Clinical Trials & Predictive Analytics 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 …
Local & Global Minima Explained with Examples
Optimization problems containing many local minima remains a critical problem in a variety of domains, including operations research, informatics, and material design. Efficient global optimization remains a problem of general research interest, with applications to a range of fields including operations design, network analysis, and bioinformatics. Within the fields of chemical physics and material design, efficient global optimization is particularly important for finding low potential energy configurations of isolated groups of atoms (clusters) and periodic systems (crystals). In case of Machine learning (ML) algorithms, theer is a need for optimising (minimising) the cost or loss function. In order to become very good at finding solutions to optimisation problems (relating to minimising …
Most Common Machine Learning Tasks
This article represents some of the most common machine learning tasks that one may come across while trying to solve machine learning problems. Under each task are also listed a set of machine learning methods that could be used to resolve these tasks. Please feel free to comment/suggest if I missed mentioning one or more important points. Also, sorry for the typos. You might want to check out the post on what is machine learning?. Different aspects of machine learning concepts have been explained with the help of examples. Here is an excerpt from the page: Machine learning is about approximating mathematical functions (equations) representing real-world scenarios. These mathematical functions …
Pricing Optimization & Machine Learning Techniques
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 …
Binomial Distribution Explained with Examples
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 …
Procure-to-pay Processes & Machine Learning
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 …
Python – Replace Missing Values with Mean, Median & Mode
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 …
Building Machine Learning Models & Dev 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 …
Fixed vs Random vs Mixed Effects Models – Examples
Have you ever wondered what fixed effect, random effect and mixed effects models are? Or, more importantly, how they differ from one another? In this post, you will learn about the concepts of fixed and random effects models along with when to use fixed effects models and when to go for fixed + random effects (mixed) models. The concepts will be explained with examples. As data scientists, you must get a good understanding of these concepts as it would help you build better linear models such as general linear mixed models or generalized linear mixed models (GLMM). What are fixed, random & mixed effects models? First, we will take a real-world example and try and understand …
Normal Distribution Explained with Python Examples
What is normal distribution? It’s a probability distribution that occurs in many real world cases. In this blog post, you will learn about the concepts of Normal Distribution with the help of Python example. As a data scientist, you must get a good understanding of different probability distributions in statistics in order to understand the data in a better manner. Normal distribution is also called as Gaussian distribution or Laplace-Gauss distribution. Normal Distribution with Python Example Normal distribution is the default probability for many real world scenarios. It represents a symmetric distribution where most of the observations cluster around the central peak called as mean of the distribution. A normal distribution can be thought of as …
Poisson Distribution Explained with Python Examples
Poisson distribution is a probability distribution that can be used to model the number of events in a fixed interval. It is often referred to as “random poisson process” or “poisson process”. The poisson distribution describes how many occurrences of an event occur within a given time frame, for example, how many customers visit your store or restaurant every hour. In this post, you will learn about the concepts of Poisson probability distribution with Python examples. As a data scientist, you must get a good understanding of the concepts of probability distributions including normal, binomial, Poisson etc. What is Poisson distribution? Poisson distribution is the discrete probability distribution which represents the …
Accuracy, Precision, Recall & F1-Score – Python Examples
Classification models are used in classification problems to predict the target class of the data sample. The classification model predicts the probability that each instance belongs to one class or another. It is important to evaluate the performance of the classifications model in order to use these models in production for solving real world problems. Performance measures in machine learning classification models are used to assess how well machine learning classification algorithms perform in a given context. These performance metrics include accuracy, precision, recall and F1-score. Because it helps us understand the strengths and limitations of these models when making predictions in new situations, model performance is essential for machine …
Bagging Classifier Python Code Example
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, …
Demand Forecasting & Machine Learning Techniques
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 …
Classification Problems Real-life Examples
In this post, you will learn about some popular and most common real-life examples of machine learning classification problems. For beginner data scientists, these examples will prove to be helpful to gain perspectives on real-world problems which can be termed as machine learning classification problems. This post will be updated from time-to-time to include interesting real-life examples which can be solved by training machine learning classification models. Before going ahead and looking into examples, let’s understand a little about what is machine learning (ML) classification problem. You may as well skip this section if you are familiar with the definition of machine learning classification problems & solutions. You may want …
Agriculture Use Cases & Machine Learning Applications
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 …
