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Ridge vs LASSO vs Elastic Net Regression

TheDataMonk Grand Master April 3, 2020 Machine Learning , Statistics , Uncategorized Comments Off 1687 views

Ridge and LASSO are two important regression models which comes handy when Linear Regression fails to work.This topic needed a different mention without it's important to understand COST function and the way it's calculated for Ridge,LASSO, and any ...

Linear, LASSO, Elastic Net, and Ridge Regression in Layman terms (R) with complete code – Part 1

TheDataMonk Grand Master April 1, 2020 Machine Learning , Statistics , Uncategorized Comments Off 695 views

Linear, LASSO, Elastic Net, and Ridge Regression are the four regression techniques which are helpful to predict or extrapolate the prediction using the historic data. Linear doesn't have any inclination towards the value of lambda.LASSO ...

One Hot Encoding – Feature Engineering

TheDataMonk Grand Master March 28, 2020 Machine Learning , Statistics , Uncategorized 2 Comments 1373 views

So, I just started solving the latest Hackathon on Analytics Vidhya, Women in the loop . Be it a real-life Data Science problem or a Hackathon, one-hot encoding is one of the most important part of ...

Feature Engineering in Data Science

TheDataMonk Grand Master March 20, 2020 Machine Learning , Uncategorized Comments Off 769 views

Have you ever wondered why two different people gets different accuracy while using the same algorithm?We all know that XGBoost can help us get a very good result in our Hackathons, but then also only few people achieve ...

Correlation and Collinearity explained in layman terms

TheDataMonk Grand Master March 19, 2020 Machine Learning , Statistics , Uncategorized 1 Comment 2079 views

Correlation tells you have two numerical variables relate to each other. It will tell you whether data points that have a higher than average value for one variable will also likely have a higher than average value for ...

What is the difference between forecasting and prediction?

TheDataMonk Grand Master February 17, 2020 Machine Learning , Statistics , Uncategorized 3 Comments 1767 views

Forecasting and Prediction are two different things. You always forecast weather, but never predict the weather. Forecasting is nothing but a extrapolation of the past. You have some historic data, and you ...

Explain p-value in simple terms

TheDataMonk Grand Master February 16, 2020 Machine Learning , Statistics , Uncategorized 5 Comments 2484 views

p-value in simple termsIf you are into Data Science, then you must have heard about p-value.I could have started it with a very superficial definition strolling around probability and significance and null hypothesis, etc. But that's already there ...

Confusion Matrix in Data Science, meaning and example

TheDataMonk Grand Master February 13, 2020 Machine Learning , Statistics , Uncategorized 9 Comments 2363 views

What is Confusion Matrix?Confusion Matrix is a performance measuring technique for ML Classification model.Why do we need Confusion Matrix? Is measuring accuracy not enough?Confusion Matrix suggests the actual accuracy of your model. For example. Suppose I want to ...