Machine learning is a form of artificial intelligence where a computer program learns from the data it is fed or trained with. After learning from this data it internally builds a knowledge base of rules and based on this knowledge base it can later make predictions when it is fed new data. Machine learning is part AI, part data mining, and part statistics, but overall the criterion is to teach a machine to make new decisions based on past data it is trained with. So, for example, if we teach a machine some data regarding the inventory statistics of a store throughout the year then you might be able to tell things such as in which months the items sell more or which items sell more often. Also, it can tell the shop owner if they are selling one particular item more than other items; it can also show this to the customer so as to increase sales.
The concept of making new predictions is very important as we can now make predictions such as in which zone or area a marketing...