and interests so that it can provide customers with the right product or service ads.
Using machine learning, business establishments and their websites can reach out the right customers that are in need of their products and services.
Data analysis and speed
According to Econsultancy’s 2018 Digital Trends Survey, 49% of respondents say they are using AI for the analysis of data – more so than for email marketing and on-site personalization. https://econsultancy.com/marketing-and-machine-learning-from-data-analysis-to-creativity-at-scale/
Targeting what customers want
By leveraging via smart applications how Google, Amazon, Netflix and other monolithic online platforms use Machine Learning to deliver semantic results based on algorithms that evaluate a user’s search, purchase and viewing history to better understand what they’re looking for or more likely to want. https://www.entrepreneur.com/article/312016
The data they have at their disposal is extraordinary. A recent global digital report published by We Are Social and Hootsuite states that the number of people using the internet to search has hit 4 billion people in 2018. Every second, there are approximately 40,000 searches processed, which equates to 3.5 billion a day, or an incredible 1.2 trillion searches per year. Each year, all of “connected” humanity spends the equivalent of 1 billion years online! https://www.entrepreneur.com/article/312016
Machine Learning Con’s
It is good to know that Machine Learning has many benefits. However, there are also downsides to this. Listed below are the following:
1. Machine Learning isn’t a perfect platform.
Since Machine Learning is still ‘learning,’ it is prone to errors. It could mean ‘false positives’ in antivirus programs and ‘not spam’ in emails.
2. Machine Learning can pose a potential security flaw.
Machine Learning mainly depends on gathering data so hackers can also obtain those once the computer or website’s security has been compromised.
3. Malware is also capable of using Machine Learning.
Just like Antivirus programs, malicious software (e.g., viruses, trojans, worms, adware, etc.) also uses Machine Learning when compromising target computers. By using the provided algorithm, they can exploit the entire computer’s system without being detected or prevented by its defenses.
Now that computers and the Internet are recommended platforms for business, and having extensive knowledge about machine learning is very necessary. Keep in mind, however, that you must have a particular goal to use it effectively.
So my fellow entrepreneurs and business owners embrace the technology but with care and safety always in mind.
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About The Author
Theodore Henderson works with business owners, entrepreneurs, and corporate professionals. He is an Amazon best-selling author, a Certified Career Coach, a Certified Leadership Coach, and a Certified Social Media Security Professional Powered by CompTIA. In addition he is the author of the business program “Launching Your Great Business Idea,” as well as the author of the following books; “The Wisdom Compass: Your 31-Day Journey to Wisdom-Filled Living
”, “9 Simple Strategies to Becoming a Strong Leader
” and the Security eBook “30 Smart Ways to Protect Yourself from Cyber Criminals
” aimed at owners of Smartphones, Mobile Devices, and also those who have significant online activities including Social Media, financial services, etc. He is available for keynotes, seminars, and workshops. He may be reached through www.TheodoreHenderson.com.