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Machine learning is a field of computer science that uses statistical techniques to build models from data. These models can be used to predict future outcomes or to classify data into different categories. Logistic regression models are used to predict a categorical outcome from a set of independent variables.
Key Objectives of Statistical Modeling Prediction : One of the primary goals of Statistical Modeling is to predict future outcomes based on historical data. This is especially useful in finance and weather forecasting, where predictions guide decision-making. They are essential in scientific research for concluding limited data.
Healthcare Data Science is revolutionising healthcare through predictiveanalytics, personalised medicine, and disease detection. For example, it helps predict patient outcomes, optimise hospital operations, and discover new drugs. Finance: AI-driven algorithms analyse historical data to detect fraud and predict market trends.
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