(kdnuggets.com) Machine Learning, Statistical modeling and Predictive Analytics have been around for a long time but the hype is right now due to rise of social media in the last decade. Tera bytes and Peta bytes of digital data is being created on a daily basis. This data contains a lot of hidden stories and insights, implementing a business feature or solution using those can be beneficial to its owners. But it is impossible for humans to read through that much data manually and derive insights. This is where machine learning comes in handy. Ok, so what is Machine Learning? In simple technical terms, it is training a statistical algorithm/model with historic data and using that model to predict outcome of new or unseen data. Machine Learning can be categorized into 2 high level groups. Supervised Learning Unsupervised Learning. Supervised Learning In supervised learning, each entry in dataset…