Abstract
Machine learning comprises a broad range of analysis methods that can be applied to artefacts such as data, images, and sound recordings to produce insights or findings. This chapter describes what machine learning is and how it works. It then provides an example of real-world application of machine learning to address industry problem. The chapter concludes by discussing important considerations when using machine learning methods to ensure that quality results are produced, and these results are validly interpreted.
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Glossary
Glossary
- ARIMA:
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Autoregressive Integrated Moving Average – class of algorithms for forecasting a time series. As the model’s name suggests that it is a combination of auto-regression (AR) model with moving average (MA) model.
- Algorithmics:
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Subfield of computer science. Study of design and efficiency of algorithms.
- Centroid:
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Machine learning method that has its origins in geometric decomposition; it is a representative of a given cluster or, in other terms, the center of a given group.
- Entropy:
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In information theory, average amount of information attributable to a single message from information source.
- Extrapolation:
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It is the use of the same machine learning model to calculate output variable value for input variable values falling outside training data values.
- Labelled data:
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In machine learning, data that have already been categorized.
- Prediction:
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In machine learning, calculating the value of output variable for input variable values falling within training data values.
- Probability Distribution:
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Function used to compute the likelihoods of occurrence of various observation outcomes.
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Rybak, N., Hassall, M. (2022). Machine Learning–Enhanced Decision-Making. In: Hussain, C.M., Di Sia, P. (eds) Handbook of Smart Materials, Technologies, and Devices. Springer, Cham. https://doi.org/10.1007/978-3-030-84205-5_20
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