The Best Approach To Unlock The Value From Your Datasets: Statistical Modelling or Machine Learning?

Title: The Best Approach To Unlock The Value From Your Datasets: Statistical Modelling or Machine Learning?

Authors: Dr Ciaran Ellis , Caroline Wallbank, Dr Mark Bell

Description: Choosing the best approach will save a great deal of time and money, and lead to better predictions, whether the question relates road safety, in-car experience or journey planning. There are therefore important questions to ask when comparing the different approaches of statistical modelling and machine learning; how do we know which approach to use for the best results for predictive modelling, and what are the main factors that influence this decision?

This paper aims to answer these questions, and presents some case studies examining applications of these techniques in the transport sector.

Publishing date: 2020

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