Machine learning is a term that is often thrown around in the modern day of technology. But what does it actually mean? How does machine learning relate to data? And how does it benefit all of our lives?
Machine learning put simply, is the analysis of data to achieve a result. We are now in the modern era where data is abundant. That is where machine learning comes into play. It allows us to gain new insights from data that we might not have picked up without machine learning. There is naturally a lot of information in today's world, due to the ability we have to store it digitally. A supermarket stores information on its customer's purchases, a bank stores the history of its transactions, and a school stores the performance of its students.
This abundance of data can be analyzed by machine learning algorithms to create valuable and useful insights. For example, the data from the supermarket store can be analyzed to determine which customers will buy which products, and therefore allow for more efficient advertising. How does the computer analyze the data you might ask? There are many ways the computer can analyze the data in the form of machine learning algorithms. Some algorithms are better suited for certain tasks than others. Some require more time to run while others are more efficient. In the example of a supermarket store, an algorithm commonly used is called Basket Analysis. In basket analysis, we calculate the probability that an event will happen given another event has happened based on past data. Lets say past data shows that 70% of people who buy chips also buy beer. A new customer named Mark buys a bag of chips, then it can be concluded that Mark has a 70% likelihood that he will buy a beer. The supermarket can now recommend a beer to Mark and will be likely to sell it. Of course, this concept is implemented in a computer to be autonomously done.
Other applications of machine learning include the diagnosis of diseases. Machine learning can help doctors identify diseases much quicker through analysis of past patient's data. Self-driving cars use reinforcement learning to learn how to drive and adapt to their situations. Weather forecasts use past information on the weather to predict what the weather might look like in the future.
As I mentioned earlier, there are different kinds of machine learning algorithms. They can be classified into three main categories: supervised learning, unsupervised learning, and reinforcement learning. Supervised learning has a supervisor, aka the programmer, who tells the algorithm what is right and what is wrong. Unsupervised learning algorithms only have the data to work with and they find regularities or irregularities within the data. Reinforcement learning is similar to unsupervised learning in that it does not need a supervisor. However, it differs because a reinforcement learning algorithm learns from a sequence of actions, like a chess bot.
In conclusion, there is a lot of data now and machine learning takes advantage of that fact. It can be used to benefit businesses, medicine, and other sciences. Machine learning is used globally and has improved our quality of life and will likely continue to do so in the foreseeable future.