Machine Learning

Refers to the capability of digital equipment to perform analysis and computations using software algorithms that improve automatically through experience. It is seen as a subset of artificial intelligence. Machine learning algorithms build a model based on sample data, known as “training data”, to make predictions or decisions, which they are not explicitly programmed to do. A subset of machine learning is closely related to computational statistics, which focuses on making predictions. The study of mathematical optimization delivers methods, theory and application domains to the field of machine learning. Data mining is a related field of study, focusing on exploratory data analysis through unsupervised learning. In its application across business problems, machine learning is also referred to as predictive analytics.