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How much data does my company need to obtain good results?

The amount of training data varies dramatically from application to application. There might be successful Machine Learning solutions that only need 100 examples. However, for many use cases, we need tens of thousands of examples to find the expected results.

Generally, there is an adjustment between the amount of training data your company has, the number of errors in your application that you are willing to tolerate, and the difficulty of the problem you are trying to solve. If you have an easy problem and you are willing to tolerate a certain amount of error (e.g., you only need a correct prediction three out of four times), then you will not need large data. Nevertheless, harder problems and problems that require high accuracy (e.g., medical diagnoses) require more data.

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