Supervised Learning Algorithms and Their Business Applications PPT
This PPT slide, part of the 22-slide Artificial Intelligence (AI): Machine Learning (ML) PowerPoint presentation, presents various algorithms used in supervised learning, detailing their applications in business contexts. It categorizes 4 primary algorithms: Linear Regression, Logistic Regression, Linear/Quadratic Discriminant Analysis, and Decision Trees. Each algorithm is accompanied by a brief description and specific examples of its use.
Linear Regression is highlighted as a foundational method for modeling relationships between input and output variables. It is particularly useful for predicting future values, such as optimizing price points and estimating product-price elasticities. This method is essential for businesses looking to understand how changes in pricing can impact demand.
Logistic Regression is described as a classification technique suitable for binary outcomes. The example provided focuses on predicting the malignancy of skin lesions based on their characteristics. This illustrates the algorithm's application in healthcare, where accurate classification can significantly affect patient outcomes.
The Linear/Quadratic Discriminant Analysis method is noted for its ability to refine logistic regression by addressing issues where input variable changes do not proportionally affect outputs. An example given is predicting the likelihood of a sales lead closing, which is crucial for sales strategies and resource allocation.
Lastly, the Decision Tree algorithm is explained as a classification model that organizes data into branches based on decision nodes. The example of understanding product attributes that drive purchasing decisions emphasizes its utility in market analysis and product development.
The concluding statement suggests that selecting the right algorithm depends on the nature of the available data, underscoring the importance of data-driven decision-making in business strategy.
This slide is part of the Artificial Intelligence (AI): Machine Learning (ML) PowerPoint presentation.
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