Machine Learning and Deep Learning as New Tools for Business Analytics

Abstract

Data scientists need to develop accurate and effective tools and techniques to handle a huge amount of data. Therefore, machine learning and deep learning algorithms have come to the life, especially with the impressive advances in both hardware and software fields. Many impressive existing services are helping us in our daily lives, such as Google Assistant, Uber, Alexa, and Siri, which are based on big data, machine learning, and deep learning. Although intelligent algorithms and big data have been adopted in many modern business intelligence and analytics applications, in this chapter, the authors aim to present the basics of machine learning and deep learning concepts and their utilization in the field of business intelligence. As concrete examples, with the high spread of the COVID-19 pandemic, Tesla and Amazon achieved the biggest revenue ever, where many other companies suffer. These high revenues could be due to the strategic decisions of their leaders, which are based especially on artificial intelligence.