Random forest classifiers have a plethora of applications in the market today. Let’s go ahead and look at a few of them:
- In the field of banking, it is used to predict fraudulent customers
- Random forests are used to analyze the symptoms of patients and diagnose diseases
- In the ecommerce field, recommendation lists help predict purchases based on customer activity
- Analyze stock market trends to predict profit or loss using the random forest algorithm
Let’s now look at a few of the terms we need to know in order to understand the random forest algorithm.