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What is machine learning in plain English for a business owner?
Machine learning is a way of getting software to find patterns in historical data and use them to make predictions or decisions, instead of following hand-written rules. Examples include predicting which customers may leave, estimating demand for a product, or flagging unusual transactions.
A model is trained on past examples where the outcome is known, then applied to new cases. It is not magic and it is not always right; it gives probabilities that need to be checked against reality.
Machine learning needs enough clean, relevant history to learn from. For many small businesses, good reporting and simple statistics deliver most of the value, and machine learning is added later for specific, well-defined problems.
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