Five Practical Steps to Maximise Your Machine Learning ROI

In this article, Michael Baines, Director of Analytics and Data Science at Transform, shares his expertise on how businesses can unlock the true potential of machine learning.

In recent years, artificial intelligence (AI) has firmly established itself as a key driver for businesses striving for a competitive edge, with machine learning (ML) emerging as a particularly transformative force. Whether through the well-established methodologies of predictive analytics or the cutting-edge decision-making capabilities powered by large language models (LLMs), ML offers immense potential for boosting efficiency, fostering innovation and accelerating revenue growth – but only if implemented correctly.

Through our collaborative work with clients at Transform, we’ve observed that many businesses encounter significant hurdles in fully leveraging the capabilities of ML. Common challenges include navigating the complexities of data quality, establishing robust pipeline development processes and simply knowing where to initiate their ML journey.

 

Step 1: Identify the Right Use Cases

 

Before embarking on any specific ML projects, it is crucial to first identify and prioritise the business challenges for which machine learning offers viable solutions. Gaining executive buy-in at an early stage is paramount to ensure that these initiatives are fully aligned with overarching strategic goals.

While the versatility of machine learning means it can potentially address a wide spectrum of problems, businesses will find greater success by focusing their efforts on use cases that are directly tied to key performance indicators (KPIs) and demonstrable value generation. If a proposed ML initiative primarily delivers ‘nice-to-knows’ without clear practical applications, it should be judiciously discarded early in the process to avoid the wasteful allocation of valuable resources.

Organising dedicated workshops can be an extremely effective method for aligning diverse stakeholders, collaboratively mapping out potential use cases, clearly defining success metrics, and initiating the exploration of readily available data sources.

 

Step 2: Identify Relevant Data Quickly

 

Once the target use cases have been clearly defined, the next critical step involves identifying and assessing the data that will be required to train effective ML models. Businesses often either overestimate the ready availability of suitable data or underestimate the fundamental importance of ensuring high data quality. The most effective approach is to identify and thoroughly validate relevant datasets as early in the project lifecycle as possible.

Begin by systematically mapping out internal data sources, which might include databases, records of customer interactions, web logs, email archives and various internal documents. If gaps in the necessary data are identified, consider the potential of utilising external datasets, leveraging relevant APIs or even exploring the creation of synthetic data to bridge these gaps.

Rather than delaying progress in pursuit of a theoretically “perfect” dataset, the focus should be on establishing a minimum viable dataset to facilitate the testing of initial hypotheses. Employing Exploratory Data Analysis (EDA) techniques can provide valuable insights into the data’s usability, reveal any inconsistencies and highlight essential data-cleaning requirements.

Effective cross-functional collaboration between data engineers, data analysts and the relevant business teams is essential at this stage. Discovering early on that the necessary data either doesn’t exist or lacks the required quality can prevent significant investments of time and resources in projects that are ultimately unworkable.

 

Step 3: Start Small, Iterate Quickly

 

It’s important to avoid the temptation of trying to tackle everything at once! Machine learning projects, particularly those involving advanced agentic AI systems, can be inherently complex. Instead, a more pragmatic approach is to begin with a focused, small-scale proof of concept. The primary goal here is to demonstrate tangible value before committing significant resources to broader implementation.

Emphasising rapid experimentation and iterative refinement is key to effectively honing solutions before scaling them. By developing agile ML pipelines, businesses can significantly accelerate their deployment timelines, delivering functional models in weeks rather than months, thereby ensuring greater adaptability to evolving business needs.

This incremental approach not only helps to mitigate risk but also provides a clearer pathway to ensuring that investments in machine learning deliver measurable returns on investment.

 

Step 4: Make Use of Open-Source Tooling and Pre-Built Models

 

Open-source tools can significantly optimise costs. Furthermore, the increasing availability of pre-trained models on platforms such as Hugging Face, TensorFlow Hub or accessible through OpenAI APIs presents a valuable opportunity to save substantial time and resources typically associated with extensive model training. Leveraging open-source solutions often provides greater control over budget management.

For more traditional predictive analytics applications, platforms like Google AutoML, Azure Machine Learning and AWS Sagemaker empower data scientists to build accurate models with minimal manual effort while still achieving more than adequate performance levels.

 

Step 5: Build Automation Into Your Pipelines

 

Integrating automation into machine learning pipelines is a crucial element for achieving efficiency, scalability and unwavering reliability. ML workflows inherently involve multiple stages, encompassing data collection, preprocessing, model training, rigorous evaluation, deployment and continuous monitoring. Attempting to manage these processes manually is inherently time-consuming, prone to errors, and difficult to scale effectively.

Automation streamlines these critical ML pipelines by ensuring the seamless ingestion, transformation, and updating of data. By minimising human intervention, automation reduces inconsistencies and significantly improves the reproducibility of results. Furthermore, automated pipelines facilitate continuous integration and continuous deployment (CI/CD) of ML models, guaranteeing that models remain current with the latest data and evolving business requirements.

Moreover, automation significantly enhances model monitoring and retraining capabilities. ML models are susceptible to performance degradation over time due to factors such as data drift and changing real-world conditions. An intelligently automated pipeline can trigger model retraining protocols when performance dips below acceptable thresholds, thereby ensuring consistent accuracy and reliability. Additionally, automated testing and validation procedures act as critical safeguards against the deployment of biased or underperforming models.

 

Automate Or Fall Behind

 

From a broader business perspective, the implementation of automation directly translates to reduced operational costs and accelerated time-to-market for ML-powered solutions. It liberates data scientists and engineers from repetitive, manual tasks, allowing them to focus their expertise on higher-value innovation. As the adoption of ML continues to grow, organisations that fail to embrace automation risk significant inefficiencies, increased maintenance overhead, and a diminished competitive edge.

In short, automation serves as a fundamental enabler for building scalable, reliable, and high-performing ML systems.

Machine learning undoubtedly has the power to fundamentally transform businesses but achieving success hinges on strategically choosing the right use cases, prioritising high-quality data, adopting agile development methodologies, effectively utilising existing ML resources and, crucially, automating ML pipelines.