ML use case identification exercise
In this exercise, you are going to apply what you have learned in this chapter to your line of business. The goal is to go through a thinking process to business problems that can potentially be solved with machine learning:
- Think about a business operation in your line of business. Create a workflow of the operation and identify any known issues, such as a lack of automation, human errors, and long processing cycles in the workflow.
- List the business impact of these issues in terms of lost revenue, increased cost, poor customer and employee satisfaction, and potential regulatory and compliance risk exposure. Try to quantify the business impact as much as possible.
- Pick one or two problems with the most significant impact if the problems can be solved. Think about ML approaches (supervised machine learning, unsupervised machine learning, or reinforcement machine learning) to solve the problem.
- List the data that could be helpful...
