What is Machine Learning?
Reporting and analysing historic and current data provides you with the knowledge to make business decisions, but can’t help predict what may happen in the future, and can’t reveal hidden patterns in data. The human brain is a powerful device, but it can only cope with so much information!
Machine Learning (or Artificial Intelligence) is a set of techniques that can consume vast quantities of data, and using the power of modern computing can identify patterns, clusters and exceptions from your data. This can then help you predict what pay happen in the future, to make even more informed business decisions.
What can Machine Learning Do?
There’s not much that it can’t do! The following are a small number of example scenarios, but we would customise each ML implementation to be bespoke to your data, your business, and your needs.
- Predicting customer churn – Using historical sales.engagement patterns of your customers to build generic patterns of behaviour, that can then be applied to existing customers and their current sales/engagement patterns, to predict which customers are most likely to churn. This can then provide a much more specific focus for your marketing team to improve retention
- Fraud detection – Scanning sales or transaction, to identify outliers that don’t match ‘usual’ patterns of behaviour, in real-time if required. This can help speed up your fraud team’s identification and investigation, and empower them to be more focused and productive
- Social Media analysis – if your organisation is regularly mentioned in social media, or your have a lot of textual survey responses, manually scanning through them can be very labor intensive. We can run Sentiment Analysis, Key Phrase Extraction and Opinion Mining algorythms over this data, in real time, to highlight and rank those social media posts, reviews or survey responses that need prioritising.
This is only a small sample of ML’s capability, showing the underlying concept that intelligent automation can significantly enhance the throughput of your team, focus your efforts and decision making, reduce costs and increase sales.
How is this done?
The first, and often most time consuming, step is to gather and clean the underlying data that will be used, in most cases implementing an automated process so that you can continue to gather data over time.
Then the Purple Frog team will work with you to understand how your organisation could benefit, what challenges do you face, what are your main pain points, and what opportunities are there.
We will then explore a number of ML options, create a few working proofs of concept, before showing you examples of the capability.
When this has been reviewed and enhanced to provide good results, we can productionise it into the cloud, so that you can consume the output easily in the tool of your choice; Power BI, Excel or other.
How do I get started?
Please get in touch for a free chat with no obligations, to see how you could benefit from machine learning in your business.
Ready to get started? Call 0845 643 6463 or fill in our form.
Purple Frog Systems Ltd
Hadley Park East
"Target is a leading provider of software solutions and services to a client base of businesses within the consumer and commercial finance sectors. With over 28 years experience, it has built a reputation for delivering leading edge business solutions, from bespoke software through to outsourcing and consultancy.
One element of Targets solutions is to provide a data warehouse, over our existing systems and other related systems..."Martyn Rogers, Project Manager, Target Group
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The depth of their technical skill in all manner of BI technologies is matched by their ability to quickly get to grips with the dynamics of the core business and propose and develop innovative solutions..."Geoff Barber, Head of Financial MI Systems, Principality Building Society