Want to Know about Estimation !

MunchCrunch19
MunchCrunch19 New Altair Community Member
edited November 5 in Community Q&A
What is the Difference B/w Estimation and Prediction? Could we Make Estimation with Rapid Miner? If So, How can we do that?
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Best Answer

  • IngoRM
    IngoRM New Altair Community Member
    Answer ✓
    Hi,
    The term "estimation" is used in our field at least for three (probably much more) different things, two of them make more sense in the context of this question:
    1. estimation of model parameters, e.g. the coefficients of a regression model
    2. estimation of distribution parameters, e.g. fitting a given distribution to a data set
    3. estimation of model performance, e.g. with a cross validation
    Without knowing more about what you are after, I would say that No 3 does not make a lot of sense in the context of this question.  But RM can do it easily :)
    No 1 is one of the key strengths of RM but we typically do not call it "estimation" but simply model training.  The result is a prediction model so if you mean this type then they are the same.
    No 2 is not a natural strength of RapidMiner but you can easily include a couple of lines or R code to achieve this.
    Hope this helps,
    Ingo

Answers

  • IngoRM
    IngoRM New Altair Community Member
    Answer ✓
    Hi,
    The term "estimation" is used in our field at least for three (probably much more) different things, two of them make more sense in the context of this question:
    1. estimation of model parameters, e.g. the coefficients of a regression model
    2. estimation of distribution parameters, e.g. fitting a given distribution to a data set
    3. estimation of model performance, e.g. with a cross validation
    Without knowing more about what you are after, I would say that No 3 does not make a lot of sense in the context of this question.  But RM can do it easily :)
    No 1 is one of the key strengths of RM but we typically do not call it "estimation" but simply model training.  The result is a prediction model so if you mean this type then they are the same.
    No 2 is not a natural strength of RapidMiner but you can easily include a couple of lines or R code to achieve this.
    Hope this helps,
    Ingo

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