What is regression?

This article explains the concept of Regression as a Machine Learning term, and as a concept within the AI & Analytics Engine: Regression is a type of problem where one needs to predict a numeric value of an object

What type of problem is Regression? 

Regression is a type of problem where one needs to predict a numeric value of an object, for example:

• Predict how many units of products a customer will buy next week/month.

• Predict the total claim amount a health insurance customer will make over the next year, based on their lifestyle and medical history.

• Predict the total amount of monetary value a customer would spend during their entire time using the products that a business has to offer.

Proper data-driven prediction can assist in making faster and more accurate business decisions. Automating the process using machine-learning models is crucial, especially when dealing with a large amount of data.

Regression using the AI & Analytics Engine

State-of-the-art algorithms for regression modeling are available on the AI & Analytics Engine in the App builder pipeline. You can manually choose the regression algorithm, or have the Engine choose the best based on prediction quality or training time.