Predictive Analytics: Data Mining, Machine Learning and Data Science for Practitioners, 2nd Edition

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Advanced Topics in Predictive Modeling

Predictive analytics is still as much art as it is science. For a given business problem and a set of real-world data, developing predictive analytics and machine learning models that are capable of producing highly accurate and unbiased predictions that are interpretable and explainable by humans while computationally efficient and easily deployable is a challenging task for any data scientist. Although we have seen significant improvements in the standardization and automation of methodologies (such as the CRISP methodology described in Chapter 3, “Standardized Processes for Predictive Analytics”) and creation of best/better practices for model building in recent years, the true optimization of the ...