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Machine learning already impacts significant aspects of human life. It has a long history in computer science and statistics, but only recently have we had all the ingredients for the perfect storm that makes machine learning data actionable and affordable. Technology that was previously limited to university research or huge corporations is now available to the public to be incorporated in a wide range of software products.
The case study on machine learning presented at the event described how a 3Pillar client was able to turn raw data on leads (potential customers) into actionable insights. This client captured multiple data points about hundreds of thousands of leads. Predictive algorithms created by the 3Pillar team identified a number of data points that indicated whether or not a lead was likely to become a customer. Using these algorithms, they were able to predict the likelihood of leads becoming customers at any given stage of the lead lifecycle with a high level of accuracy.
"Machine learning makes way for a new class of products that will propel innovative companies to the forefront of their domains. There is an inertia around its adoption due to the steep learning curve and the gap between the analysis and recommendations to the business. At 3Pillar, our engineering and product consulting teams work with clients to do the in-depth business analysis and complex technical work necessary to bridge the gap between business and product teams," said Senior Director of Engineering at 3Pillar Global, Sayantam Dey.
"Machine learning is one of the technology areas that seems to be on the tip of everyone's tongue today. However, as Sayantam mentioned, there is a steep learning curve for most companies to get up to speed with what can be a very complex topic to understand. Further, getting started with incorporating machine learning into what's already a very crowded technology stack can be intimidating. We were excited to get the opportunity to explore an application of machine learning technology that resulted in tangible business benefits for our client and we are looking forward to getting more deeply involved in the world of machine learning in 2017," said Architect at 3Pillar Global, Manoj Bisht.
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