In the terminology of machine learning, classification is considered an instance of supervised learning, i.e. learning where a training set of correctly identified observations is available.
An algorithm that implements classification, especially in a concrete implementation, is known as a classifier.
Knowi currently support 4 different classifiers:
As an example, to predict whether a client will default on their next payment period based on their prior payment behaviour:
- download and use the data from UCI Machine Learning Repository. This dataset contains 30,000 client Credit Card data with 24 attributes including:
- Personal characteristics such as age, education, gender, and marital status
- Credit line limit information
- Billing/payment history for the 6 months period from April to September of 2005
- navigate over to our Workspaces page and you will be lead through all the necessary steps to create your model.