Most people in business today has a level of knowledge of the following words. Big data, deep learning and Artificial intelligence. However, a few really understand what they are about and as a Marketer or business manager, how you could and must take advantage to make them work for you. Since technology has brought massive volumes of information, all decision makers would require to have one of the following tools to support all sort of analysis.
The easiest and broader term of all is Big Data. This is simply what it says. Big data refers when volumes of information is very large, variety is broad and velocity is very high. In a few words, massive data sets brought on by all the new technologies out there such as social media, the Internet of Things and CRMs. These data sets are so large and so complex that no one can’t be able to analyze those using traditional applications. In order to be able to work with all that, you would need to build applications to analyze all this. First, you need to get an early detection of bid data. Enable proper provisioning of storage and retrieval of information, deploy a technology for data analytics and would be important to have an expert on data management. With that in place, you would be able to sensor data, trend analysis, manage information systems, network intrusion detection, to mention some benefits.
Deep Learning is essentially where we can teach a computer to take all that unstructured big data and start to make sense of it using various methods like artificial neural networks (this is something that works similar as a human brain).
However, Deep learning uses algorithms to look for complex relationships in all that big data, and then we further refine those algorithms as they go along to make them better. Deep learning algorithms extract high level of complex abstractions and develop layered hierarchical architecture of learning and data representation. The ability for a computer to learn more over time based on experience, something the human brain does naturally, is also referred to as cognitive computing. Examples of these today are everywhere. IBM cognitive computing platform called Watson, Amazon Alexa, Google assistance, Cortana, Siri, etc. which uses deep learning for translation, speech-to-text, and text-to-speech. Deep learning or cognitive computing is a form of artificial intelligence, which brings us to our next term.
Artificial intelligence (AI), sometimes called machine intelligence, is intelligence demonstrated by machines, in contrast to the natural intelligence displayed by humans and other animals. Artificial Intelligence is where a computer can begin to process data and infer complex relationships just like a human being can. The most popular method to measure that is referred to as a Turing Test.
Some of the usages that AI will help humans are: Personal assistance as they evolve learning, smart cars where they will learn and drive, purchase predictions such as Amazon or Target that will anticipate your needs, Fraud detection for financial institutions, online customer support through chats or even phone, writing news articles just as reporters do now, security surveillance, music recommendation, smart home devices, just to mention some ideas. However we will be hearing more and more every day on the developments and potential of all these.
I hope this helps to get a better understanding of the layers of new technologies and how we can support our daily life and decision making with some of the technologies already available out here.