The machine learning solution for business assessment

Reference no: EM133640192 , Length: word count:1800

Artificial Intelligence and Machine Learning in IT

Assessment - The Machine Learning Solution for Business

Task
Your third assessment requires you to read the supplied business case and understand the problem of the business so that you, as the subject matter expert in Machine Learning will write a Proposal to highlight how your solution is suitable for supporting the business in several areas.

Assessment Description

Proposal is a formal written offer from a seller to a prospective sponsor. In this assessment, it is a solution proposal that you will write to advocate your ML solution and to convince the Board of the business that your solution is the best. Apart from understanding the business requirements in the business case, you will also need to conduct research on AI/ML including their benefits to the industry where the business is in, how AI/ML is going to support the specified areas highlighted in the business case. You need to have a good understanding of ML algorithms and applications used in modelling e.g., prediction.

Learning outcome 1: Explain artificial intelligence algorithms in information technology
Learning outcome 2: Analyse machine learning and common algorithms
Learning outcome 3: Explore supervised and unsupervised machine learning algorithms

Business Case
YourSuperStore is a market leader in grocery retail. It has over 2000 stores nationwide covering most of the major cities. It is becoming more and more important to fulfill people's daily grocery needs. Due to the significant growth of the business. The old Loyalty Program that has over 3 million members, is no longer suitable to support the business. The board has decided to implement a new Loyalty Program (hint: it is like "Everyday Rewards" in Woolworths) to advance the business in various areas:

Customer retention
Marketing communications
Real-time offers
Personalised rewards and pricing
Predictive analytics (cross-selling and up-selling)
Fraud detection

AI and Machine Learning are rapidly transforming many industries including grocery retail. YourSuperStore's competitors have quickly made the move to invest in trending AI technologies. To retain its market-leading position, the business would like to incorporate machine learning into the new Loyalty Program.

The CEO has appointed you as the subject matter expert in Machine learning knowing the algorithms and applications to conduct research to work with the project team for the Loyalty Program.

Proposal

Before project funding can be approved, you are required to write a solution proposal to outline:

Executive summary
Objectives
Business problems
Benefits of AI/ML
ML solution for the Program: (use ML algorithms, applications for data manipulation and modelling to justify how your solution will support the following business areas respectively):
Customer retention
Marketing communications
Real-time offers
Personalised rewards and pricing
Predictive analytics (cross-selling and up-selling)
Fraud detection
Challenges
Potential ethical, privacy and security issues
Recommendations

Referencing

Add your references (at least 5) on the last page using any professional and consistent styling.

Reference no: EM133640192

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