Can My Business Benefit from Machine Learning?

Guide

March 21, 2018

TABLE OF CONTENTS

Increase Revenue Checklist

Use this checklist as a guide to determine if your organization can leverage machine learning to increase your top line. If you can answer yes to any of these questions, you can benefit from using machine learning.

  • Are there manual processes utilized today for personalization with your customers?
  • Do you currently gather open-ended feedback from your customers?
  • Does your product or service include recommendations?
  • Does your product or service require a high number of touch points with your customers?
  • Does your product or service require analyzing large amounts of unstructured data that are difficult for a human to parse in a reasonable amount of time?
  • Does you have repetitive tasks in your process or service?
  • Is your product or service dependent on fast-paced decision making?

Machine learning can help increase your revenue in many areas of your business, but at its core, machine learning benefits organizations by recognizing data patterns, making decisions, and automating mundane tasks.

Decrease Cost Checklist

Use this checklist as a guide to determine if your organization can leverage machine learning to decrease your costs. If you can answer yes to any of these questions, you can benefit from using machine learning.

  • Does your product or service have non-standard forecasting needs?
  • Does inventory planning require full-time employees to manage and predict?
  • Is your product or service subject to bottlenecks?
  • Does your product or service have clearly defined criteria for quality?
  • Is your product or service dependent on hundreds or thousands of devices?
  • Can your product or service benefit from fraud detection?
  • Does your product or service have large ROI for micro-optimizations?

Reducing costs can be achieved via machine learning by optimizing your production, reducing churn via predictive modeling, and allowing your employees to focus their decision making on strategy rather than tactical decisions.

About Levvel

We are an IT, strategy, and design consulting firm that combines the innovative DNA of a startup with the wisdom, scalability, and process rigor of a Fortune 100 company. Learn more about how Levvel can support your DevOps strategy goals by contacting us at hello@levvel.io.

Authored By

Keith LaForce, Managing Director

Keith LaForce

Managing Director

RECOMMENDED CONTENT

The Insurance CIO’s Guide to Leading in the Digital-First Era

Webinar

Video Series: The Cloud Migration Journey

Blog

How is Technology Holding Back the Insurance Industry?

Blog

Meet our Experts

Keith LaForce, Managing Director
Keith LaForce
Managing Director

Keith LaForce is a Managing Director at Levvel responsible for managing processes and people to ensure quality work is delivered to Levvel’s clients. Keith has 15 years of engineering consulting experience that ranges from application development, enterprise architecture, devops, and leadership. Keith has worked in Fortune 10 insurance and financial services organizations setting the standards for architecture, delivery, and implementation processes. In previous roles, Keith specialized in providing digital transformation solutions for clients across a variety of industry verticals. Through Keith’s extensive consulting experience, he is influencing how Levvel delivers consistent engagement models across all our clients to ensure a great client experience.

Related Content

The Insurance CIO’s Guide to Leading in the Digital-First Era

On April 29, you’re invited to join Levvel experts and Rob Galbraith, Bestselling Author at Insurance Nerds, for a webinar on how to best prepare and support a technology approach that meets evolving insured’s expectations.

Webinar

Apr 29

Video Series: The Cloud Migration Journey

In this new video series from Levvel, our industry experts discuss where organizations should start if embarking on their first migration journey, ways to get unstuck, and how to gain buy-in when faced with internal resistance.

Blog

Apr 07

Let's chat.

You're doing big things, and big things come with big challenges. We're here to help.

Read the Guide

By clicking the button below you agree to our Terms of Service and Privacy Policy.

levvel mark white

Let's improve the world together.

levvel-mark-mint

© Levvel 2021