I am trying to understand,

- what a model is in the field of analytics and what constitutes the same and how can it be achieved?
- Tools, techniques that are used for building a model.
- Also, what exactly is achieved when one builds a “Model”.

Thanks,

I am trying to understand,

- what a model is in the field of analytics and what constitutes the same and how can it be achieved?
- Tools, techniques that are used for building a model.
- Also, what exactly is achieved when one builds a “Model”.

Thanks,

Hi @akash9129,

A model is simply an equation depicting the relationship between y and x’s or your dependent and independent variables.

Consider for example the below data:

I want to see how can I predict the next value of y using this data.Since these are continuous variables linear regression will be used.

The code for doing the same in R:

```
lm <- lm(y ~ x,data)
```

this will fit a line though your data like:

and if you see the output of the model it is:

```
> lm
Call:
lm(formula = y ~ x, data = df)
Coefficients:
(Intercept) x
1.5698 0.0407
```

What this means is y = 1.5698 + 0.0407x.

As you can see you can now predict y using the value of x.

This is a very simple explanation of what a model is and how it can be used.

You can look here for a better understanding.

Hope this helps!!

Thank you! The link you have provided says ‘Error’. Is there a good collection of materials that covers the basics of what type of models must be used to what etc?