Simply Salford Blog

How to Interpret Model Performance with Cost Functions

Posted by Salford Systems on Fri, Apr 15, 2016 @ 07:00 AM

Cost functions are used to evaluate model quality, as they are directly related to the performance of machine learning and predictive analytics models. The problem you are trying to solve should dictate which cost function you use to analyze your model. In this ten part video series, we cover the importance of cost functions, how they are used, and how they relate to model performance.  

 

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Watch the rest of the videos in this series here!

 

Topics: cost functions, logistic function, binary classification, log-likelihood, recall, least squares deviation, huber estimator, precision, ROC curve, gain and lift charts, multinomial classification, expected cost