Category Archives: Machine Learning

Stock Price Prediction using Machine Learning Techniques

Stock movement machine learning techniques

In the past few decades, many advances have been made in the field of data analytics. Researchers are now able to predict stock prices with higher accuracy due to analytical predictive models. These predictive techniques utilize data from previous stock price movements and look for patterns that could indicate future stock price changes in the market. The use of these machine learning techniques will allow investors to make better decisions and invest more wisely by maximizing their returns and minimizing their losses. In this blog post, you will learn about some of the popular machine learning techniques in relation to making stock price movement (direction of stock price) predictions and …

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Posted in Data Science, Machine Learning. Tagged with , .

Difference between Parametric vs Non-Parametric Models

Machine learning models can be parametric or non-parametric. Parametric models are those that require the specification of some parameters before they can be used to make predictions, while non-parametric models do not rely on any specific parameter settings and therefore often produce more accurate results. This blog post discusses parametric vs non-parametric machine learning models with examples along with the key differences. What are parametric and non-parametric models? Training machine learning models is about finding a function approximation built using input or predictor variables, and whose output represents the response variable. The reason why it is called function approximation is because there is always an error in relation to the …

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Machine Learning: Inference & Prediction Difference

machine learning modeling methods vs prediction and inference

In machine learning, prediction and inference are two different concepts. Prediction is the process of using a model to make a prediction about something that is yet to happen. The inference is the process of evaluating the relationship between the predictor and response variables. In this blog post, you will learn about the differences between prediction and inference with the help of examples. Before getting into the details related to inference & prediction, let’s quickly recall the machine learning basic concepts. What is machine learning and how is it related with inference & prediction? Machine learning is about learning an approximate function that can be used to predict the value …

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Overfitting & Underfitting Concepts & Interview Questions

Overfitting and underfitting represented using Model error vs complexity plot

Machine learning models are built to learn from training and test data and make predictions on new, unseen data set. The machine learning model is said to overfit the data when it learns patterns that exist only in the training set make prediction with high accuracy. On the other hand, machine learning model underfits if it cannot find any pattern or relationship between variables in both training and testing data sets. In this post, you will learn about some of the key concepts of overfitting and underfitting in relation to machine learning models. In addition, you will also get a chance to test you understanding by attempting the quiz. The …

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Data Science / AI Team Structure – Roles & Responsibilities

Data Science Team Roles & Responsibilities

Setting up a successful artificial intelligence (AI) / data science or advanced analytics practice or center of excellence (CoE) is key to success of AI in your organization. In order to setup a successful data science COE, setting up a well-organized data science team with clearly defined roles & responsibilities is the key. Are you planning to set up the AI or data science team in your organization, and hence, looking for some ideas around data science team structure and related roles and responsibilities? In this post, you will learn about some of the following aspects related to the building data science/machine learning team. Focus areas Roles & responsibilities Data Science Team – Focus …

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Sentiment Analysis & Machine Learning Techniques

sentiment analysis machine learning

Artificial intelligence (AI) / Machine learning (ML) techniques are getting more and more popular. Many people use machine learning to analyze the sentiment of tweets, for example, to make predictions related to different business areas. In this blog post, you will learn about different machine learning / deep learning and NLP techniques which can be used for sentiment analysis. What is sentiment analysis? Sentiment analysis is about predicting the sentiment of a piece of text and then using this information to understand users’ (such as customers) opinions. . The principal objective of sentiment analysis is to classify the polarity of textual data, whether it is positive, negative, or neutral. Whether …

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Clinical Trials & Predictive Analytics Use Cases

clinical trials predictive analytics machine learning use cases

Analytics plays a big role in modeling clinical trials and predictive analytics is one such technique that has been embraced by clinical researchers. Machine learning algorithms can be applied at various stages in the drug discovery process – from early compound selection to clinical trial simulation. Data scientists have been applying machine learning algorithms to clinical trial data in order to identify predictive patterns and correlations between clinical outcomes, patient demographics, drug response phenotypes, medical history, and genetic information. Predictive analytics has the potential to enhance clinical research by helping accelerate clinical trials through predictive modeling of clinical outcome probability for better treatment decisions with reduced clinical trial costs. In …

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Posted in Data Science, Healthcare, Machine Learning, Pharma. Tagged with , , .

Pricing Optimization & Machine Learning Techniques

pricing optimization and machine learning use cases

Pricing is a critical component of price optimization. In this blog post, we will dive into pricing optimization techniques and machine learning use cases. Price optimization techniques are used to optimize pricing for products or services based on customer response. AI / Machine learning can be leveraged in pricing optimization by using predictive analytics to predict consumer demand patterns and identify optimal prices for a products or services at a given time in the future. What is pricing optimization? Pricing optimization is the process of pricing goods and services to maximize profits by taking into account various pricing factors. These pricing factors can include but are not limited to, competitor …

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Binomial Distribution Explained with Examples

binomial experiment coin tossing 100 experiments 50 trials

The binomial distribution is a probability distribution that applies to binomial experiments. It’s the number of successes in a specific number of tries. The binomial distribution may be imagined as the probability distribution of a number of heads that appear on a coin flip in a specific experiment comprising of a fixed number of coin flips. In this blog post, we will learn binomial distribution with the help of examples. If you are an aspiring data scientist looking forward to learning/understand the binomial distribution in a better manner, this post might be very helpful. What is a Binomial Distribution? The binomial distribution is a discrete probability distribution that represents the probabilities of binomial random …

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Procure-to-pay Processes & Machine Learning

procure to pay machine learning use cases

The procure-to-pay (P2P) cycle or process consists of a set of steps that must be taken in order for an organization to procure and pay for goods and services. Procurement is the process by which organizations purchase goods, supplies, equipment, or services from outside sources. The procurement function may also serve as an intermediary between two internal departments or divisions that have overlapping needs. In this blog post, we will discuss how AI / machine learning can be leveraged to automate certain procure-to-pay processes such that procure-to-pay teams can focus on core business goals. What is the procure-to-pay cycle or process? The procure-to-pay (P2P) cycle or process is defined as …

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Python – Replace Missing Values with Mean, Median & Mode

Boxplot for deciding whether to use mean, mode or median for imputation

Missing values are common in dealing with real-world problems when the data is aggregated over long time stretches from disparate sources, and reliable machine learning modeling demands for careful handling of missing data. One strategy is imputing the missing values, and a wide variety of algorithms exist spanning simple interpolation (mean. median, mode), matrix factorization methods like SVD, statistical models like Kalman filters, and deep learning methods. Missing value imputation or replacing techniques help machine learning models learn from incomplete data. There are three main missing value imputation techniques – mean, median and mode. Mean is the average of all values in a set, median is the middle number in …

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Building Machine Learning Models & Dev Challenges

machine learning models development and deployment challenges

The machine learning models and AI implementation industry is booming. The demand for machine learning models has never been higher, but the challenges of machine learning development and deployment have also increased. In this post, we will discuss a few common machine learning development and deployment challenges. In future blogs, we will learn about solutions to overcome these challenges. This blog post will help you learn and understand some of the key challenges that you may face if you are planning to start machine learning practice in your organization. These challenges are also very much relevant if you have machine learning engineers and data scientists working across different offices/locations on …

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Bagging Classifier Python Code Example

Bagging Classifier explained with Python code examples

Bagging is a type of ensemble machine learning approach that combines the outputs from many learner to improve performance. These algorithms function by breaking down the training set into subsets and running them through various machine-learning models, after which combining their predictions when they return together to generate an overall prediction for each instance in the original data. In this blog post, you will learn about the concept of Bagging along with Bagging Classifier Python code example.  Bagging is commonly used in machine learning for classification problems, particularly when using decision trees or artificial neural networks as part of a boosting ensemble. It has been applied to various machine-learning algorithms including decision stumps, …

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Demand Forecasting & Machine Learning Techniques

demand forecasting machine learning use cases

Machine learning is a technology that can be used for demand forecasting in order to make demand forecasts more accurate and reliable. In demand forecasting, machine learning techniques are used to forecast demand for a product or service. There are different types of machine learning/deep learning techniques used in demand forecastings such as neural networks, support vector machines, time series forecasting, and regression analysis. This blog post will introduce different machine learning & deep learning techniques for demand forecasting and give an overview of how they work. What is the demand forecasting process? The demand forecasting process is defined as the creation of demand forecasts, demand planning, and demand decision …

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Agriculture Use Cases & Machine Learning Applications

machine learning applications for agriculture use cases

Today agriculture is in a state of flux. Farmers are faced with the challenges of producing more food in face of a changing climate and population growth, while also adapting to evolving technologies that have changed agriculture forever. Machine learning has been applied to agriculture for many different use cases, from irrigation scheduling to pest management. In this post, we will explore agriculture use cases for machine learning & deep learning that can help farmers meet these challenges head-on. Different machine learning applications can be built around these agricultural use cases. It will be helpful for data scientists to get a high level idea around use cases and related machine …

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Credit Card Fraud Detection & Machine Learning

credit card fraud detection machine learning

Credit card fraud detection is a major concern for credit card companies. With credit cards so prevalent in our society, credit card companies must be able to prevent credit card fraud and protect their customers. Machine learning techniques can provide a powerful and effective way of detecting credit card fraud. In this blog post we will discuss machine learning techniques that data scientists can use to design appropriate credit card fraud detection solutions including algorithms such as Bayesian networks, support vector machines, neural networks and decision trees. What are different types of credit card fraud? The following are different types of credit card fraud: Counterfeit credit cards: Counterfeit credit cards …

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