Machine Learning with Regression Modeling
We use regression modeling in our machine learning projects to understand and quantify the relationship between variables, make predictions or forecasts, and uncover patterns or trends in your data such as:
- How does a change in one variable affect another variable?
- What are the key factors that influence a particular outcome?
- Can we predict the value of a variable based on other variables?
- How strong is the relationship between variables, and what is the direction of the relationship?
Common types of regression models include lasso regression, linear regression, logistic regression, multiple regression, non-linear regression, polynomial regression, ridge regression, stepwise regression, time series regression. Regression modeling is a powerful, machine learning component that we use to help you find answers to your business questions and make better data-driven decisions.
Here are several types of regression models that we use in machine learning, depending on the specific characteristics of the data and the business requests.
Linear Regression
Linear regression models the relationship between a dependent variable and one or more independent variables as a linear equation. We use linear regression when the relationship between variables is expected to be linear, i.e., a constant change in the independent variable(s) is associated with a constant change in the dependent variable.
Ridge Regression Lasso Regression
Ridge regression and
lasso regression are variants of linear regression that we use when working with multicollinearity and for feature selection. Both introduce penalties on the magnitude of the coefficients in the linear regression model to prevent overfitting and improve model performance.
Logistic Regression
Logistic regression models the probability of an event occurring or a binary outcome based on one or more independent variables. We use logistic regression for binary classification problems, where the goal is to predict the likelihood of an event or outcome occurring.
Multiple Regression
Multiple regression extends linear regression to model the relationship between a dependent variable and two or more independent variables. We use multiple regression when there are multiple independent variables that may collectively influence the dependent variable.
Nonlinear Regression
Nonlinear regression models the relationship between a dependent variable and one or more independent variables as a nonlinear function, allowing for complex and flexible relationships between variables. We use nonlinear regression when the relationship between variables is expected to be nonlinear and cannot be accurately modeled by linear regression.
Polynomial Regression
Polynomial regression models the relationship between a dependent variable and an independent variable as a polynomial function, allowing for non-linear relationships. We use polynomial regression when the relationship between variables is expected to be non-linear.
Stepwise Regression
Stepwise regression is a variable selection technique that automatically selects a subset of the most important independent variables to include in the regression model. We use stepwise regression to identify the most relevant variables for predicting the dependent variable and to simplify the model.
Time Series Regression
Time series regression models the relationship between a dependent variable and time as an independent variable, taking into account the temporal dependencies in the data. We use time series regression to analyze and forecast time-dependent data.
These are a few common types of regression models we use in machine learning. Each type of regression model has its strengths and limitations, and the regression model type depends on specific characteristics of the data, the business type such as
construction,
consumer packaged goods,
e-commerce,
lead generation, or
restaurants, and the desired goals of the analysis.
