Characteristics of an Ideal ML Model: How to Choose & Why

How To Go Ahead With Model Selection And Why To Choose Any Specific Model

There are many factors to consider when choosing a machine learning model. The most important factor is accuracy- the model should accurately predict the target variable. Other factors to consider include:

1. The complexity of the model
2. How easy it is to interpret the results
3. Whether it generalizes well to new data
4. How well it performs on training data

Each type of model has different strengths and weaknesses, so you need to decide which type of model will work best for your data and your goals. You might even need multiple models to get accurate predictions in some cases.

The following sections discuss each type of model in more detail.

1. Linear regression is a simple linear model that predicts y values based on a linear combination of x values. It's useful when you have continuous data and want to model the relationship between two variables (e.g., how much one variable affects another).
2. K-nearest neighbors (aka KNN) is an instance-based model that predicts y values based on the k most similar instances in training data. It's useful when you need to classify items into discrete categories, such as "spam" or "not spam" messages in email filtering systems.
3. Decision trees are hierarchical models that learn decision rules for classifying items into discrete categories, such as the types of animals found in nature. They work well with structured data like customer information but may not be as effective on unstructured data like images or text.
4. Random forests are ensembles of decision trees that can model complex relationships between variables by combining multiple simple rules learned from training data. They're helpful when you want to model non-linear relationships between variables, such as the relationship between height and weight in humans (taller people tend to weigh more than shorter ones).
5. Naive Bayes is a probabilistic model that makes predictions based on probabilities of different outcomes given specific evidence, such as whether it's raining outside today or not. It works well with categorical data but may not be effective for continuous values like temperature readings from sensors over time because these don't follow normal distributions very closely at all times, leading to inaccurate results if used improperly.
6. Support vector machines learn decision boundaries that maximize the distance between categories of data points in training sets, which makes them helpful in classifying items into discrete categories like spam emails versus not-spam ones based on text content or images where there is some sort of distinguishing feature between two classes (e.g., color). They work well with structured data but can be computationally expensive when dealing with many features due to their high dimensionality space requirements. 

This may limit their applicability in real-world applications such as medical diagnosis systems. Patient health records must be analyzed quickly without delay due to processing time constraints from heavy computation loads placed upon hardware devices running these algorithms.