In the recent article, “Price-bots can collude against consumers,” the Economist discusses the consumer effects of prices set by price-bots. The article starts with an example of gasoline pricing strategies on Martha’s Vineyard. With a small number of gas stations on the island, the price-bots can cover all competitor prices frequently
This is the sixth post in my series of machine learning best practices. If you've come across the series for the first time, you can go back to the beginning or read the whole series. Aristotle was likely one of the first data scientists who studied empiricism by learning through
This is the fifth post in my series of machine learning best practices. Hyperparameters are the algorithm options one "turns and tunes" when building a learning model. Hyperparameters cannot be learned using that algorithm. So, these parameters need to be assigned before training of the model. A lot of manual
This is the fourth post in my series of 10 machine learning best practices. It’s common to build models on historical training data and then apply the model to new data to make decisions. This process is called model deployment or scoring. I often hear data scientists say, “It took
