May 2019
Intermediate to advanced
162 pages
4h 24m
English
Parametric models that we've already covered have some really great and convenient attributes. There are several reasons you may opt for a parametric model over a non-parametric model. Particularly if you're in a regulated industry, we need to explain the models more easily. Non-parametric models, on the other hand, may create a better, more complex model. But if you don't have a good chunk of data, it may not perform very well. It is best not to get overly philosophical about which one you should or should not use. Just use whichever best fits your data and meets your business requirements.
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