Machine learning and the retail market

Using algorithms that iteratively learn from data, machine learning allows computers to find hidden insights without being explicitly programmed where to look. Although many such algorithms have been around for quite some time, current machine learning, which includes the ability to automatically apply complex mathematical calculations to big data – over and over, and faster and faster – is a fairly recent development. This ability is useful in a number of vertical markets, and can already be seen to be having an impact in the retail environment. The go-to example of machine learning in this space is how major online players like Amazon and Netflix regularly offer recommendations to customers of potential products they might also like. These recommendations are determined via machine learning, which parses through previous choices made by consumers and other products they have looked at on the Web site.