Statistical Concepts, Definitions and Tips

1.Text Mining
Text mining is the process of extracting information on a particular topic from a set of Documents. Text mining process is useful where the data is in the form of Text (Document) which may be structured or unstructured and cannot be processed using the traditional methods such as Data mining methods. Text mining is different from normal search queries as it also useful in discovering the unknown information form the set of documents. Text mining uses the process called natural language processing which
2.Importance Sampling
importance sampling is used to estimate parameters of a given distribution from the samples generated from a different distribution. Importance sampling is used to reduce the variance in the estimated parameter
3.Neural Network
Concept of Neural network is defined from the biological systems Neuron structure. Neural networks have similar properties of Neuron structure wherein the Neuron receives information from the object called Dendrites and sends the processed information through the object called Axon which is a long stem kind of structure to the next Neuron. Learning happens during this process and the same process of processing, learning and passing the information continues A typical neural network as similar to Neurons consists of an input nodes, hidden nodes and output nodes. The hidden nodes process the weighted information from the input nodes by summing the weighted information and send the converted information to output nodes. Neural Networks requires data sets to train, validate and test the models. Application of Neural Networks can be found in fields such as clinical research, financial research and marketing research. Neural Network is based on nonlinear approach and is useful for predictive modelling, pattern recognition like predicting the probability of occurrence of a disease given the symptoms or probability of a customer repaying the loan given the customer characteristics