During the process of building a model or the models being used in production for real-world predictions, performance metrics are used to determine the correctness of the predictions over a period of time. The performance metrics differ from model to model but here are some of them for measuring the goodness of fit (GOF). For further details, please refer to https://www.mathworks.com/help/curvefit/evaluating-goodness-of-fit.html,
- SSE (Sum of Squares due to error)
- RMSE (Root Mean Squared Error)
- R- Square
