What Is MLOps and Why Is it Essential
for Your Business Management?
Many of today's businesses are implementing AI and ML to gain an edge over their competitors.That is why the need for MLOps is also on the rise. MLOps or machine learning operations is an extension of the DevOps approach.
MLOps incorporates ML and data science processes into the development and operations chain. It increases the reliability and productivity of ML development. MLOps can help ease the coordination and organization of business activities. Further, it makes it easier to adapt ML models to business needs.
This article discusses MLOps and why it is essential for your business management.
What Is MLOps?
MLOps is a practice of collaboration between data scientists, machine learning engineers, and relevant individuals from an organization. Machine learning engineers can use MLOps platforms to automate the deployment of ML models in large production environments. MLOps also helps machine learning engineers deploy ML models much faster and easier.
The MLOps framework establishes four guidelines for machine learning projects. These guidelines are:
- Collaboration: This ensures teams communicate efficiently.
- Reproducibility: This ensures existing models can be reproduced.
- Continuous: This means ML models must be easy to implement and retrain.
- Monitoring: This ensures ML engineers can track the performance of ML models.
The Main Phases of MLOps
- Data collection: It involves collecting and measuring data from different sources. The collected data is then used to develop practical machine learning solutions.
- Data conversion or preparation: It is the second phase in MLOps after data collection.
It is also known as "data preprocessing". It involves transforming raw data. It allows data scientists and analysts to run ML algorithms. Data preparation leads to the generation of insights and predictions.
- Data analysis: Data analysis is performed after data preprocessing. It is the process of exploring, cleaning, transforming, and modeling data. Data analysis helps to derive reasoning and discover useful information.
- Model training and validation: It is the process by which a trained model is evaluated using a test dataset. The test dataset is another bit of a similar dataset from which the training set was derived.
- Continuous model monitoring and integration: It involves tracking the performance of a machine learning model in a production environment. As machine learning models in production receive new data it needs to be retrained to improve accuracy and prevent overfitting.
Why Is MLOps Essential for Your Business Management?
MLOps is essential for business management because it provides benefits to businesses. Some of the reasons why MLOps are essential for business management are discussed below.
1. It Helps Increase Your Team Productivity
Teams can use MLOps platforms to divide their work into segments. It also allows for automation and distribution of value-added responsibilities within the team. MLOps makes automating procedures easier than ever before. You can use it to automate procedures like training, evaluating, versioning, and deploying ML models. MLOps speed up the team’s operations by reducing the time to deploy models.
2. MLOps Improves Communication in Business
Lack of communication and collaboration can be devastating to the success of the team as a whole and can result in failure. MLOps help create procedures for passing one task on to another department. This then allows the data scientists, machine learning engineers, and business employees to work on their tasks.
It also improves communication by reducing bottlenecks between operations and data science teams. MLOps simplifies complex machine learning models and enhances traditional systems to provide flexible and dynamic solutions. These solutions adapt your business to key performance indicators (KPIs).
3. Improves Business Workflows
Workflows describe the steps in a business work process where work is done from start to finish. A business flow is usually a repeatable process consisting of a series of tasks. These tasks must be completed in a particular order.
Companies can use MLOps to get real-time feedback about the ML model in production. The feedback can be gotten from the MLOps platform that is being used. MLOps platform has a dashboard that displays ML models like accuracy, overfitting, etc. Examples of companies that use MLOps include Dell, Microsoft, Cisco, and Salesforce.
4. Improved Business Decision Making and Better Feedback
The decision-making process is steps taken to determine the most suitable course of action. In the business context, it is a set of steps performed by managers’ actions. MLOps is essential for your business because it reduces bias in decision-making.
For example, for a business to decide on the next product to take to market, data collection first needs to be done. This ensures the unbiasedness of data and avoids underestimating a particular target group while marketing this product. MLOps platforms can also provide ML models to assist businesses with financial decisions.
MLOps also provide businesses with advanced opportunities to improve their feedback mechanism. MLOps platform provides ML models that can notify business partners when new customers and services are available. These ML models can also provide phone answering services through the use of natural language processing.
5. Helps Business Adhere to Regulatory Compliances
One of the basic ways MLOps can help your business is to improve regulatory compliance. As ML becomes more widespread, regulations are becoming more stringent day by day. But, MLOps can help you reproduce a model that conforms to the original standard. This allows systems and models to continue to follow regulatory standards.
6. Helps to Manage Business Lifecycle
Longevity is seen as an important aspect when it comes to business management. The life of a product or service is crucial to business success. Businesses aim to reduce their reliance on manual processes as much as possible. Features such as payroll and bookkeeping can be automated.
Organizations can use machine learning platforms to automate work involving their operations. Companies can hire skilled developers who can use MLOps platforms efficiently. This will help facilitate the use of MLOps in the business lifecycle.
MLOps is here to stay. That is because it provides a better way to leverage machine learning in your business. It has become essential for business management because it improves team productivity and communication.
Further, MLOps also improves business workflows, decision-making, and helps streamline a feedback mechanism. MLOps also helps businesses adhere to regulatory compliances and manage their lifecycle. So it is recommended that businesses adopt MLOps to improve business management.