Machine learning is a collection of algorithms that can learn from its environment feedback and make predictions based on existing or historic data, optimize a given utility function under uncertainty, extract hidden structures from data and classify data into concise descriptions.
Machine Learning Process
→ In our machine learning process, first we identify and supervise the dataset that we want to work with, the data can be structured or unstructured.
→ Then the algorithm is trained to build models and which would then start predicting some results.
→ Once the predictions are there we do evaluations and based on the evaluations decisions can be proposed to the relevant internal or external stakeholders.