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Think with Google presents Lightning Lessons:
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Machine learning for marketers
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Machine learning: we hear the phrase every day.
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But what does it really mean?
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And most importantly what does it mean for your business?
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At its core, machine learning is pattern recognition.
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As data sets get bigger and bigger,
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machine learning can help us find undetectable patterns
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and predict future outcomes.
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Here are three steps you can take to make machine learning
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work for you and your business.
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As a marketer, your data probably
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exists across different silos.
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By bringing your data together, you'll
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be able to better understand and respond
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to your customers' needs.
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And that leads to growth.
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Once you've got your data all in one place,
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it's time to clean it up and organize it.
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Remember, the quality of your results
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depends on the quality of your data.
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Now that you've integrated your data,
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you’ll want to build an accurate model you can trust.
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Start with an outcome you already
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know to test for accuracy. Like identifying
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The more examples you provide, the more accurate
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your model’s predictions will become,
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recognizing cats of all shapes and sizes over thousands
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In your business, you might not need to recognize cats.
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Instead, you might design a model
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to predict the probability of churn
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by using millions of examples of previous customers
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who have churned and those who have not.
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Instead of cats and non cats.
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This model will help your business
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create better strategies.
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Once you've built a reliable model,
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it’s time for Step 3: Activate.
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This is where you’ll take the output and use it to segment
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your customer base into high, medium, and low risk tiers,
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providing each with a customized retention offer.
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This will help you determine where and how to spend.
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No, Machine Learning isn’t magic.
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But as people expect more personalized, relevant
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experiences, machine learning is powering the tools
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that’ll help marketers make better business decisions,
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faster and more efficiently.
