A linear regression method that uses L1 regularization to set some weights to zero.
Lasso is a strict closet clean-out. If a shirt never gets worn, it gets booted from the drawer.
It keeps strong inputs and pushes weak ones to zero. You meet it in messy spreadsheets with many columns and not many rows.
Regularization
Lasso is a regularization method that uses a constraint to avoid overfitting.
Regression
Lasso is often used for regression, especially to pick useful variables.
Parameter
Lasso can push some parameters to zero, so weak inputs get removed.
Bias-Variance Tradeoff
Lasso adds bias to reduce variance.