Evaluation

With the evaluation process, the main goal is to confirm that the work that has been done and the model selected at this point meets the business objective. Ask yourself and others, have we achieved the definition of success? Let the Netflix prize serve as a cautionary tale here. I'm sure you are aware that Netflix awarded a $1 million prize to the team that could produce the best recommendation algorithm as defined by the lowest RMSE. However, Netflix did not implement it because the incremental accuracy gained was not worth the engineering effort! Always apply Occam's razor. At any rate, here are the tasks:

  1. Evaluate the results
  2. Review the process
  3. Determine the next steps

In reviewing the process, it may be necessary—as you no doubt determined ...

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