Hands-On Data Science with R

Markovian models – real-world applications

This book is being written in the year 2018, and Markovian models seem a little bit overlooked by the general public. There is a great hype around deep and adaptive learning, which tends to divert the attention from more traditional models such as the ones that belong to the Markovian family.

Although Markovian models do very well on chronological data, which explains how well they are doing in the finances field, these models are suitable for exploring any relation that can be conveyed in a set of interconnected states of a system. The list of real-world applications can grow very big but, for simplicity's sake, we will quote only a few, as follows: 

• Typing word prediction: To predict the word ...