Business case definition

The first step towards a successful project is to define the business problem.

Understand the domain, set clear goals and evaluation criteria for your project. Determine all the possible aspects that the project can provide.

Ask these questions:

  • What is the current process related to the business case?
  • Would machine learning specifically help with this issue? If so, how?
  • Will the project contribute to these objectives?
    • Save Time: time that could be re-invested into other initiatives.
    • Save Money: improving accuracy and efficiency across industries. For example, a predictive maintenance use case can save money from customer attrition rates and human effort for maintenance. Additionally, a recommendation engine use case can increase brand loyalty and customer engagement.

      Improving Customer Experience: demonstrating customer commitment can result in customers being more likely to choose you over competitors. Additionally, customers are more loyal when their experience is tailored to their individual needs. Machine learning can make this kind of customer experience available without radically increased human costs.