Category Archives: Machine Learning
GAN vs VAE: Differences, Similarities, Examples
Are you curious about how machines not only learn from data but actually create it? Have you ever found yourself puzzled while trying to choose between Generative Adversarial Networks (GANs) and Variational Autoencoders (VAEs) for your project? Or, even trying to understand when to use GANs or VAEs? Well, you’re not alone! In this blog post, we’re going to learn about two key technologies GANs vs VAEs in the generative modeling, comparing their strengths, weaknesses, and everything in between. We will dive into real-life scenarios, showing when you might want to pull out GANs to generate high-quality, realistic images, and when you’d prefer the control that VAEs provide over the …
Mean Average Precision (MAP) for Information Retrieval Systems
Information retrieval systems including the ones related to semantic search aim to fetch the most relevant documents from a collection based on a user query. To measure the performance of these systems, various evaluation metrics such as Mean Average Precision (MAP), and Normalized Discounted Cumulative Gain (nDCG) are used. Mean Average Precision (MAP) is a popular metrics that quantifies the quality of ranked retrieval results. In this blog, we will look into the intricacies of MAP, its application in semantic search and information retrieval, and we’ll walk through a simple Python example to calculate MAP. What is Mean Average Precision (MAP) Method? Whether we’re talking about classic information retrieval or …
Large Language Models (LLMs) & Semantic Search
Ever scratched your head wondering how a few typed words can bring up the precise information you need from the sprawling web? That’s the work of something called Large Language Models or LLMs, like the GPT-series from OpenAI. These large language models (LLMs) can be used to search that needle-in-a-haystack piece of information you’re after. So, how do they do it? They use smart techniques like Dense Retrieval, Reranking, and Generative Search. In this blog, you will learn about these great techniques in an easy-to-understand way. Dense Retrieval Dense retrieval is a departure from traditional information retrieval approaches that often rely on sparse features like Bag-of-Words (BoW) and Term Frequency-Inverse …
Generative Adversarial Network (GAN): Concepts, Examples
In this post, you will learn concepts & examples of generative adversarial network (GAN). The idea is to put together key concepts & some of the interesting examples from across the industry to get a perspective on what problems can be solved using GAN. As a data scientist or machine learning engineer, it would be imperative upon us to understand the GAN concepts in a great manner to apply the same to solve real-world problems. This is where GAN network examples will prove to be helpful. What is Generative Adversarial Network (GAN)? We will try and understand the concepts of GAN with the help of a real-life example. Imagine that …
K-Means Clustering Concepts & Python Example
Clustering is a popular unsupervised machine learning technique used in data analysis to group similar data points together. The K-Means clustering algorithm is one of the most commonly used clustering algorithms due to its simplicity, efficiency, and effectiveness on a wide range of datasets. In K-Means clustering, the goal is to divide a given dataset into K clusters, where each data point belongs to the cluster with the nearest mean value. The algorithm works by iteratively updating the cluster centroids until convergence is achieved. In this post, you will learn about K-Means clustering concepts with the help of fitting a K-Means model using Python Sklearn KMeans clustering implementation. You will …
Data Science & Big Data Career Paths
Navigating the world of data science can be as complex as the data sets that these professionals work with. As the field continues to evolve at a rapid pace, the array of job roles and career paths have expanded, encompassing a multitude of specializations ranging from Data Analysts and Machine Learning Engineers to Data Scientists. This dynamic landscape offers a wealth of opportunities, but it can also create confusion for those looking to embark on or advance their careers in data science. In this blog, we aim to demystify these career paths in data science, offering clarity on the progression of roles, responsibilities, and skills needed for each. Whether you …
Dynamic Pricing & Machine Learning: Strategies, Examples
Are you a product manager looking to maximize profits and improve product performance, or a data scientist eager to leverage the power of machine learning to solve complex business problems related to dynamic pricing? Do you ever wonder how businesses can optimize their pricing strategies to stay competitive, cater to customer expectations, and enhance their market positioning? In this blog, we uncover the intersection of advanced AI technologies with smart pricing strategies. In an era where customer expectations, market trends, and competitor actions change rapidly, businesses need an agile and data-driven approach to pricing. That’s where dynamic pricing coupled with machine learning comes into play. We’ll explore compelling strategies, reveal …
Pricing Analytics in Banking: Strategies, Examples
Have you ever wondered how your bank decides what to charge you for its services? Or perhaps how do banks arrive at the pricing (fees, rates, and charges) associated with various banking products? If you’re a product manager, data analyst, or data scientist in the banking industry, you might be well aware that these pricing decisions are far from arbitrary. Rather, these pricing decisions are made based on one or more frameworks while leveraging data analytics. They’re the result of intricate pricing strategies, driven by an extensive array of data and sophisticated analytics. In this blog, we will learn about some of the popular pricing strategies banks execute to set …
Machine Learning Use Cases in Finance: Concepts & Examples
What if we can build solutions that could predict financial market trends, assess credit risk with unerring precision, detect fraudulent activities before they occur, and significantly automate your day-to-day operations? Such solutions can be called as predictive analytics solutions which leverages AI / machine learning for making predictions. Machine learning has found its way into finance and is being used in various ways to improve the industry. Finance has always been a data-driven industry, and in recent years, machine learning has become an increasingly important tool for making sense of that data. In this blog post, we will explore some of these use cases and explain how machine learning is …
Weighted Regression Model Python Examples
Have you ever wondered how regression models can be enhanced to provide more accurate predictions, even in the presence of outliers or data points with varying significance? Enter weighted regression machine learning models, an approach that assigns weights to data points, allowing for precise adjustments and improvements in prediction accuracy. In this blog post, we will learn about the concepts of weighted regression models with the help of examples while demonstrating with the help of Python implementation. Traditional linear regression is a widely-used technique, but it may struggle when faced with outliers or situations where some data points carry more weight than others. However, weighted regression models help overcome these …
Heteroskedasticity in Regression Models: Examples
Have you ever encountered data that exhibits varying patterns of dispersion and wondered how it might impact your regression models? The varying patterns of dispersion represents the essence of heteroskedasticity – the phenomenon where the spread or variability of the residuals / errors in a regression model changes across different levels or values of the independent variables. As data scientists, understanding the concept of heteroskedasticity is crucial for robust and accurate analyses. In this blog, we delve into the intriguing world of heteroskedasticity in regression models and explore its implications through real-world examples. What’s heteroskedasticity and why learn this concept? Heteroskedasticity refers to a statistical phenomenon observed in regression analysis, …
Underwriting & Machine Learning Models Examples
Are you curious about how AI / machine learning is revolutionizing the underwriting process? Have you ever wondered how machine learning models are reshaping risk assessment and decision-making in industries like insurance, lending, and securities? Underwriting has long been a critical process for assessing risks and making informed decisions, but with the advent of machine learning, the possibilities have expanded exponentially. By harnessing the immense capabilities of machine learning algorithms and the abundance of data available, organizations can extract actionable insights, achieve higher accuracy, and streamline their underwriting practices like never before. In this blog, we will learn about how machine learning models can be used effectively for underwriting processes, …
Loan Eligibility / Approval & Machine Learning: Examples
It is no secret that the loan industry is a multi-billion dollar industry. Lenders make money by charging interest on loans, and borrowers want to get the best loan terms possible. In order to qualify for a loan, borrowers are typically required to provide information about their income, assets, and credit score. This process can be time consuming and frustrating for both lenders and borrowers. In this blog post, we will discuss how AI / machine learning can be used to predict loan eligibility. As data scientists, it is of great importance to understand some of challenges in relation to loan eligibility and how machine learning models can be built …
Credit Risk Modeling & Machine Learning Use Cases
Have you ever wondered how banks and financial institutions decide who to lend money to, or how much to lend? The secret lies in credit risk modeling, a sophisticated approach that evaluates the likelihood of a borrower defaulting on their loan. Through in-depth analysis of historical data and borrower’s credit behavior, these models play a pivotal role in guiding lending decisions, managing risks, and ultimately, driving profitability. In the face of growing financial complexities, traditional methods are often insufficient. That’s where machine learning comes into play that helps better anticipate credit risk. By automating the identification of patterns within data, patterns that often go unnoticed by human analysis, machine learning …
One-hot Encoding Concepts & Python Examples
Have you ever encountered categorical variables in your data analysis or machine learning projects? These variables represent discrete qualities or characteristics, such as colors, genders, or types of products. While numerical variables can be directly used as inputs for machine learning algorithms, categorical variables require a different approach. One common technique used to convert categorical variables into a numerical representation is called one-hot encoding, also known as dummy encoding. When working with machine learning algorithms, categorical variables need to be transformed into a numerical representation to be effectively used as inputs. This is where one-hot encoding comes to rescue. In this post, you will learn about One-hot Encoding concepts and …
Difference between Parametric vs Non-Parametric Models
When working with machine learning models, data scientists often come across a fundamental question: What sets parametric and non-parametric models apart? This is also one of the most frequent questions asked in the interviews. 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. These two distinct approaches play a crucial role in predictive modeling, each offering unique advantages and considerations. This blog post discusses parametric vs non-parametric machine learning models with examples along with …
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