Your “Best” Model May Not Be Good: A Business-centric Model Selection Strategy
Thursday, November 16, 2023
Predictive modelers love building lots of models and then selecting the best model to deliver to the stakeholder. Popular metrics for model assessment and selection include R^2 and classification accuracy. Most often, however, the business doesn’t care about these and analysts may miss deploying the best models for the business. In this talk, a methodology for finding business-centric metrics will be explored so that the effectiveness of the models is significantly improved.