Artificial Intelligence for Business, 2nd Edition

10

Applying Machine Learning Algorithms

In this chapter:

• Understanding the bias-variance trade-off

• Building a model that fits your data

• Understanding the concepts of underfitting and overfitting

• Choosing the right algorithm(s) for the job

In the movie All the President’s Men, the top informant of the Watergate scandal, code-named Deep Throat, met with Washington Post reporter Bob Woodward in a dark parking garage and told him to “follow the money.” Only by following the money could the reporter find the truth. I’m reminded of the phrase when I think about machine learning (ML) algorithms. Except instead of following the money you must “follow ...