Introduction to Outlier Detection Methods

This post is a summary of 3 different posts about outlier detection methods. One of the challenges in data analysis in general and predictive modeling in particular is dealing with outliers. There are many modeling techniques which are resistant to outliers or reduce the impact of them, but still detecting outliers and understanding them can lead to interesting findings. We generally define outliers as samples that are exceptionally far from the mainstream of data.There is no rigid mathematical definition of what constitutes an outlier; determining whether or not an observation is an outlier is ultimately a subjective exercise. There are several approaches for detecting Outliers.