© Tobias Baer 2019
Tobias BaerUnderstand, Manage, and Prevent Algorithmic Biashttps://doi.org/10.1007/978-1-4842-4885-0_20

20. When to Use Machine Learning

Tobias Baer1 
(1)
Kaufbeuren, Germany
 

Just how the invention of computers and the Internet has fundamentally changed our world, machine learning is suddenly enabling analytics to be almost everywhere. Where such rapid change occurs, we humans are of course also prone to exuberance, even hype, and we sometimes need to take a step back and take a deep breath in order to keep things in perspective.

When I took a marketing class at University of Giessen in 1995, the professor used a chart from the 1960s that illustrated the idea of product life cycles with different types of fabric. Cotton was plotted ...

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