From the course: Advanced Python in Excel: Machine Learning
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Automated decision-making processes
From the course: Advanced Python in Excel: Machine Learning
Automated decision-making processes
- [Instructor] Automated decision making processes is one of the things that the finance industry hopes to achieve. By leveraging machine learning, we can start creating systems that make data-driven decisions without human intervention. One key application is algorithmic trading. Here, automated systems make trading decisions based on predefined criteria and market data, executing trades at optimal times to maximize returns. Another area is credit scoring. In here, machine learning models can assess an applicant's credit worthiness by analyzing various data points. This automates the approval or rejection process with high accuracy. Implementing automated decision making process requires careful consideration of data quality and model governance. Ensuring accurate and unbiased data is crucial for reliable decisions. Transparency in these decision making is really important. It's essential to understand how models arrive at their conclusions, and we need to ensure models align with…
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