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What are some ways to handle an imbalanced dataset?

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An imbalanced dataset has skewed class proportions in a classification problem. Some of the ways to handle this include:

  • Collecting more data
  • Resampling data to correct oversampling or other imbalances
  • Generating samples with the Synthetic Minority Oversampling Technique (or SMOTE)
  • Testing various algorithms that include resampling in their design, like bagging or boosting
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