How to align my mathematical equation in Latex

Something like this?

Note that I've replaced { and } with \biggl\{ and \biggr\}, respectively. I've also replaced max and log with \max and \log.

\documentclass[twocolumn]{IEEEtran} % ??
\usepackage{amsmath}
\begin{document}

\begin{equation} \label{eq7}
\begin{split}
I(W;G) &= \biggl\{ \sum_{g\in G} 
\max \bigl(P_{WG}(W,G),0.001\bigr) \biggr\} \\
&\qquad\times \log\frac{P_{WG}(W,G)}{P(G)P(W)}
\end{split}
\end{equation}

\end{document}

\documentclass[twocolumn]{IEEEtran} 
\usepackage{amsmath}
\begin{document} 

\begin{equation} \label{eq7}
\begin{aligned}
  & I(W;G) = \\
  & \sum_{g \in G}^2 \max \bigl\{P_{WG}(W,G),0.001\bigr\} \times \log \frac{P_{WG(W,G)}}{P(G)P(W)}
\end{aligned}
\end{equation}

\end{document}