Whether you realize it or not, deep learning is becoming increasingly important in business.
From self driving cars, to more common subjects like personalized entertainment on Netflix, deep learning and Artificial Intelligence are all around you. This is a key element to gaining content intelligence and it’s something you should consider implementing in your business to learn more about your audience.
First, let’s look at what makes deep learning different from regular machine learning.
Deep learning is a subset of machine learning that involves a complex set of neural networks inspired by the human brain. It uses deep learning algorithms to parse through hidden layers of the data. It will perfect the tasks it does, each time making changes to the performance of those tasks through learning frameworks.
By doing this, the deep learning machine can come up with solutions to real world problems, even when working with large amounts of unstructured data. It is also important to know, unlike machine learning, deep learning is a form of unsupervised learning and doesn’t need the work of data scientists.
Continuing with the idea of analyzing large amounts of data, your business can utilize that data to optimize and tailor customer experiences.
One way you can do this is by tracking in-store traffic. The neural networks in deep learning systems can determine how many customers shop, at what time, and in what department. The in-store images can help you learn more about the customer, and even make in store staffing decisions.
Another way you can use deep learning to help your business is through transactional data. Going a little deeper than just tracking in-store traffic, this will give you concrete information on what customers purchased, when they purchased it, how they purchased it, and at what price.
Having all of this customer information at your disposal, and combining it with deep learning techniques can really help you get an idea of what your customer wants. Learning algorithms and their neural behaviors can help determine that for you. This way, you will be able to personalize your strategies to those wants, and reach success with your audience.
Another technology that is being used to connect with customers is chat bots. As you may have suspected, chatbots are not actually people, but bots that use natural language processing and deep learning to communicate. The bots use learning techniques and a system of artificial neural networks to gain insights from customers, and edit their responses to be more effective and human-like in the future. You can see how the deep neural networks and deep learning algorithms work like the human brain and can be helpful through this kind of technology.
Besides just helping customers, leveraging chatbots and their artificial neural networks can do a lot for your business. One example of this is generating leads and revenues. For example, on a website called Drift, the chatbot helps direct customers to the help they need using natural language and learning models, ultimately saving time for salespeople.
If clients are interested in making purchases, the bot follows the model to take their information and get them connected with a sales person. In any situation, the bot will sift through it's networks of knowledge to create the best response for the user. This makes the process more effortless for the business, and will help raise profits! It also creates a seamless customer experience which is most important.
Another way you can use machine learning to improve your business is through price optimization. As you probably know, it is difficult to know what the price of an item should be in regards to the market, your competition, the demand, and your company’s goals. Using the power of deep learning models, figuring out pricing will become effortless. The model doesn’t even requiring programming, but like with chat bots, the model learns and adapts through experience. As mentioned, this type of Artificial Intelligence doesn’t just determine the best price for your customers, but considers the market as a whole. This is similar to what machine learning can do for social media marketing.
As you can see, machine learning can simplify processes in many different areas of a business. By implementing this neural learning technology, you can get insights into your data, putting your company at a great advantage. Using deep learning methods help you get a better view of your customer, which will allow you to create a personalized experience. This not only supports sales, but will allow your company to work more effectively and seamlessly as a whole.