What Are the Key Machine Learning Algorithms Used in Entrepreneurship?
Several ML algorithms can be particularly useful for entrepreneurs:
1. Linear Regression: Useful for predicting sales and revenue based on historical data. 2. Decision Trees: Helps in making strategic business decisions by evaluating various outcomes. 3. Clustering Algorithms: Used for market segmentation to identify distinct customer groups. 4. Recommendation Systems: Enhance customer experience by providing personalized product recommendations. 5. Natural Language Processing (NLP): Useful for sentiment analysis and improving customer service through chatbots.