Machine Learning is a field which studies data driven algorithms. Algorithms outline a set of steps that a human or machine should follow in order to perform a task. Well known examples include calculations such as long division, or cooking recipes.
For these simple algorithms the steps have been predefined, and are entirely static. ML algorithms are designed to independently construct their own steps after being given a number of examples. They do this by discovering and leveraging relationships and structure in the examples provided, which we usually refer to collectively as data.
When applied correctly in business, machine learning can help you access the predictive power of your data, giving you more useful, applicable insights that can improve processes, guide decisions and more.
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