ML Use Cases for Business – Recommender

Base Use Case

  • Product recommendations on Amazon
  • Movie Recommendations on Netflix
  • Video Recommendations on YouTube
  • Music Recommendations on Pandora

Type – Supervised Learning

Target – A Finite List, Discrete,

Training Data – Historical

Algorithms- Traditional (Regression, Decision Trees), Ensemble, Deep Learning

Challenges

  • Cold Start
  • Real time monitoring
  • Subject awareness of objective

Business Use Cases – Recommend what can be controlled, adjusted to optimize Metric(s)

Banking

  • Rate to optimize Metric(s)

Insurance

  • Premium to optimize Metric(s)

Financial Services

  • Fees to optimize Metric(s)

Healthcare

  • Premium to optimize Metric(s)

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.