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 under the “Create App” function, with the option "Predict a variable/column" followed by choosing "Predict a numeric value".
The Engine automatically recommends this option when the data in the column selected for prediction (i.e., the “target column”) is numeric.
💡Read more about how to create an application for a regression problem