Developing Machine Learning Strategy for Business in 7 Steps

What’s so special about machine learning

Step 1. Articulate the problem

Step 2. Consider the prescription

Step 3. Ensure that the quality of your data is good enough

Qualify your data and decide the minimum prediction accuracy

Be ready to break down silos, anonymize, and share data

Good news: Data can be fixed

Step 4. Prepare to bridge the gap between technical and business vision

Step 5. Explore the options to hire the right talent

Hire a data scientist and be ready to engage

Homegrown specialists

Find a vendor team

Build relationships with educational institutions

Step 6. Models become dated, be ready to iterate

Step 7. Decide whether you need a custom-built algorithm

Is it the right time to adopt machine learning?

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