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Machine Learning & AI: How to Implement It & Drive Business Momentum

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The data science game has always been the same: collect data, manipulate it, and translate that into a metric or model that will help businesses drive impact.

So why all the fuss about machine learning and data science now?

Put simply: more power. A lot more power.

While the algorithms and statistical processes being used today have been around for decades, the speed at which we can perform those processes is increasing dramatically. An algorithm can now be optimized by running a million adaptive statistical models over and over until they converge on that perfect equation to predict customer response, as an example.

So you can think of machine learning as using this massive computing power combined with advanced algorithms to automate the execution of existing statistical processes – it is the evolution of statistics in business.

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Machine Learning & AI: How to Implement It & Drive Business Momentum

  1. 1. Machine Learning & AI How to Implement It & Drive Business Momentum
  2. 2. 2#STRATEGICMOMENTUM
  3. 3. The data science game has always been the same: collect data, manipulate it, and translate that into a metric or model that will help businesses drive impact. So why all the fuss about machine learning and data science now? 3
  4. 4. Put simply: more power. A lot more power. 4
  5. 5. Why Machine Learning Now • Algorithms and statistical processes being used today have been around for decades. The speed at which we can perform those processes is increasing dramatically. • Algorithms can now be optimized by running a million adaptive statistical models until they converge on a perfect equation. June 2019 Machine Learning with Jason Hunter | Strategic Momentum Podcast | Flywheel Associates5
  6. 6. 6#STRATEGICMOMENTUM
  7. 7. Use Cases and Applications Retail & eCommerce Identification and discovery of related customer interests to create location-specific offers. Manufacturing Optimization of business workflows based on employee and internal operations data. Travel & Media Real-time advertising where they can instantaneously determine the ad to show a consumer. Healthcare Identification of risk factors and physician fraud in healthcare industry. June 2019 Machine Learning with Jason Hunter | Strategic Momentum Podcast | Flywheel Associates7
  8. 8. Myths and Misconceptions • Hiring a statistician, academic or data scientist won’t change or solve your data problems. • A data scientist may serve many roles but they cannot turn a non-data driven organization into a data-driven one. A data scientist is only effective when there is an existing arsenal of data to work with. Myths About Data Scientists June 2019 Machine Learning with Jason Hunter | Strategic Momentum Podcast | Flywheel Associates8
  9. 9. 9#STRATEGICMOMENTUM
  10. 10. Myths and Misconceptions • A machine learning tool, without good data, won’t do anything but cost money. • Businesses put too much emphasis on the acquisition of machine learning technologies and tools, and not enough focus on the actual organization of physical data. Myths About Data Tools June 2019 Machine Learning with Jason Hunter | Strategic Momentum Podcast | Flywheel Associates10
  11. 11. Implementation Challenges Business Silos • Many organizations (especially governmental ones) put silos around their data, which makes it difficult to leverage the speed of machine learning. • Companies should work to dismantle silos and foster collaboration. June 2019 Machine Learning with Jason Hunter | Strategic Momentum Podcast | Flywheel Associates11
  12. 12. Implementation Challenges Analysis Paralysis • There are so many data sources available for companies to consider and so much complexity behind data. • Companies need to balance the time thinking about the data and strategizing around the algorithm with the actual execution of it. 12June 2019 Machine Learning with Jason Hunter | Strategic Momentum Podcast | Flywheel Associates
  13. 13. 13#STRATEGICMOMENTUM
  14. 14. Implementation Challenges Code Duplication • Companies will often have similar data models driving analysis and reporting across different functions, ex. Finance & Marketing, without teams knowing. • Look for overlaps, prioritize efforts and make informed decisions on around these machine learning concepts. June 2019 Machine Learning with Jason Hunter | Strategic Momentum Podcast | Flywheel Associates14
  15. 15. How do you solve the implementation challenges? You need a good data strategy. 15
  16. 16. Building the Strategy - Where to Start 16 1 Identify all of the business functions that need machine learning or data science. 2 Determine the high-level data needs of those business functions themselves. 3 Link the need to metrics and look at the relationship between all of those items – you'll immediately see where areas of overlap exist in reporting and data needs. June 2019 Machine Learning with Jason Hunter | Strategic Momentum Podcast | Flywheel Associates
  17. 17. Building the Strategy - Where to Start 17 4 Connect the right data sources and relevant applications once you document these relationships in a systematic and networked fashion. (Bottom-up) 5 Plan which tools you need to enable machine learning. 6 Involve the C-Suite from the very beginning of the process. June 2019 Machine Learning with Jason Hunter | Strategic Momentum Podcast | Flywheel Associates
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  19. 19. Keep in Mind • Data is a corporate asset and as such, you need to use data like money. • Learn to wield the value of your data and do that as fast as possible. With the movement towards automation, the “Googles of the world” who know how to monetize their data will dominate. June 2019 Machine Learning with Jason Hunter | Strategic Momentum Podcast | Flywheel Associates19
  20. 20. Tune in to the STRATEGIC MOMENTUM PODCAST to hear from more guests like Jason! ABOUT JASON HUNTER Jason Hunter is the Director of Advanced Customer Analytics at Hilton and former Data Science business lead for CapTech consulting. For 15+ years, he has been using data to help businesses drive impact. Now, with the advent of machine learning, he sees the world of businesses analysis changing forever as organizations gain the ability to truly look at their data. Connect with Jason: LinkedIn
  21. 21. THANK YOU FLYWHEELASSOCIATES.COM/PODCAST/13
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