2020
DOI: 10.5593/sgem2020/2.1/s07.041
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Systematic Look at Machine Learning Algorithms � Advantages, Disadvantages and Practical Applications

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Cited by 18 publications
(9 citation statements)
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“…The branch of artificial intelligence (AI) called ML is a prime technology to study. During the last years, the availability of vast amounts of data and information has allowed for more correct predictions to be made using ML models, while traditional machine learning algorithms are supported by methods that lead to the development of faster and more dynamic algorithms with better accuracy [ 3 ]. Machine learning models have the capability for learning and adapting according to the problem that needs to be solved, while conventional programming options are limited by the fact that the individuals who implement them are expected to already possess knowledge of the idiosyncrasies of the system the solution is being tailored for [ 4 ].…”
Section: Introductionmentioning
confidence: 99%
“…The branch of artificial intelligence (AI) called ML is a prime technology to study. During the last years, the availability of vast amounts of data and information has allowed for more correct predictions to be made using ML models, while traditional machine learning algorithms are supported by methods that lead to the development of faster and more dynamic algorithms with better accuracy [ 3 ]. Machine learning models have the capability for learning and adapting according to the problem that needs to be solved, while conventional programming options are limited by the fact that the individuals who implement them are expected to already possess knowledge of the idiosyncrasies of the system the solution is being tailored for [ 4 ].…”
Section: Introductionmentioning
confidence: 99%
“…machine learning models possess the ability to learn and adjust according to the problem, whereas traditional programming alternatives are constrained since those implementing them are expected to already understand the intricacies of the system for which the solution is being customized [48]. In recent years, the accessibility of extensive volumes of data and information has enabled more fast and accurate ML models [49]. The swift growth in available data, facilitated by improved sensor inventions, has significantly elevated the significance of machine learning, transforming it into a potent instrument for numerous applications between various disciplines.…”
Section: Related Work and Rationalementioning
confidence: 99%
“…Although relationships between housing choices and the determinants are atypical and nonlinear (Jun et al, 2020;Liao et al, 2015), most empirical studies have used conventional methods such as latent class analysis and logistic regression, which are unable to tackle the joint effects and nonlinear relationships among variables (Liao et al, 2015). Machine learning (ML) algorithms can address these limitations by tackling interactions among categorical and continuous variables with nonlinear relationships and generating better accuracies even with large data sets comprising noisy data (Dineva & Atanasova, 2020;Medeiros et al, 2021;Wibrin et al, 2006). Thanks to the power of ML methods in solving complex problems (Chi-Hsien & Nagasawa, 2019;Choi & Lim, 2020;Orogun & Onyekwelu, 2019;Pantano & Dennis, 2019), we propose an innovative ML approach to analyse the complicated consumer behaviour of high involvement products such as housing choices by using the Australian housing market as the natural laboratory for this research.…”
Section: Introductionmentioning
confidence: 99%