How Machine Learning Helps in Business Decision Making | OCTOBER 2022

The massive surge of AI — Machine Learning especially — across businesses of different industries has
proven to be crucial and has become an essential in keeping that competitive edge in today’s fast-paced
digital world. And there are no signs of stopping for Machine Learning, if anything, it’s on the brink of
revolutionising how businesses run their day-to-day operations and most especially, how they make AI-
based decision making for further growth.

In fact, the Australian market today is increasingly showing interest in implementing Machine Learning
to their business by 82%. When it comes to Machine Learning in decision making, this powers a plethora
of businesses, especially ecommerce, in Australia to better understand their target customers with the
help of past consumption behaviour data that opens to opportunity to better the effectivity of cross-
selling strategies, providing highly relevant add-on recommendations for each customer during the
checkout process.

And that’s just scratching the surface of an even bigger world of Machine Learning solutions. To learn
more about the best Machine Learning Software, click here.

What is Machine Learning?

Let’s get properly acquainted! Often intertwined with each other, Machine Learning is within the realm
of Artificial Intelligence. It is a form of Artificial Intelligence that enables machines to essentially learn
patterns and make better decisions based on the provided data and learn how to accomplish complex
tasks without the need to heavily program the machine or constantly require human assistance.

This technology is simply brimming with possibilities, its tremendous impact on companies has
completely transformed how we work. And did you know that Machine Learning is more internally
focused? 48% of Machine Learning cases are focused on operational efficiency and 46% for business
decision-making.

There is no doubt about Machine Learning’s power to supercharge a business, no matter the industry or
individual goals for each business! If you find yourself searching for case studies about Machine
Learning, you will find an interminable list of successes, including industry heavyweights.

To save you some time, we have narrowed down the best Machine Learning case studies in our blog.

How can Machine Learning help in decision-making?

Now, making smart business decisions can be a daunting feat for many. As we move forward to a more
advanced age as a society, making calculated and data-driven decisions has never been this easy!

How?
Well, when you have a massive volume and a large variety of data, it’s undoubtedly overwhelming and
not to mention, extremely complexed for a human mind to crunch down this many numbers and come
up with the right information. Machine Learning takes these vast data sets and speedily unlocks value
with immaculate information from the data given unlike any other human. In turn providing you
profound guidance in better business decisions.

In the decision process, Machine Learning algorithms are designed to make data-backed predictions and
produce insight about a pattern in the data. From experiencing the pitfalls of constantly having to make
decisions for your business that ultimately slows you down, to a seamless process of garnering data and
having your Machine Learning solution make smart decisions with the best possible outcome.

The world is right on the edge of a computing technology revolution, to learn more about how you can
make the most of its incredible potential right now, get in touch with us!

The Future of AI
So, what’s next? There are endless possibilities with Artificial Intelligence, but one thing’s for sure, it’s a
bright, smarter future waiting to be unlocked.

With Artificial intelligence now being widely used in Australia, from self-driving automotives to
healthcare tools to making clinical decisions, this revolutionary piece of technology shows no signs of
stopping. It is reported that 79% of Australian organisations believe AI will be ‘very’ or ‘critically’
important to their business. Machine Learning is continually enabling businesses to optimize and
streamline a plethora of processes to meet the growing digital demands.

So, expect exponential growth in Australia’s AI capabilities in the coming years. While Machine Learning
and Artificial Intelligence as a whole are still developing, remaining hesitant to adapt and learn would
only mean missed opportunities that Machine Learning has to offer for your business, no matter the
industry you’re in.

LET’S WORK TOGETHER

Lateral is a software development company from Perth, and we are passionate about delivering strong,
robust software solutions to our clients of different industries and needs. We specialise in enterprise
level systems that can solve many of the problems that businesses face as they grow and adapt to an
ever-evolving marketplace. We proudly stay ahead of the curve in a fast-paced industry that is
constantly changing.

No problem is too big that it can’t be solved with a little bit of lateral thinking.

Ready to join the digital evolution? Get in touch!