In statistics, to increase the prediction accuracy and interpret-ability of the model, LASSO (Least Absolute Shrinkage and Selection Operator) is extremely popular. It is a regression procedure that involves selection and regularisation and was developed in 1989. Lasso regression is an extension of linear regression that uses shrinkage. The lasso imposes a constraint on the sum of the absolute values of the model parameters. Here the sum has a specific constant as an upper bound.
Regression analysis is a statistical tool to study the relationship between variables. These variables are the outcome variable and one or more exposure variables. In other words, regression analysis is an equation which predicts a response from the value of a certain predictor.