importance comparison to other regression between these regression
What exactly the best point of these ridge and lasso regression other than linear and logistic regression? why should we use them instead of linear and logistic? is the one modern types of regression used to solve the modern problem that can't solve with the linear and logistic regression? please, clarify me on this.
Hi and thanks for reaching out!
Ridge and lasso regressions are regularization techniques aiming to prevent overfitting. Therefore, in case the data we're working on might suffers from such an issue, a good way to deal with it would be to use ridge or lasso instead of simple linear regression. What often happens is to start working with linear regression and then apply ridge or lasso in order to obtain better and more informative results.
Hope this helps.
Best,
Ivan