NADIR BASMA | Associate Consultant, Capco
MAXIMILLIAN PHIPPS | Associate Consultant, Capco
PAUL HENRY | Associate Consultant, Capco
HELEN WEBB | Associate Consultant, Capco
As the amount of data produced and stored by organizations increases, the need for advanced analytics in order to turn this data into meaningful business insights becomes crucial. One such technique is machine learning, a wide set of tools that builds mathematical models with minimal human decision-making. Although machine learning has the potential to be immensely powerful, it requires well-considered planning and the engagement of key business stakeholders. The type of machine learning used will be determined by the business question the organization is trying to answer, as well as the type and quality of data available. Throughout the development process, ethical considerations and explainability need to be considered by all team members. In this paper, we present some of the challenges of implementing a machine learning project and the best practices to mitigate these challenges.