From Mind MattersThe two main modifications of machine learning compared to typical statistical regression analysis is that (1) the quantities of data are huge, and (2) there is less reliance on the computer operator’s own understanding of statistics. So the “interface” to building and using the model is more straightforward and less reliant on the user understanding advanced statistics.
In summary, machine learning is not a new technique but is simply a modern extension of a tool that we have had in our toolbox since the days of the Babylonians. It continues to serve us well to help us extrapolate our data to estimate the value of unknown results and to help find the signal in noisy data.
