HOW MUCH DOES MACHINE LEARNING COST?
If you were to build your own machine learning system from scratch, you would expect to pay millions of dollars to build a specialized data science team. The problem lies in the data itself. To build the system, you have to process millions of lines of raw data so that you can create models and algorithms to identify missed opportunities. It also requires substantial quality control and the ability to identify and correct issues with the algorithms used, at a very basic level. All of this requires a large human capital investment, whether entering data, correcting problems or simply managing the whole process. Employ a couple of dozen computer programmers as well as the critical infrastructure to support them, and you’ll quickly see hundreds of thousands of dollars added to your bottom line each month. Not to mention the massive coffee bill.