| Technique | Description | Real-Life Example |
| Resampling | - Oversampling: Increase the number of minority class samples. - Undersampling: Reduce the number of majority class samples. | Example: In fraud detection, where fraudulent transactions are rare, you can oversample the minority class to balance the dataset. Conversely, you can undersample non-fraudulent transactions. |
| Synthetic Data | Generate synthetic samples for the minority class using techniques like SMOTE (Synthetic Minority Over-sampling Technique). | Example: In medical diagnosis, when positive cases are scarce, generate synthetic data points to improve model accuracy. |
| Cost-Sensitive Learning | Modify the algorithm's objective function to penalize misclassification of the minority class more than the majority class. | Example: In healthcare, misdiagnosing a rare disease may be costlier, so the algorithm can be tuned to minimize such errors. |
| Ensemble Methods | Combine predictions from multiple models to improve performance, e.g., Random Forests, AdaBoost, or XGBoost. | Example: In credit scoring, ensemble methods can help balance recall and precision when dealing with rare default cases. |
| Anomaly Detection | Treat the minority class as anomalies and use anomaly detection algorithms like Isolation Forest or One-Class SVM. | Example: In network security, detecting rare intrusions among legitimate traffic patterns. |
| Change the Threshold | Adjust the classification threshold to increase sensitivity or specificity based on the problem's requirements. | Example: In email spam detection, lowering the threshold may increase the recall of spam emails. |
| Collect More Data | Sometimes, collecting more data for the minority class may be a practical solution if feasible. | Example: In manufacturing, if defective products are rare, collecting more data on defect cases can help. |
Got this during the execution of following command in R > dat Error: could not find function "read.xlsx" Tried following command > install.packages("xlsx", dependencies = TRUE) Installing package into ‘C:/Users/amajumde/Documents/R/win-library/3.2’ (as ‘lib’ is unspecified) also installing the dependencies ‘rJava’, ‘xlsxjars’ trying URL 'https://cran.rstudio.com/bin/windows/contrib/3.2/rJava_0.9-8.zip' Content type 'application/zip' length 766972 bytes (748 KB) downloaded 748 KB trying URL 'https://cran.rstudio.com/bin/windows/contrib/3.2/xlsxjars_0.6.1.zip' Content type 'application/zip' length 9485170 bytes (9.0 MB) downloaded 9.0 MB trying URL 'https://cran.rstudio.com/bin/windows/contrib/3.2/xlsx_0.5.7.zip' Content type 'application/zip' length 400968 bytes (391 KB) downloaded 391 KB package ‘rJava’ successfully unpacked and MD5 sums checked package ‘xlsxjars’ successfully unpacked ...
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