Machine learning (ML) refers to the application of algorithms that are capable of learning automatically through analyzing data without being explicitly programmed. ML is a subset of Artificial Intelligence (AI) that learns from historical data, detects patterns and trends, and ultimately makes decisions automatically.
ML has made tremendous advances in recent years because of increases in the large amounts of inexpensive computer power and storage that are available, particularly in the cloud. Advances in technology have allowed ML to thrive through its ability to analyze vast amounts of data in a timely manner.
Key benefits of ML are realized through models that are not explicitly programmed and are able to adapt when given new data. Models are constantly trained from previous results to yield accurate, reliable predictions about the future.
ML is not a brand-new technology but has become a widely accepted technique to better understand and predict data. Companies like Microsoft, Amazon, Google, IBM, Oracle, Salesforce, Adobe, and more are betting heavily on AI and ML to lead businesses into the next generation of analytics and efficiency. The investment in this technology from these companies indicates the value that can be realized as a result of adoption. Although it may seem that only large companies with many resources are the norm for taking advantage of AI/ML, powerful low-cost solutions from Microsoft and other providers are enabling smaller companies to benefit as well.
ML Yields Better Results
Traditionally, most companies base their forecasts on opinion-based employee consensus or attempting to extrapolate actual results from the recent past. These approaches have limited abilities to account for the many factors that impact a business’s performance. They are manually intensive, subject to differences in opinions, and not as reliable or accurate as possible.
Modern-day ML predictive forecasting extends traditional forecasting techniques and addresses many of its weaknesses. A common forecasting example is determining future sales. There have been many traditional techniques over the years that have been developed for this purpose, but when data is fed to different machine learning algorithms and models, the accuracy has been found to increase. With the ongoing research and popularity, the investment in machine learning to forecast data is leading to better results.
Although it may seem that only large companies with many resources are the norm for taking advantage of AI/ML, powerful low-cost solutions from Microsoft and other providers are enabling smaller companies to benefit as well.
deFacto Planning Leads the ML Revolution
At deFacto Global, we understand the value of obtaining more accurate and reliable forecasts quickly and cost effectively. As one of the first companies in the world to join the new Microsoft AI Inner Circle Partner program, deFacto Global has been at the forefront of incorporating AI into business solutions. The elite Microsoft Inner Circle program selects partners for their unique expertise in specific industries and their ability to drive business transformation using the power of AI and data.
deFacto Global’s flagship product, deFacto Planning, is an AI-enhanced corporate planning product that helps business managers and financial officers manage their company’s performance across every functional area.
deFacto Planning seamlessly integrates ML technology into its core architecture, making it completely invisible to users. With a push of a button, business manages can automatically generate reliable forecasts that continually get better as they learn your business.
An Easy On-Ramp to Predictive Forecasting
deFacto Global’s Start Now program is a fast and easy three-step approach to enable your business to begin performing predictive forecasting in a matter of days. All you need to do is:
- Pick the parameters you’d like to forecast
2) Compile the adequate amount of data
3) Validate the accuracy of the predictive models
We’ve taken care of the data science so you can take care of your company’s financial performance.
With deFacto Planning and the Start Now program, your business can be on the winning side of the ML and AI revolution.