Snapdeal Interview Question | Markov Chains
Question
What is the importance of Markov Chains in Data Science?
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Answer ( 1 )
The traditional approach to predictive modelling has been to base probability on the complete history of the data that is available and try to understand the underlying themes and trajectories, but that’s not the case when it comes to Markov chains.
The Markov Process is a method of predictive modelling that is fast, accurate, and bases all future predictions on the present situation.
Whether it’s predicting the outcome of cricket matches or understanding the causes of severe pneumonia in children, the Markov process is a fairly common methodology utilized by data scientists in the quest to create more accurate predictive analytical models at a faster rate.