Machine learning and statistics: a matter of perspective

Abstract

Information has become an important commercial commodity-indeed, possibly the most important product of the future. While we have well-developed technologies to store data, the analysis to extract information is time-consuming and requires skilled human intervention. Machine learning algorithms augment statistical analysis by providing mechanisms that automate the information discovery process. These algorithms also tend to be more accessible to end-users and domain experts. The two analysis methods are converging, and the fields have much to offer each other.