What is classification in finance?
An example of an AI chatbot conversation about classification in finance.
What is classification in finance?
Classification in finance refers to the process of categorizing financial data into different classes or groups to facilitate analysis.
Can you give me some examples of classification techniques used in finance?
Sure! Common techniques include logistic regression, decision trees, and support vector machines.
How is classification used in credit scoring?
In credit scoring, classification models predict whether a borrower is likely to default based on their financial history and characteristics.
What are the benefits of using classification in financial analysis?
Benefits include improved decision-making, risk assessment, and the ability to identify trends and patterns in financial data.
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