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How can ML platforms be used to improve business processes?

What are some examples of use cases for machine learning that can be applied in a business setting? 

ITCS user
33 Answers

author avatar

Examples of machine learning in business processes range from phone and chat wizards to systems that can sort and classify customer orders in a work flow. More advanced systems can augment supply chain activities by adjusting inventory based on order parameters, lead times, and demands. These are just a few of the examples where machine learning can be applied. A more general view is any step where information is collected and sorted then acted on using set criteria are good candidates for ML.

author avatar
Real User

Hi Rony,

If you are talking about business process re-engineering, then RPA based automation is based suited for well-defined routine jobs. ML can be used to provide more valuable insights as part of the RPA process based on which you can take various decisions. This depends on the use cases we are trying to solve. E.g. Say in case of banking, where RPA is used for KYC process or say underwriting process, ML can be used to provide predictive score based on which RPA process can take better informed decisions.

Hope it helps.

author avatar
Real User

In business processes ,there are many decision nodes.if the decision is done through set of rules,you can bring in machine learning to evolve this decision process.If you are collecting the metrics,you can predict these metrics and forewarn the stakeholders. In summary if the data is available ,then you can apply ML to make sense of it.

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