machine learning Classification of the modelling techniques (Adapted from Giustolisi et al. 2007)

machine learning

1. Introduction 7/10/2024 1 Classification of the modelling techniques (Adapted from Giustolisi et al. 2007) Referring to this figure, white-, black-and grey-box models are three main categories for mathematical modelling. If the variables and parameters are known and the model is based on first principles (e.g. laws of physics), then it is possible to explain the underlying physical relationships of the system. Such models are classified as white-box models. Black-box methods explore the relationships between the input and output data without providing a feasible structure of the model. Conceptual methods that do not only identify the existing patterns between the data but also provide a mathematical structure of the model belong to the grey-box category. AI derivatives

2. Introduction 7/10/2024 2 Classification of the modelling techniques (Adapted from Giustolisi et al. 2007) Referring to this figure, white-, black-and grey-box models are three main categories for mathematical modelling. If the variables and parameters are known and the model is based on first principles (e.g. laws of physics), then it is possible to explain the underlying physical relationships of the system. Such models are classified as white-box models. Black-box methods explore the relationships between the input and output data without providing a feasible structure of the model. Conceptual methods that do not only identify the existing patterns between the data but also provide a mathematical structure of the model belong to the grey-box category. AI derivatives

3. Introduction 7/10/2024 3 Classification of the modelling techniques (Adapted from Giustolisi et al. 2007) Referring to this figure, white-, black-and grey-box models are three main categories for mathematical modelling. If the variables and parameters are known and the model is based on first principles (e.g. laws of physics), then it is possible to explain the underlying physical relationships of the system. Such models are classified as white-box models. Black-box methods explore the relationships between the input and output data without providing a feasible structure of the model. Conceptual methods that do not only identify the existing patterns between the data but also provide a mathematical structure of the model belong to the grey-box category. AI derivatives