11-20 Flashcards
Correlation
Statistic that measures the degree to which two variables move in relation to each other.
Regression Analysis
Statistical method used for the estimation of relationships between a dependent variable and one or more independent variables.
Outlier
Data point that is significantly different from other observations. It could be an error or real, but a unique occurrence.
Time series analysis
Uses data collected over time and tries to spot trends over time.
Machine learning
Where we train computers to learn from data and make decisions or predictions.
Predictive Modeling
Statistical technique that creates a mathematical model that uses historical data to predict future outcomes.
Clustering
Grouping similar items or data points together.
Classification
Categorising data based on specific criteria.
Data mining
Finding patterns or insights in large datasets.
Text mining
The process of extracting meaning from unstructured text data to identify patterns and insights
