Machine Learning is like a buzzword for all the technologists around. Recalling the simple definition, Machine Learning is a variant of artificial intelligence (AI) that aids software applications in depicting the outcome without going further into programming mode. The main agenda behind machine learning is the use of algorithms that can analyse the output with the help of statistical analysis done on the input data. Thus, it basically focuses on developing computer programs rather than being involved in the actual development. Several types of Machine Learning training are taken up by the tech-savvy people to keep them updated about the latest development and help computers in learning automatically with no human intervention.
Related: Data presentation and analysis, Data Processing
Why Machine Learning gained importance?
Heard about Google’s self -driving car? How the price is determined by Uber for your ride? The online recommendation from Amazon all these have machine learning written all over them. Without them, the digital face of the world will take a turn about. With Machine Learning, the data gets filtered up into useful information and relevant to the user. There are two phases of Machine Learning-Learning & Prediction. It has changed the way data extraction and analysis used to take place.
Some of the popular Machine Learning Methods
There are two kinds of learning methods on a grand scale: Supervised and Unsupervised.
Supervised Learning: These algorithms are used when inputs and outputs are easily identified and are trained using labelled examples to predict the outcome easily. It makes use of some certain function to predict the output. In this the algorithm would receive inputs and outputs to bring out the errors that will help in modifying the algorithm model accordingly. Thus, learning takes place through classification, regression, prediction and gradient boosting.
Unsupervised Learning:This type of learning is not based on historical data. Thus, it works with hidden data to create the model. Transactional model works based on this type of learning. Self-organising maps, singular value decomposition are all the area where unsupervised learning comes into use. A correct output cannot be deduced but inference could be drawn from the given datasets.
Semi-supervised Learning:It is partly supervised and partly unsupervised and uses both labelled and unlabelled data. This could be used along with methods such as classification, regression, and prediction. The very best example of semi-supervised learning is a person’s face on a webcam. This method is particularly chosen when the labelled data requires a certain set of skills to work upon it.
Reinforcement Learning:This algorithm works on trial and error basis and decide the best course of action in all. This type of learning has applications in robotics, gaming or navigation. There are three primary components involved-the agent, the environment and the action. These three work together in conjugation to depict the correct model. In this the agent is responsible for choosing the action that will give maximum output. Thus, in a nutshell this kind of learning method interacts with environment and discover any errors on the probable actions.
Related: Cluster Analysis, Data Visualization, Data Mapping
What are the applications where Machine Learning is used?
Financial and Accounting firm: Machine Learning has gained a higher priority in banks and other financial institutions to analyse the data strategically and find any fraud activity going inside it. Many lost or stolen credit card activities have been detected successfully by the machine learning. The high-risk profiles and possible fraud detection are easily identified by the machine learning.
Healthcare and Medical:Healthcare departments have taken up a keen interest in the implementation of machine learning in their industry. With the help of advanced sensors and other wearable devices, the specialists can detect the pattern of disease in the patient and that too in real time. Machine learning has also helped in improving diagnosis and even finding the most possible treatments for them.
Trading:These days many trading firms are making use of machine learning in executing trade activities at high speed and for numerous clients within minutes. They rely on probability and check whether involving into such trades could prove beneficial for them. The computer can access vast quantity of data and provide the results appropriately within stipulated time period.
Marketing Aspects: Marketing is all about learning the angle in which the customers demand the services. Any organization’s sole purpose lies in satisfying their customers and that is what is helped by machine learning. Even the companies can personalize the emails or ads that would target the right customer. His shopping patterns can help the platform in learning about his preference.
Online Search:Google is particular about your taste. Whatever you search for gets recognised by machine learning and displayed on the user’s screen. The search engine can easily surmise what a user wants during search results and responds to the query accordingly. This kind of use is very helpful for the users who are looking for specific topics.
