In an increasingly data-driven world, we are finding more and more instances of Machine Learning use across industries and use cases. IT practitioners are leveraging algorithms to build self-learning predictive models for various use cases like fraud detection and online customer behavior.
Banks, financial companies, large retailers, telecommunications providers, and Internet Search Engines, among others, are using Data Mining to discover patterns in the data. They use Data Mining in various applications like price optimization, e-commerce promotions, and social media to explore operations and customer relationships.
These technologies are becoming more relevant every day, and we cannot imagine any data-driven business that does not use these technologies to extract value. So if you are planning to stay ahead in your chosen career or eyeing that sought-after promotion in your company, you must opt to upskill. Register for the AI And Machine Learning course in Houston, and learn all you need about Machine Learning and its applications. Get certified and build your career in the AI domain.
What is Machine Learning?
Machine Learning (ML) is a branch of artificial intelligence that uses data and algorithms to emulate the way humans learn and improve its accuracy along the way. While AI imitates human perceptions, ML trains a machine how to learn. It enables software applications to predict outcomes without being explicitly programmed. ML algorithms input historical data and predict new output values, learning iteratively from their experience on the go.
Machine Learning automates analytical model building. Its roots are in pattern recognition and the computer science theory that machines can learn without being programmed to perform specific tasks. Instead, machines train to learn from data, identify patterns, independently adapt, and make decisions with minimal human engagement. The more the exposure of ML models to new data, the more they learn from historical computations to produce insights and make decisions.
It uses statistical methods to train algorithms to make classifications and predictions within Data Mining projects. These predictions drive decision-making and impact businesses with varying applications.
How does Machine Learning Work?
The ML algorithm has three parts:
The decision-making process is where ML algorithms make a prediction based on classification. They use input data to drive algorithms and predict the pattern in the data.
The error function stage is where the prediction capabilities of the model are evaluated. From previously known examples, the error function assesses the accuracy of model performance.
In the model optimization process, weights adjust to fit the model better to the data points in the training set and cut down the discrepancy between known and model estimates. The ‘evaluate and optimize’ process repeats, with weights updating autonomously till a level of accuracy is met.
What is Data Mining?
Data Mining is the process of sifting through large data sets and the repetitive noise in the data to identify patterns and valuable information. It helps predict outcomes and make informed decisions. Also known as knowledge discovery in data (KDD), Data Mining reveals patterns, anomalies, and correlations within large data sets. It combines Statistical techniques, AI, and ML for business outcomes like higher revenues, resource optimization, improved customer relationships, and risk management. It considers relationships in the data and simulates machine intelligence and algorithms for making predictions.
Data mining has improved organizational decision-making through insightful data analyses. They use ML algorithms to organize and filter the data and extract useful information, from fraud detection to user behaviors and even security breaches.
How does Data Mining Work?
Data Mining involves data collection, visualization, and extraction of information. It uses techniques to describe and classify data based on associations and correlations and identify outliers for various use cases.
Data Mining involves four steps:
The first step is defining business objectives that pose a problem.
Once the scope of the problem is identified, relevant data is gathered and prepared. The data is then cleaned, any noise removed, duplicate and missing values sorted, and outliers identified. Where there are too many features, only the key predictors are considered to maintain accuracy and processing speed.
Data Mining algorithms are applied for model building and pattern mining to discover data relationships, sequential patterns, correlations, and deviations.
After data aggregation, the results are evaluated and interpreted to meet the required criteria.
Machine Learning vs. Data Mining
We have explored Machine Learning and Data Mining. While there are many differences between the two concepts, there are also some similarities between the two:
- Both ML and Data Mining are analytical processes.
- Both deal with the process of pattern recognition.
- Both learn from the data for better decision-making.
- Both require vast data sets to learn, predict and be accurate.
ML and Data Mining overlap where Data Mining techniques are used to build models and discover patterns. At the same time, Data Mining leverages ML techniques for higher accuracy in analysis.
ML and Data Mining are ultimately about learning from data and making better decisions, although the processes involved are different.
These are some differences between ML and Data Mining:
- ML is a subset of AI and thus strives to be more intuitive and predictive. Data Mining is a subset of business analytics and explores existing datasets to discover previously unknown patterns, relationships, and anomalies.
- As a type of AI technology, ML teaches computer systems to be more like humans, decoding heterogeneous data and learning from experiences.
- Data Mining understands the data flow. But in ML, besides teaching the machines, it iteratively learns from the data flow.
- ML uses existing data and algorithms to build predictive models, and Data Mining mines large databases that also contain unstructured unrefined data.
- Data Mining looks for patterns in the data, but ML goes beyond it to learn from historical data to predict future outcomes.
- ML leverages algorithms from historical data, whereas Data Mining extracts valuable information from massive data warehouses.
- In Data Mining the relationship rules and patterns are unknown. But in ML the machine is already pre-assigned rules or variables to understand and learn from the given data.
- Data Mining calls for human intervention and decision-making and is thus more of a manual process. But with ML, once the rules are defined, extracting information, ‘learning’ from the data, and refining predictions are automated with no human intervention required after the design. ML techniques focus on making the machine more intelligent on its own.
- Data Mining acts on an existing dataset to uncover patterns. ML is trained on a ‘training’ data set and teaches the machine how to make sense of the data and make predictions with new data sets.
- Thus, ML focuses on self-learning and constant improvement. But Data Mining is more research-based and uses methods like ML to do its tasks.
- However, the application scenarios for ML are unlimited. It is used in Web Searches, building spam filters, fraud detection, and computer designs. Data Mining, on the other hand, has limited applications, such as cluster analysis.
ML algorithms are used in decision trees, neural networks, and other advanced areas of AI. At the same time, ML models can be built using Data Mining techniques.
With businesses looking to make sense of historical data and become more predictive, overlaps often occur between ML and Data Mining. For instance, many use cases seek to improve their Data Mining analytics with ML algorithms.
Kwami Fortune Launches Pitch Buzz: Empowering Young Creatives
In the ever-evolving world of media and entertainment, young and independent creatives often find themselves navigating a labyrinthine landscape, struggling to break through the noise and gain the recognition they deserve. However, there’s a new beacon of hope on the horizon – “Pitch Buzz,” a media platform and support network founded by the dynamic Kwami Fortune. Pitch Buzz, under the visionary leadership of Kwami Fortune, is on a mission to empower emerging talents by offering them a unique blend of publicity, music publishing, and marketing services.
A Visionary in the Spotlight: Meet Kwami Fortune
At the helm of Pitch Buzz is Kwami Fortune, a seasoned PR professional with a passion for nurturing talent and a knack for making waves in the media industry. With years of experience under his belt, Fortune has witnessed firsthand the challenges faced by budding artists and creatives in getting their work recognized. This drove him to create Pitch Buzz, a platform that would serve as a launchpad for their careers.
Unveiling the Pitch Buzz Experience
Publicity: One of Pitch Buzz’s core offerings is its expertly crafted publicity services. They understand that getting noticed in the vast sea of content is no easy feat. Pitch Buzz leverages its extensive network of media contacts and PR expertise to ensure that young creatives get the attention they deserve. Whether it’s a musician looking to drop their debut single or a filmmaker with a groundbreaking project, Pitch Buzz is there to make sure their stories are heard.
Music Publishing: Recognizing the importance of intellectual property in the music industry, Pitch Buzz provides comprehensive music publishing services. They assist artists in protecting their creative rights, ensuring fair compensation, and facilitating the distribution of their music to a global audience. This empowers artists to focus on what they do best – creating music – while Pitch Buzz handles the complex business side of things.
Marketing Magic: Pitch Buzz doesn’t stop at just publicity and music publishing; they go the extra mile with top-tier marketing strategies. Utilizing the latest digital marketing techniques, social media campaigns, and branding expertise, they help emerging talents build a strong online presence. This not only boosts their visibility but also fosters a loyal fan base.
The Collaborative Approach
What sets Pitch Buzz apart is its commitment to collaboration. Kwami Fortune and his team understand that no creative journey is the same. Therefore, they work closely with each client, tailoring their services to suit individual needs and aspirations. It’s not just about delivering services; it’s about fostering a sense of community and support that goes beyond the traditional client-provider relationship.
Changing the Game
Pitch Buzz isn’t just another media platform; it’s a movement that is redefining how young and independent creatives break into the media space. Kwami Fortune’s brainchild is leveling the playing field, ensuring that talent, dedication, and passion are the true markers of success.
As Pitch Buzz continues to gain momentum, it is clear that Kwami Fortune’s vision is resonating with the creative community. With its holistic approach to publicity, music publishing, and marketing, Pitch Buzz is poised to become the go-to destination for emerging talents seeking the recognition and support they deserve.
In the world of media and entertainment, where opportunities are abundant but often elusive, Pitch Buzz is the guiding star that leads young and independent creatives towards their well-deserved spot in the limelight. Kwami Fortune and his team are on a mission to turn dreams into reality, one pitch at a time.
Short film “Perceptions” by Alphonse Menyo to be released Worldwide October 11th on YouTube
The official release of Alphonse’s Menyo internationally recognised short film “Perceptions”, will be available to watch on Youtube on the 11th of October 2023 at 9am GMT.
This is a project where we see Alphonse Menyo wearing different hats; producer, writer, director, and starring as one of the main characters of this short film playing “Adotey” – a boxer and a fisherman from Jamestown with his display of an array of emotions: intense, irritable, happy, jovial. With his direction, the female lead, played by Tatiana Martinez, is believable and relatable.
Martinez makes her debut in this production and she fulfils the character of Melissa Ramos well,
showcasing the antagonist of Ramos despite her affluence. Perceptions sheds light onto two parallel lives of two characters from complete different worlds.
One of them is Melissa Ramos, a young Spanish lady who works with a multinational oil company in the West African country of Ghana, gets all the money she’s ever wanted but still feels unfulfilled. She later meets Adotey, a local fisherman and boxer, and realizes that in order to achieve true happiness in life, she needed to take certain actions.
The short film has gained recognition at various international movie festivals; AFRIFF (Africa International Film Festival), Abuja International Film Festival, Serenity Screening in the UK, the Accra Indie Festival, Real Time International Film Festival and the Ghana Movie Awards.
So far it has been really well received by international audiences who got to witness the story at the various movie festivals. We get to see through the reviews that Alphonse Menyo achieves to transmit the exact message he wanted to transmit to the world: “The dialogue is easy to follow whilst realistic of each character. Scenes are succinct and
informative whist remaining interesting. Off course the main character is the backdrop of Africa, specifically Ghana which is displayed in the beautiful cinematography of wide shots, close ups and bird’s eye views of the coast, businesses and local market”
“Watching perceptions has enriched me just as a good movie should do. Its shows that simplicity brings happiness and joy and that we should always be ready to leave behind what doesn’t make us happy. I truly enjoyed the artwork as the scenes, the soundtrack & the characters make the whole context vibrant and dynamic”.
Follow this link to watch Perceptions short film on 11th October 9am GMT: https://youtu.be/rCB6B3jtJIU
Ghana set the pace again as Ghana Badminton raises Africa’s flag at the World Championships, USA.
In the fantastic city of Spokane, Washington, where the 2023 BWF World Junior Badminton Championship is taking place, Ghana made history and a name for the country, with the teenagers fighting as if their very existence depended on not giving up the events.
The World Championships also serves as an Olympic qualifier for the Paris 2024 global event. Before this, the Ghana Badminton team participated in South Africa, Nigeria events and a National Open last summer.
A 16-man contingent of players and officials led by Ghana’s Badminton President, Yeboah Evans, is all the motivation the players need to self-motivate themselves, chalking the historic most significant achievement in the Mixed team event by any African country in 23 years of the World Championships.
Over 54 countries are in the United States fighting for honours, with Ghana presenting a few players for the tournament but registering gains that can only inspire a more significant achievement sooner than later.
The young players, with some of them travelling outside the country for the first time, are impressing even officials of their opponents, drawing commendations for having a great future ahead towards the 2023 African Games, 2024 Paris Olympics, 2026 Youth Olympics, and other international open and invitational events.
Ghana became the first African Country to have reached the finals of its Mix Team Group, having lost to Norway in the final stage. Ghanaian Players Andy Amofa and Elvis Osei won the Mixed Team Event’s 4th and 5th best players, whilst Moslena Adu placed 10th in the overall player rankings.
Ghana had to settle for second place in the group match, which nonetheless marked a historic achievement. Amofa committed a rare service error but quickly recovered, delivering a cross-court smash to regain the lead at 11-09. In a crucial moment, Amofa surprised the Norway Aldrin NELSON by returning a shuttle that appeared to be heading wide, but the Norway player managed to keep it close to the net. Amofa returned the shuttle and secured the point with a well-executed backflip to the other side of the court, taking an 11-09 lead. Despite Nelson saving two match points, he failed to return a body smash by Amofa near the net. With a final score of 3-0, Ghana lost the last game and handed Norway a winning match, concluding the Ghanaian players one of their career’s most riveting badminton games.
Ghana performed far better than the earlier 2017 World Championships in Yogyakarta, Indonesia and pole position for the 2024 France Olympics Qualification ranking with four other international matches until the deadline of April 28, 2028,
DFMI Business Lab announces filmmaking-participants from across Africa
After receiving a record number of applications for the third edition of the DFMI Business Lab, the Durban FilmMart Institute is pleased to announce 35 participants from 22 countries across the continent.
The selected participants will undergo a 12-week online business development programme aimed at nurturing and empowering producers with the necessary skills to effectively engage in a global market.
“The Lab is now in its third year. We would like to thank DW Akademie for their continued investment into capacity-building on the African continent,” says Magdalene Reddy, director of DFMI. “In addition to providing filmmakers with the expertise to expand their film career, the lab has created a sense of community between the producers inviting them into a peer-to-peer support system where they are free to share opportunities and learnings as they engage in the film industry.”
The Lab will focus on modules such as Financial management, Business management, Intellectual Property and Entertainment Law, Distribution, and coproduction led by film and creative industry professionals from Burkina Faso, Canada, France, Kenya, South Africa, and the USA.
DFMI Business Lab participants:
Abdifatah Abdi (Somalia)
Boi Beatrice Kenneh (Sierra Leone)
Boris Fredy Agblo (Benin)
Chelsea Art (South Africa)
Doreen R. Kilimbe (Tanzania)
Duwayne Murphy (South Africa)
Emil Garuba (Nigeria)
Faith Riyano (Zimbabwe)
Faye Binetou (Senegal)
François Maree (South Africa)
Ghislaine Kanga (Ivory Coast)
Gopalen Parthiben Chellapermal (Mauritius)
Habtamu Mekonen (Ethiopia)
Ian Tarimo (Tanzania)
Ibtissem Labidi (Tunisia)
Khangelani Mtyhalela (South Africa)
Khanyisile Zondi (South Africa)
Lauren Scholtz (South Africa)
Limbani Maxwell Teputepu (Malawi)
Madelize De Lange (South Africa)
Manar El-Zohery (Egypt)
Muhammad Taymour (Egypt)
Muhannad Lamin (Libya)
Naseeba Bagalaaliwo (Uganda)
Ndumiso Gumede (South Africa)
Nduruka Njoroge (Kenya)
Omoyefe Majoroh (Nigeria)
Oueslati Ager (Algeria)
Oularé Momo (Guinea)
Paul Wilo (Zambia)
Pingdewinde Tiemtore (Burkina Faso)
Rugare Ponde (Zimbabwe)
Sally Ngoiri (Kenya)
Timilehin Adewoye (Nigeria)
Zineb Chafchaouni Moussaoui (Morocco)
The programme is presented in partnership with DW Akademie and supported by the German Federal Ministry for Economic Cooperation and Development. The online programme will commence in October 2023.
The Durban FilmMart Institute receives principal funding from the Durban Film Office and the eThekwini Municipality.
Prof. Douglas Boateng-chaired institutions shine at CEO Awards and CIMG Awards
Two institutions under the leadership of Professor Douglas Boateng, the Minerals Income Investment Fund (MIIF) and Labadi Beach Hotel, celebrated significant wins at the second edition of the Ghana CEO Vision & Awards ceremony, CIMG Awards and HR Focus Awards 2023.
Edward Nana Yaw Koranteng, CEO of MIIF, proudly received the prestigious ‘CEO of the Year’ award in the Minerals category, while David Attu Eduaful, the Managing Director of Labadi Beach Hotel, was honoured with the ‘Excellence in Leadership’ accolade at the Ghana CEO Vision & Awards for skillfully navigating the hospitality giant beyond the challenges of the pandemic.
Labadi Beach Hotel had earlier won the Best HR Management in Hospitality at the HR Focus Awards 2023 and also recently won the CIMG Hospitality Facility of the Year.
Prof. Boateng, speaking about the awards, stressed the importance of good corporate governance. He believed that winning these awards was proof that following ethical and responsible business practices could lead to remarkable success. “These awards are a testament to the power of proper corporate governance and the remarkable outcomes it can achieve,” he said.
Prof. Boateng added that when he was given the mandate the Minister of Finance, Ken Ofori-Atta and President Nana Addo Dankwa Akufo-Addo reminded him that MIIF, especially, was a Ghana and a generational project and not a political party project. To this end, he explained that, there was going to be minimal interference and they have lived up to their promise.
“It is for this reason why we have managed to create the fastest growing sectorial sovereign fund within record time. I am proud of the work we have done so far and I extend a hearty congratulations to the executive management and the other board members of the fund. We shall continue to do what is in the best interest of Ghana and Ghanaians,” he said.
He also went further to laud Social Security and National Insurance Trust (SSNIT) and its Director General, Dr. John Ofori Tenkorang and board chair, Elizabeth Ohene, for empowering the board of Labadi Beach Hotel to function with minimal interference. “This is how institutions are best run. When they are allowed to function properly with good boards and corporate governance principles, they flourish,” he said.
MIIF was established as Ghana’s minerals sovereign fund, with the aim of strategically leveraging the mining sector’s value creation potential for sustainable national development.
Under the tutelage of Prof. Boateng as Chairman and Mr. Koranteng as CEO, MIIF has defied global economic challenges, experiencing rapid growth in just 18 months. Starting at approximately US$125 million in October 2021, when they were appointed, MIIF’s Assets Under Management (AUM) are projected to surpass US$1 billion by January 2024, making it one of the world’s fastest-growing specialized funds during this period.
Prof. Boateng re-emphasized Ghana’s historical significance in West African mining, with the country currently being the leading gold producer on the continent. However, the mining industry had not fully realized its potential to deliver long-term prosperity and opportunities until now.
He was optimistic about the future as MIIF recently announced a US$32.9 million capital investment in Ghana’s first-ever lithium mine, Atlantic Lithium, signalling its commitment to the mining sector’s growth and diversification.
Additionally, MIIF is considering a GH¢300 million investment in the Ada-Songor Salt project operated by Electrochem Ghana Limited, a subsidiary of the McDan Group of Companies, with the potential to become the continent’s largest salt industrial complex.
Labadi Beach Hotel’s resilience and success
Under the guidance of Professor Boateng, Labadi Beach Hotel has continued to thrive despite economic challenges. Earlier this year, the hotel, a key player in the hospitality industry, presented a GH¢10 million dividend to its sole shareholder, the Social Security and National Insurance Trust (SSNIT), for the year 2021. It is projected that the hotel shall declare another dividend to the shareholder.
This remarkable achievement followed the unprecedented challenges faced during the COVID-19 pandemic in 2020 and served as another reason to celebrate Labadi Beach Hotel’s 42-year legacy of providing top-quality services to guests and contributing significantly to Ghana’s tourism sector.
The hotel’s growth is evident, having expanded from its original 104 rooms to now offering 164 rooms, including 2 Presidential Suites, 4 Executive Suites, 4 Superior Suites, 5 Bars, 2 restaurants, and a 900-seater multi-purpose conference and banqueting facilities. The facility also boasts a spa, well-equipped gym, lagoon for fishing, and two luxurious leisure and lap pools set in a tropical landscaped garden overlooking the natural Maale Lagoon.
Prof. Boateng highlighted the significance of Mr. Eduaful’s role as the first indigenous General Manager for the hotel, emphasising, “This demonstrates the potential for success in companies led by Ghanaians and sets an example for other institutions to achieve similar heights.”
Professor Douglas Boateng
Professor Douglas Boateng, Africa’s pioneering Professor Extraordinaire for supply and value chain management at SBL UNISA, is a globally acclaimed expert in procurement, governance, logistics, and industrial engineering within the context of supply and value chain management. Holding numerous qualifications, including a Doctor of Engineering from Warwick and various fellowships from prestigious institutions in the UK and South Africa, he has made remarkable contributions to both academia and the industrial advancement of supply chain management on local and international fronts.
Notably, he received the Platinum Life Time Global Achievers Award in 2016 and a Life Time Achievers Award in 2013 from the Chartered Institute of Procurement and Supply. Professor Boateng’s expertise in industrial engineering, procurement, and supply chain management in developing countries earned him a Life Time Achievers Award from CEO Titans Building Nations in 2016. He is widely recognized for his pivotal role in promoting strategic sourcing’s significance in Africa’s long-term industrialization and socio-economic development.
Furthermore, Professor Boateng has been an elected member of the UK’s Institute of Directors for over two decades, lending his expertise in board-level decision-making, accountability, and governance to both local and international organizations and CEOs.