Supervised and unsupervised learning: approaches and approaches to machine learning

The areas of application for machine learning are very broad and have already found their way into our everyday lives. Classification procedures are used to automatically filter spam emails, predict customer churn, segment customers and detect fraud.
Furthermore, regression methods are used for price predictions and are used in risk management. The widespread purchase recommendations and individual suggestions, for example for music and film titles, also use processes from machine learning. Although these areas of application are very diversified, there are essential and common steps in building appropriate models.