Any business examples of using Markov chains?
artificial-intelligence, markov-chains
Solution
There is a class of optimization methods based on Markov Chain Monte Carlo (MCMC) methods. These have been applied to a wide variety of practical problems, for example signal & image processing applications to data segmentation and classification. Speech & image recognition, time series analysis, lots of similar examples come out of computer vision and pattern recognition.
Problem
What business cases are there for using Markov chains? I've seen the sort of play area of a markov chain applied to someone's blog to write a fake post. I'd like some practical examples though? E.g. useful in business or prediction of stock market, or the like... Edit: Thanks to all who gave examples, I upvoted each one as they were all useful. Edit2: I selected the answer with the most detail as the accepted answer. All answers I upvoted.