What is Machine Learning?
The word ‘Machine’ in Machine Learning means computer, as you would expect.
So how does a machine learn?
A computer can use data, as it’s doing right now (this webpage is data). Given
data, we can do all kind of magic with statitics. So can computer algorithms.
These algorithms can solve problems including prediction, classification and clustering.
A machine learning algorithm will learn from new data.
Types of learning
There are two types of learning: supervised learning and unsupervised learning.. Say what?
Let’s suppose we have consumer data. I tell the computer: these customers have a high income, those customers have median income. The training phase.
Then we can ask this computer:
You: Does this customer have a high or median income?
Computer: Based on the training data, I predict a high income.
With unsupervised learning algorithms, you have no idea. You give the data to the computer and expect answers. Surprisingly, these work rather well.