Machine Learning Models Explained: Overview, Types & much more!

The perfect way to incorporate Ai into your business is using a ML model. Read on to find out more about what is a machine learning model.
Machine Learning Models

With the advancement of modern technology, a particularly significant breakthrough is the development of artificial intelligence (AI). 

One of the branches of AI is machine learning (ML). Machine learning achieves the main goal of AI, which is creating technology that can simulate human behavior and learning. 

Machine learning models can imitate human thinking by interpreting patterns and making predictions based on data fed to them. Machine learning models have developed to the extent that they now possess a sharper decision-making ability than most humans.

Today, machine learning models are incorporated in most aspects of our lives. Common examples are recommendation engines, fraud detectors, business process automation software, and computer virus detection. 

Because of its accurate and quick results, machine learning is an integral part of business operations for companies like Google and Facebook. 

ML models enable businesses to identify the latest market trends, upgrade customer service and develop new products that are in sync with consumer tastes. Thus, by incorporating machine learning models in their business automation, companies can maintain their competitive edge and maximize their productivity and profitability.

What are Machine Learning Models?

Machine learning models are a subset of artificial intelligence that enables software to recognize specific patterns and make accurate predictions without needing to be directly programmed to do so. 

A machine learning model functions as a mathematical expression of AI that consists of an algorithm capable of going through huge amounts of data to deduce a pattern and predict an outcome based on it. 

ML models are divided into two main categories, supervised and unsupervised. Supervised ML models further branch into either regression or a classification pattern. Other than supervised and unsupervised learning, machine learning models can also involve semi-supervised learning or reinforcement learning. 

In supervised ML models, the data fed to the algorithm is labeled with input and output being clearly defined and distinguished. The algorithm is also given clear instructions regarding the variable it needs to evaluate for pattern formation and predictions.

Unsupervised machine learning involves models working with data that is not labeled. The main function of the algorithm is to assess the data and pick out patterns based on any perceived similarities in the variables. 

Semi-supervised learning is a mix of supervised and unsupervised learning. The algorithm is mostly fed labeled data but it can make out patterns based on this data without any supervision.

Reinforcement learning models are mostly used for operations that incorporate multiple steps. The algorithm is not bound by any strict rules and is free to assess data based on its understanding. 

Machine learning models have a wide range of functions, but the scenarios in which they are used normally have some common themes. For example, situations, where a particular decision is repeatedly made, can be automated with the help of an ML model to ensure efficient, accurate, and consistent results because of the algorithm’s ability to recognize the questioning pattern. 

Another opportunity to avail the use of an ML model is when data is divided into a distinct of inputs and outputs and needs to be matched together to map out an accurate resulting image. 

Machine learning models can also be used in situations where determining a solution or criteria behind a decision is not possible.

What is a Pre-Trained ML (Machine Learning) Model?

A pre-trained machine learning model or an inception model is a ready-to-use learning model created by someone else for a function similar to yours.

A pre-trained model functions on a large amount of input data that has already been fed to it that is similar to the type of data you are using. You can fine-tune the system and alter the data present to adjust the model to your needs. 

Since making a machine learning model takes time, energy, and a considerable amount of resources and AI expertise, using a pre-trained model instead of building one from scratch is not only cost-effective but also significantly more efficient.

What is an Unsupervised Machine Learning Model?

An unsupervised machine learning model is one of the major categories of machine learning models. Unsupervised learning is different from supervised learning in the sense that data fed to the algorithm is not labeled. The model is provided with input data but no relating output data. 

In unsupervised learning, your model will recognize patterns and make predictions based on input data that has not been matched to labeled output data. In essence, the model is given the ability to work with data without any supervision and create its pattern detection system. 

The main aim of an unsupervised machine learning model is to infer the patterns of the given dataset, organize the data according to found patterns and similarities, and then present that information in a concise, simplified version. 

For example, suppose an unsupervised machine learning model is fed data that consist of images of cats and dogs. In this case, since there is no supervision, the algorithm has not been trained before the data input and has no labels associated with the images fed to it. The model will work by recognizing similarities in the given images on its own and then separating the images accordingly into distinct categories, which in this case, will be cats and dogs.

The two main ways unsupervised machine learning models work are through clustering and dimensionality reduction. 

Clustering is an unsupervised learning method that works by categorizing data into groups or “clusters” based on similarities detected in the data. Clustering is commonly used in creating categories for customers, detecting fraud, and classifying documents. 

Techniques used in clustering include K-means clustering, hierarchical clustering, density-based clustering, and mean-shift clustering. These methods all work differently, but they all aim to divide data into groups based on its commonalities.

The second unsupervised machine learning model is dimensionality reduction. This method involves decreasing the number of variables in a data set. Variables can be reduced by feature elimination or feature extraction. 

Unsupervised machine learning models are very useful because they are great at finding similarities in data inferring effective recognition patterns. The method also works on unlabeled data which means it can be used on more occasions than supervised learning. This also makes it a more popular approach for complex tasks that involve input data that is not matched to any output data.

What are the 5 Best ML Models?

  1. Classification

Classification is a type of supervised machine learning model. In this technique, each input is matched to a labeled output. The output data is continuous. 

Classification consists of a large training data set composed of input and output variables that essentially “teach” the algorithm how to create inference patterns for new data fed into it. The training set needs to be large and varied because it is what helps to supervise the classification of new data.

Classification is used for language identification, document search, hand-writing identification, fraud detection, and spam filtration. 

Here are some techniques commonly used in classification:

  • Logistic Regression-This is a linear model and it is used to categorize binary data points. 
  • Decision Tree– This model classifies data based on the “If Else” system and is more sensitive to any data anomalies.
  • Naïve Bayes– This method is based on Bayes principle.
  • Support Vector Machines- This technique is useful in categorizing complex data sets. It can be used to classify data with two or more variables. 

Pros:

  • Can be used for linear problems as well as non-linear problems
  • Efficient and accurate
  • Results are not clouded by anomalies, outliers, and bias

Cons:

  • Not very effective for very complex datasets
  • Classification learning model training is very technical and can be expensive
  1. Regression

Regression is a supervised machine learning model that uses statistical analysis to determine associations between one or more independent data points and a single dependent data point.

In regression, the output data is continuous.

The main purpose of using a regression model is to analyze the change in a dependent variable to the change in an independent variable when all other variables are kept constant. 

Here are some techniques commonly used in regression:

  • Linear Regression– This is the most commonly used regression model. It is best suited to simple, linear data. 
  • Decision Tree– Decision trees are popular because they are easy to assemble and use. They are used in both regression and classification models. They lack accuracy.
  • Random Forest– Random forests are a collection of decision trees and are more accurate than decision trees because they decrease the error margin of a single tree. Random forests are specific o regression models and are not used in classification models. 

Pros:

  • One of the best models for making predictions based on patterns recognized in a given data set
  • Easy to install and use. The model is also highly efficient

Cons:

  • The model cannot work properly if there are any problems with the input data
  • The use of incomplete data may result in mislabeling a correlation as a causation
  1. Clustering

Clustering is an unsupervised learning method that works by categorizing data into groups or “clusters” based on similarities detected in the data.

 Clustering is commonly used in creating categories for customers, detecting fraud, and classifying documents. 

Here are some techniques commonly used in clustering:

  • K-means clustering
  • Hierarchical clustering
  • Density-based clustering
  • Mean-shift clustering

Pros:

  • The database automatically recovers from failure
  • It is well-suited to complex systems and systems that are growing and expanding
  • It can integrate with multiple machines so it increases the processing power of your system

Cons:

  • It is complex and requires training of workers before it can be implemented
  • The probability of recovering the database from any sort of malware corruption is low
  1. Dimensionality Reduction

Dimensionality reduction is an unsupervised machine learning model. 

This method involves decreasing the number of variables in a data set. Variables can be reduced by feature elimination or feature extraction. 

Here are some techniques commonly used in dimensionality reduction:

  • Principle component analysis (PCA)
  • Singular value decomposition (SVD)

Pros:

  • It is a great option for data visualization
  • Minimizes the time and space required for data storage. This makes the model more efficient and cost-effective

Cons:

  • Increasing the number of input variables can decrease the predictive abilities of the model
  • It may lead to some degree of data loss
  • It may not function as efficiently in cases where data mean and covariance is not clear
  1. Deep Neural Networks 

Deep neural networks are a type of unsupervised machine learning model. These algorithms focus on recognizing patterns and imitating the way the human brain functions. 

The main aim of deep neural networks is to process sensory input data and convert it into digital information. 

Here are some techniques used in deep neural networks:

  • Convolution neural networks (CNN)
  • Recurrent Neural Networks (RNN)
  • Boltzmann machine
  • Multi-layer perceptron

Pros:

  • The same model can be used for different kinds of problems and one model can have multiple applications
  • The model is automatically fine-tuned to ensure maximum efficiency
  • The model has increased flexibility and can deal with futuristic problems 

Cons:

  • The model requires a huge data set to work more efficiently than other models
  • Training staff to use the model is expensive due to its complex system
  • It is expensive to install and implant because it requires a large number of GPUs and machines

Why Folio3 is your best Machine Learning Modeling Partner

To successfully employ the use of machine learning models, one of the best resources you can avail of is Folio3.

Folio3 has a team of data scientists, economists, and consultants that are specially trained in automating businesses by incorporating machine learning, natural language processing, computer vision, and predictive analysis all in your company operations.   

Folio3 understands that any modern business that wants to maximize its profitability and productivity as well as maintain its competitive edge, needs to take advantage of the rapidly advancing world of AI. 

Machine learning models can be installed through artificial intelligence services like Folio3. The company provides a platform to reinvent your system with the help of modern technology. 

Making your machine learning models from scratch can be time-consuming and costly. One of the many services Folio3 offers is pre-built ML learning models. These pre-trained machine learning models can be found and installed efficiently through Folio3’s services that cater towards computer vision and system automation. 

With the sheer amount of data that businesses have to process today, manually working to evaluate and quantify all your information is not only a laborious process, but it is simply not practical. 

Artificial intelligence techniques like machine learning models are capable of processing a huge amount of data in a small period, inferring critical patterns, and using that information to make smart, accurate, and quick decisions. Not only this but automating your system with a machine learning model significantly decreases the error margin in your company decisions. 

Folio3 Predictive Analytics Solutions is the best partner to your machine learning model. It will help you integrate your ML model with the latest data-gathering techniques so that you can gather and analyze data as well as make predictions based on your interventions at the same time. This makes for the most efficient and compact automation solution. 

One problem that your machine learning models might face is coping with the different forms in which data is presented to them. Partnering with Folio3 will ensure that all your natural language processing requirements are fulfilled.

This software will ensure that data in all forms from emails, texts, online forums, and even tweets and voice messages are converted into information that can be fed as an input to your machine learning model. The software’s algorithm will allow voice and text data to be processed and is customizable so you can successfully integrate it with your ML model for maximized efficiency.  

Lastly, Folio3 gives you a platform to collect and assess aerial data in real-time with AI drones

AI drones provided with computer vision can gather data relating to livestock, crops, terrain, etc., and instantaneously sync it to your machine learning model so that you can achieve the quickest possible patterns and predictions. 

Folio3 makes for the best partner for your machine learning model because it solves any obstacles that your model may face, be it language, location, or even production of the model itself. It makes sure that you can use your machine learning model to its full capacity.

Frequently Asked Questions about Machine Learning Models

How to Deploy Machine Learning Models?

Machine learning models are deployed as web services or batch predictions. 
Deploying a machine learning model on an online server means first creating a web browser, installing a machine learning model in it, and then training the model by testing it with input data. After enough trials with successful predictions, the model can be used online. 
Machine learning models deployed as batch predictions mean creating offline models. These models are often considered to be better suited to complex tasks or tasks which involve multiple components.

How to Compare Machine Learning Models?

Due to the rapid advancement of machine learning models, it can be difficult to determine which one is best suited for your company. To figure out the model most effective for you, it is important to know how to compare machine learning models. 
Machine learning models are generally compared through running parallel experiments. To properly compare machine learning models, there are two main parameters to be considered, development-based parameters, and production-based parameters. 
Development-based parameters include statistical tests to confirm that the algorithm running the model is sound. Since ML models are essentially composed of mathematical equations, tests like ANOVA, Chi-Square and null hypothesis are some forms of evaluation used to determine whether the model’s equations and algorithm are suitable for the data it is going to assess.
Production-based parameters involve testing how long the model will take in producing results, and deciding whether it is suitable to work in situations where real-time solutions are needed. 
These parameters also include time taken to install the model, train staff on using the model, and time taken for any potential retraining.

Conclusion

Machine learning models are a crucial part of modern-day technology and their use is incorporated in most aspects of our lives. 

From search bars to medical diagnosing, image processing, predictive analyzing, and many more, the use of machine learning models has rapidly increased. This is mostly because these systems enable us to make faster, more accurate decisions. The use of ML learning maximizes efficiency and productivity and helps businesses maintain their competitive edge. 

The model you use depends on the data set you have presented and the extent to which you want to automate your business.

 Whatever the case, with the increasing number of machine learning models available, you are sure to find one that perfectly complements your business. If not, you can always work with experts like Folio3 to make or buy a model-specific to your needs.

Muhammad Imran is a regular content contributor at Folio3.Ai, In this growing technological era, I love to be updated as a techy person. Writing on different technologies is my passion and understanding of new things that I can grow with the world.

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