Statistics is a branch of mathematics that deals with the collection, analysis and interpretation of data. Statistics is used in a wide variety of fields, including science, engineering, medicine, economics and social research.
In the context of artificial intelligence and machine learning, statistics is a key tool for analysing and modelling data. Machine learning algorithms use statistical techniques to identify patterns and relationships in data and to make predictions and informed decisions.
Some of the important statistical concepts in machine learning include probability theory, statistical inference, regression, analysis of variance, time series analysis and classification. These concepts are used to model data, identify patterns and trends, make predictions and evaluate the accuracy of models.
Credit scoring is a system used to rate credits and thus try to automate the decision making process at the time of purchasing a loan, and to [...]
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Read More »Deep learning translates as deep learning and is a type of artificial intelligence (AI) that is encompassed within machine learning.
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