ABSTRACT
Technology has been gaining popularity in recent years, and many businesses are adopting it as a way to save money and simplify their operations. However, there is a growing number of organizations that are facing challenges when deciding on the best way to implement machine learning. This chapter provides an overview of the term “machine learning in business,” as well as how machine learning (ML) algorithms can be used to benefit the company’s operations and activities. Business leaders must store, analyze, and retrieve a vast amount of data to make wise decisions that will provide them with a competitive edge. ML is regarded as a subclass of artificial intelligence that focuses mostly on streamlining business procedures with little to no human involvement. Large data sets may be analyzed using ML approaches, which also give management the knowledge they need to make wise decisions in a variety of domains, including marketing, supply chains, human resources, and finance. ML is a technique that enables data to be extracted from databases and used to forecast future trends. It has enabled companies to make more accurate financial decisions, as well as more effective business decisions. This process is currently being applied in the current competitive market, with opportunities for leading organizations to leverage large amounts of data.
