Achieving efficiency
Focusing on data-generating processes within a business is a strategic approach in developing machine learning initiatives. This focus is particularly significant because it aligns the initiatives with existing business operations and leverages readily available data sources. By utilizing data that is already being produced through normal business activities, companies can reduce the costs associated with data collection, preparation, and processing, which are integral parts of machine learning projects.
Given this context, why does a focus on data-generating processes lead to lower-cost machine learning initiatives?
This exercise is part of the course
Monetizing Artificial Intelligence
Hands-on interactive exercise
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