ML algorithms can be primarily classified depending on the presence/absence of target variables.
A. Supervised learning: [Target is present]
The machine learns using labelled data. The model is trained on an existing data set before it starts making decisions with the new data.
The target variable is continuous: Linear Regression, polynomial Regression, quadratic Regression.
The target variable is categorical: Logistic regression, Naive Bayes, KNN, SVM, Decision Tree, Gradient Boosting, ADA boosting, Bagging, Random forest etc.
B. Unsupervised learning: [Target is absent]
The machine is trained on unlabelled data and without any proper guidance. It automatically infers patterns and relationships in the data by creating clusters. The model learns through observations and deduced structures in the data.
Principal component Analysis, Factor analysis, Singular Value Decomposition etc.
C. Reinforcement Learning:
The model learns through a trial and error method. This kind of learning involves an agent that will interact with the environment to create actions and then discover errors or rewards of that action.