A genre of cloud computing service, providing machine learning-based services is better known as machine learning as a service(MLAAS). Machine learning is gradually becoming mainstream and choosing not to utilize the untapped potential can bring about utter destruction. Due to the advancements in computer sciences and allied disciplines, machine learning is more available than ever.
As the population remains locked down under the constant pressure of COVID19 commercial sectors are leaning towards e-commerce in order to continue the commercial activities. In-person shopping is gradually becoming history and e-commerce is seemingly gaining higher ground due to the stupendous number of advantages.
Machine learning grants the power of automation and efficient operability. In order to understand exactly how ML is changing the existing commercial apparatus an extensive study of the examples is important. This article will try to summarize maximum knowledge, in order to understand how MLAAS is evolving as a force to be reckoned with in the case of day-to-day e-commerce operations.
Product recommendation & Targeted marketing
MLAAS deals with product recommendations by deploying collaborative and content-based filtering algorithms. It takes into account the choices made by previous customers and the experiences of the buyer with the product.
It has been seen that these kinds of recommendations are essential for guiding the right person to the right buying option most of the time. Additionally, it helps in reducing the confusion of a buyer regarding a product or service.
Dynamics of pricing
Rapid and adaptive changes in prices are extremely common in the case of e-commerce. The adjustments in pricing a product depend on factors like sales and customer satisfaction. MLAAS comes in handy in analyzing the sales and feedback data of a particular product or service. Pricing algorithms can not work without adequate data, trends and marketing strategies play an important role in the pricing process.
Customer support
Customer support is a tedious process if conducted by human efforts. The number of e-commerce customers has increased over the years drastically, and after the lockdowns, it plummeted into something unbelievable. Automation is the only weapon of choice while dealing with a large number of customers with mundane queries. MLAAS thrives on the requirement of entertaining a large number of buyers by placing chatbots in the frontlines. These bots are trained to chat like humans by natural language processing and suggest essential activities to the customers alongside performing any troubleshoot operation it is allowed to perform.
Bottom line
Given the massive implementation of machine learning in multiple aspects of life on earth, it is the most ideal time for looking into the available machine learning courses on the internet. With the right kind of guidance and training, an enthusiast can easily become a professional in the field.
MLAAS is acting like the robin hood in the case of tech innovations. Thanks to the same machine learning has become a means for easing up life for the masses. It is no longer essential to hire a dedicated ML or IT team for ML-driven operations due to the presence of MLAAS.
