Traditional And Data Driven Predictive Statistical Models
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Traditional And Data Driven Predictive Statistical Models
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Author : Dr. Neeta Kishor Dhane
language : en
Publisher: Laxmi Book Publication
Release Date : 2021-07-23
Traditional And Data Driven Predictive Statistical Models written by Dr. Neeta Kishor Dhane and has been published by Laxmi Book Publication this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-07-23 with Art categories.
The desire to know the unknown has always been one of the human characteristics that distinguish humans from other living things on the earth. The past is known but cannot be changed, and hence is if no interest. The present is happening and everyone is witnessing it and therefore it is not exciting. But the future is both unknown and perhaps therefore uncertain, and is therefore both interesting and exciting. Using past experience for predicting the unknown future was initially treated as an art because it require careful choice of parts of the past that will make prediction both easy and accurate, and there were times when it was felt that it is impossible to formulate a method for this. Prediction was then not considered to be scientific empirical sciences that learn from scientist and professionals realized the scientific nature of the ability to predict. What then began as the preparation for developing a prediction formula involved finding common patterns in past data and their consequences so that the consequence can be predicted as soon as the relevant pattern is observed. At the same time the discipline of statistics developed the concept and methodology for building statistical models. With experience in the development and applications of different models, scientists and researchers identify models as belonging to four different classes namely, the class of descriptive models, the class of diagnostic models, the class of predictive models, and the class of prescriptive or prognostic models. The scientific or theoretical activity of building models and analyzing data accordingly is known as analytics. It has therefore been recognized that there are four classes of analytics, namely descriptive analytics, diagnostic analytics, prescriptive analytics and predictive analytics. These four classes are defined briefly for convenience of the reader.
Development Of Data Driven Models For Chemical Engineering Systems
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Author : Nusrat Parveen
language : en
Publisher: Mohammed Abdul Malik
Release Date : 2024-03-04
Development Of Data Driven Models For Chemical Engineering Systems written by Nusrat Parveen and has been published by Mohammed Abdul Malik this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-03-04 with Science categories.
Modeling of any system or a process is one of the significant but challenging tasks in engineering. The challenge is either due to the physical complexity of natural phenomenon or our limited knowledge of mathematics. Recently, data driven modeling (DDM) has been found to be a very powerful tool in helping to overcome those challenges, by presenting opportunities to build basic models from the observed patterns as well as accelerating the response of decision makers in facing real world problems. Since DDM is able to map causal factors and consequent outcomes from the observed patterns (experimental data), without deep knowledge of the complex physical process, these modeling techniques are becoming popular among engineers. Soft computing and statistical models are the two commonly employed data-driven models for predictive modeling. As far as the statistical data-driven models are concerned, these models could be employed in the life of modern engineering. But the accuracy and generalizability of these models is very poor. The soft computing data- driven modeling techniques have attracted the attention of many researchers across the globe to overcome the limitations of statistical methods. The statistical data-driven modeling techniques such as least-squares methods, the maximum likelihood methods and traditional artificial neural network (ANN) are based on empirical risk minimization (ERM) principle while the support vector machine (SVM) method is based on the structural risk minimization (SRM) principle. According to it, the generalization accuracy is optimized over the empirical error and the flatness of the regression function or the capacity of SVM. On the other hand, the ANN and other traditional regression models which are based on ERM principle minimize the empirical error and do not consider the capacity of the learning machines. This results in model over fitting i.e. high prediction accuracy for the training data set and low for the test (unseen) data, giving poor generalization performance. SVMs belong to the supervised machine learning theory and are applied to both nonlinear classification called support vector classification (SVC) and regression or SVR. SVM possesses many advantages over traditional neural networks.
Statistical Prediction And Machine Learning
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Author : John Tuhao Chen
language : en
Publisher: CRC Press
Release Date : 2024-08-06
Statistical Prediction And Machine Learning written by John Tuhao Chen and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-08-06 with Business & Economics categories.
Written by an experienced statistics educator and two data scientists, this book unifies conventional statistical thinking and contemporary machine learning framework into a single overarching umbrella over data science. The book is designed to bridge the knowledge gap between conventional statistics and machine learning. It provides an accessible approach for readers with a basic statistics background to develop a mastery of machine learning. The book starts with elucidating examples in Chapter 1 and fundamentals on refined optimization in Chapter 2, which are followed by common supervised learning methods such as regressions, classification, support vector machines, tree algorithms, and range regressions. After a discussion on unsupervised learning methods, it includes a chapter on unsupervised learning and a chapter on statistical learning with data sequentially or simultaneously from multiple resources. One of the distinct features of this book is the comprehensive coverage of the topics in statistical learning and medical applications. It summarizes the authors’ teaching, research, and consulting experience in which they use data analytics. The illustrating examples and accompanying materials heavily emphasize understanding on data analysis, producing accurate interpretations, and discovering hidden assumptions associated with various methods. Key Features: Unifies conventional model-based framework and contemporary data-driven methods into a single overarching umbrella over data science. Includes real-life medical applications in hypertension, stroke, diabetes, thrombolysis, aspirin efficacy. Integrates statistical theory with machine learning algorithms. Includes potential methodological developments in data science.
An Algorithmic Crystal Ball Forecasts Based On Machine Learning
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Author : Jin-Kyu Jung
language : en
Publisher: International Monetary Fund
Release Date : 2018-11-01
An Algorithmic Crystal Ball Forecasts Based On Machine Learning written by Jin-Kyu Jung and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-11-01 with Computers categories.
Forecasting macroeconomic variables is key to developing a view on a country's economic outlook. Most traditional forecasting models rely on fitting data to a pre-specified relationship between input and output variables, thereby assuming a specific functional and stochastic process underlying that process. We pursue a new approach to forecasting by employing a number of machine learning algorithms, a method that is data driven, and imposing limited restrictions on the nature of the true relationship between input and output variables. We apply the Elastic Net, SuperLearner, and Recurring Neural Network algorithms on macro data of seven, broadly representative, advanced and emerging economies and find that these algorithms can outperform traditional statistical models, thereby offering a relevant addition to the field of economic forecasting.
Intelligent Techniques For Predictive Data Analytics
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Author : Neha Singh
language : en
Publisher: John Wiley & Sons
Release Date : 2024-07-30
Intelligent Techniques For Predictive Data Analytics written by Neha Singh and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-07-30 with Computers categories.
Comprehensive resource covering tools and techniques used for predictive analytics with practical applications across various industries Intelligent Techniques for Predictive Data Analytics provides an in-depth introduction of the tools and techniques used for predictive analytics, covering applications in cyber security, network security, data mining, and machine learning across various industries. Each chapter offers a brief introduction on the subject to make the text accessible regardless of background knowledge. Readers will gain a clear understanding of how to use data processing, classification, and analysis to support strategic decisions, such as optimizing marketing strategies and customer relationship management and recommendation systems, improving general business operations, and predicting occurrence of chronic diseases for better patient management. Traditional data analytics uses dashboards to illustrate trends and outliers, but with large data sets, this process is labor-intensive and time-consuming. This book provides everything readers need to save time by performing deep, efficient analysis without human bias and time constraints. A section on current challenges in the field is also included. Intelligent Techniques for Predictive Data Analytics covers sample topics such as: Models to choose from in predictive modeling, including classification, clustering, forecast, outlier, and time series models Price forecasting, quality optimization, and insect and disease plant and monitoring in agriculture Fraud detection and prevention, credit scoring, financial planning, and customer analytics Big data in smart grids, smart grid analytics, and predictive smart grid quality monitoring, maintenance, and load forecasting Management of uncertainty in predictive data analytics and probable future developments in the field Intelligent Techniques for Predictive Data Analytics is an essential resource on the subject for professionals and researchers working in data science or data management seeking to understand the different models of predictive analytics, along with graduate students studying data science courses and professionals and academics new to the field.
Statistical And Machine Learning Data Mining
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Author : Bruce Ratner
language : en
Publisher: CRC Press
Release Date : 2017-07-12
Statistical And Machine Learning Data Mining written by Bruce Ratner and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-07-12 with Computers categories.
Interest in predictive analytics of big data has grown exponentially in the four years since the publication of Statistical and Machine-Learning Data Mining: Techniques for Better Predictive Modeling and Analysis of Big Data, Second Edition. In the third edition of this bestseller, the author has completely revised, reorganized, and repositioned the original chapters and produced 13 new chapters of creative and useful machine-learning data mining techniques. In sum, the 43 chapters of simple yet insightful quantitative techniques make this book unique in the field of data mining literature. What is new in the Third Edition: The current chapters have been completely rewritten. The core content has been extended with strategies and methods for problems drawn from the top predictive analytics conference and statistical modeling workshops. Adds thirteen new chapters including coverage of data science and its rise, market share estimation, share of wallet modeling without survey data, latent market segmentation, statistical regression modeling that deals with incomplete data, decile analysis assessment in terms of the predictive power of the data, and a user-friendly version of text mining, not requiring an advanced background in natural language processing (NLP). Includes SAS subroutines which can be easily converted to other languages. As in the previous edition, this book offers detailed background, discussion, and illustration of specific methods for solving the most commonly experienced problems in predictive modeling and analysis of big data. The author addresses each methodology and assigns its application to a specific type of problem. To better ground readers, the book provides an in-depth discussion of the basic methodologies of predictive modeling and analysis. While this type of overview has been attempted before, this approach offers a truly nitty-gritty, step-by-step method that both tyros and experts in the field can enjoy playing with.
Predictive Modeling And Analytics
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Author : Jeffrey Strickland
language : en
Publisher: Lulu.com
Release Date : 2014-08-06
Predictive Modeling And Analytics written by Jeffrey Strickland and has been published by Lulu.com this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-08-06 with Business & Economics categories.
This book is about predictive modeling. Yet, each chapter could easily be handled by an entire volume of its own. So one might think of this as a survey of predictive models, both statistical and machine learning. We define A predictive model as a statistical model or machine learning model used to predict future behavior based on past behavior. In order to use this book, the reader should have a basic understanding of statistics (statistical inference, models, tests, etc.)-this is an advanced book. Every chapter culminates in an example using R. R is a free software environment for statistical computing and graphics. It compiles and runs on a wide variety of UNIX platforms, Windows and MacOS. The book is organized so that statistical models are presented first (hopefully in a logical order), followed by machine learning models, and then applications: uplift modeling and time series. One could use this as a textbook with problem solving in R (there are no "by-hand" exercises).
Statistical And Econometric Methods For Transportation Data Analysis
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Author : Simon Washington
language : en
Publisher: CRC Press
Release Date : 2020-01-30
Statistical And Econometric Methods For Transportation Data Analysis written by Simon Washington and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-01-30 with Technology & Engineering categories.
The book's website (with databases and other support materials) can be accessed here. Praise for the Second Edition: The second edition introduces an especially broad set of statistical methods ... As a lecturer in both transportation and marketing research, I find this book an excellent textbook for advanced undergraduate, Master’s and Ph.D. students, covering topics from simple descriptive statistics to complex Bayesian models. ... It is one of the few books that cover an extensive set of statistical methods needed for data analysis in transportation. The book offers a wealth of examples from the transportation field. —The American Statistician Statistical and Econometric Methods for Transportation Data Analysis, Third Edition offers an expansion over the first and second editions in response to the recent methodological advancements in the fields of econometrics and statistics and to provide an increasing range of examples and corresponding data sets. It describes and illustrates some of the statistical and econometric tools commonly used in transportation data analysis. It provides a wide breadth of examples and case studies, covering applications in various aspects of transportation planning, engineering, safety, and economics. Ample analytical rigor is provided in each chapter so that fundamental concepts and principles are clear and numerous references are provided for those seeking additional technical details and applications. New to the Third Edition Updated references and improved examples throughout. New sections on random parameters linear regression and ordered probability models including the hierarchical ordered probit model. A new section on random parameters models with heterogeneity in the means and variances of parameter estimates. Multiple new sections on correlated random parameters and correlated grouped random parameters in probit, logit and hazard-based models. A new section discussing the practical aspects of random parameters model estimation. A new chapter on Latent Class Models. A new chapter on Bivariate and Multivariate Dependent Variable Models. Statistical and Econometric Methods for Transportation Data Analysis, Third Edition can serve as a textbook for advanced undergraduate, Masters, and Ph.D. students in transportation-related disciplines including engineering, economics, urban and regional planning, and sociology. The book also serves as a technical reference for researchers and practitioners wishing to examine and understand a broad range of statistical and econometric tools required to study transportation problems.
Data Driven Situational Awareness And Decision Making For Smart Grid Operation
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Author : Lipeng Zhu
language : en
Publisher: Frontiers Media SA
Release Date : 2023-10-05
Data Driven Situational Awareness And Decision Making For Smart Grid Operation written by Lipeng Zhu and has been published by Frontiers Media SA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-10-05 with Technology & Engineering categories.
Data Driven Mathematical And Statistical Models Of Online Social Networks
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Author : Shudong Li
language : en
Publisher: Frontiers Media SA
Release Date : 2022-03-07
Data Driven Mathematical And Statistical Models Of Online Social Networks written by Shudong Li and has been published by Frontiers Media SA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-03-07 with Science categories.