What is outlier detection?
An example of an AI chatbot conversation about outlier detection in data analysis.
What is outlier detection?
Outlier detection is the process of identifying data points that differ significantly from the rest of the dataset.
Why is outlier detection important?
It's important because outliers can skew results and lead to incorrect conclusions in data analysis.
What methods are commonly used for outlier detection?
Common methods include statistical tests, clustering, and machine learning algorithms like Isolation Forest.
Can you give me an example of outlier detection in real life?
Sure! In finance, detecting fraudulent transactions is a common application of outlier detection.
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