Strategies for Dealing with Imbalanced Datasets
Now that we have identified the challenges of imbalanced datasets, let's look at strategies for combatting imbalanced datasets:
Collecting More Data
Having encountered an imbalanced dataset, one of the first questions you need to ask is whether it is possible to get more data. This might appear naïve, but collecting more data, especially from the minority class, and then balancing the dataset should be the first strategy for addressing the class imbalance.
In many circumstances, collecting more data, especially from minority classes, can be challenging as data points for the minority class will be very minimal. In such circumstances, we need to adopt different strategies to work with our constraints and still strive to balance our dataset. One effective strategy is to resample our dataset to make the dataset...