How Can Manufacturers Use Machine Learning Today?

When a new product is introduced, there is no historical data to predict when certain service parts will need replacement or repair. Missteps in part availability and customer service can be costly in competitive industries. When a manufacturer is introducing a new product, machine learning can use algorithms and analytics to track and determine the launch's success, incorporating data from sales, social media chatter and web traffic, among other sources. This helps manufacturers, particularly in their after-sales service organizations, know when and where replacement parts need to be ordered and stocked, oftentimes eliminating excess inventories and overhead costs. Plus, when parts are stocked appropriately, customers are guaranteed a great service experience.