No matter the size of the enterprise, no business disputes the importance of understanding customer preferences or behaviors. For small to midsize businesses (SMBs), that understanding can appear to be accessible only to bigger enterprises; however, solutions equipped with machine learning can not only provide information about customers, but also assist in creating actionable strategies for utilizing it.
Machine learning plays a key role in equipping security teams with insights into normal access patterns and identifying behaviors that occur in a time or location that is out of the norm. As machine learning expands in security, teams are able to use automated monitoring, threat identification, and resolution, freeing up security professionals to address more complex threats.
Defining Actionable Data: One of the common challenges that SMBs and their larger counterparts face is the distinction in which pieces of data will be useful for business insights. While it’s possible to collect an almost infinite amount of data, there are certainly limits to the cost-effectiveness of storing, analyzing, and creating strategies around data. In order to recognize actionable data, the following qualifiers can be applied:
- The data is mined from a reliable source and is verifiably accurate.
- It is accessible in terms of both cost and ease of use.
- Machine learning can be applied for greater insights.
- The data is presented in a way that allows for organization and siphoning.
Not Just for Big Enterprises: Data mining, analysis, and application aren’t reserved only for larger enterprises. The accessibility of the latest technology through cloud-based solutions available on a subscription payment model have, in some ways, leveled the playing field for SMBs wanting to better understand customers’ behaviors and needs.
While machine learning solutions offer tools and features that allow for collection and analysis, they also have the ability, over time and experience with your data, to recognize anomalies and new patterns. This means that as a new trend is emerging in customer preferences, a machine learning-equipped solution has the capability to alert marketing professionals to the change. Recognizing such a shift in the market before one’s competitors offers an opportunity to improve the customer experience and gain market share.
The benefits of machine learning extend beyond gathering customer information. If your industry is in a segment of the market experiencing a talent shortage, it’s critical that you gain a clear understanding of what attracts the best talent, as well as what factors influence a valuable worker to remain with your company for the long term. Machine learning can help shape strategies for talent management.
Equipping SMBs for Machine Learning: SMBs interested in harnessing actionable data for growth strategies, talent management, and cyber security need to ensure that the infrastructure is in place for a successful implementation of machine learning solutions. For instance, an enterprise accessing a cloud-based tool may require a network upgrade that supports the performance and speed specifications for a cloud solution.If you’re interested in learning more about machine learning and the potential it holds for actionable data surrounding marketing, talent management, and security strategies, contact us at Cory Communications.