Machine Learning Classification

Classify Who Will Default On Their Credit Card Payment using Python

Disclaimer: The material in this article is purely educational and should not be taken as professional advice.

In this article, I will attempt to predict if a person will default on their credit card debt or not using the python programming language and machine learning. This type of problem is a binary classification problem because I want to classify or predict one of two outcomes.

What is Binary Classification ?

“Binary classification is the task of classifying the elements of a set into two groups (each called class) on the basis of a classification rule”.- Wikipedia

The Machine Learning Process

For this problem I will:
1. Collect the data set that shows who defaulted on their credit card debt and who didn’t.
2. Next I will do some simple data cleaning.
3. After that, I will separate the data set into a training data set and a testing data set. The training data set will be the data used to train the model on and the test data set will be unseen data that the model has never seen before to help evaluate the model.
4. Use metrics to see how well the model performs.
5. Make predictions / classifications.