Understanding Lasso Regression: A Key Tool in Machine Learning As machine learning continues to evolve, professionals across industries are increasingly leveraging its tools to glean insights from data and make informed decisions. Among these tools, **Lasso Regression** stands out for its ability to enhance prediction accuracy and interpretability in models. But what exactly is Lasso Regression, and how can it benefit your data analysis projects? Let’s break it down in simple terms. What is Lasso Regression? Lasso Regression, short for Least Absolute Shrinkage and Selection Operator, is a type of linear regression that performs both variable selection and regularization. The main goal of Lasso Regression is to enhance the prediction accuracy and interpret ability of the statistical model it produces. Lasso (Least Absolute Shrinkage and Selection Operator) regression typically belongs to regularization techniques category, which is usually applied to avoid overfit...