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Frequently Asked Questions
What factors should be considered while choosing predictive modeling techniques?
Here are some factors that should be considered when choosing predictive modeling techniques:
What does your target variable look like?
Is there any issue with the computational performance?
Do you plan to update your model with new data?
Is your data linearly separable?
Can your dataset fit into memory?
How to measure prediction accuracy?
The prediction accuracy is measured by dividing the correct number of predictions with the total number of predictions. It provides an accurate prediction percentage.
How to judge the model quality?
We can leverage residuals to judge the quality of a model.