The World’s 12 Most Important Machine Learning Algorithms.
Do you know them all?
There are all kinds of algorithms that have applications on different businesses aspects.
Algorithm marketplaces, such as Algoritmia, can save data professionals time and money by providing them with over 800 different algorithms.
But, in the complex world of data processing there are no winning algorithms. Thus, buying an off-the-shelve algorithm from a marketplace with the aim to tweak it according to your business needs, might not be the best option.
In many cases, algorithms designed for a specific outcome may result in differently oriented output. Depending upon what you want with your data analytics, an algorithm might be better suited to you than the others for that particular situation. Most importantly, one should not think that simpler algorithms are bad or obsolete. So, focusing on gaining awareness about fundamentals of different algorithms, how they are developed and for what purpose can each be used, should be a priority.
Different variables can be used to determine the appropriate algorithm and how it will perform on the business problem. Variables include; data type, business industry, usage of this solution etc.
Below we have a useful infographic developed by Think Big Data that portrays 12 of the most common ML algorithms every data scientist should have in their repertoire. Each algorithm is segregated by its application intent.
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