Practical Business Analytics Using R and Python: Solve Business Problems Using a Data-driven Approach

© Umesh R. Hodeghatta, Ph.D and Umesha Nayak 2023

U. R. Hodeghatta, U. NayakPractical Business Analytics Using R and Pythonhttps://doi.org/10.1007/978-1-4842-8754-5_6

6. Evaluating Analytics Model Performance

Umesh R. Hodeghatta¹   and Umesha Nayak²

(1)

South Portland, ME, USA

(2)

Bangalore, Karnataka, India

 

There are several ways to measure the performance of different models. This chapter discusses the various measures to test a model’s performance, including regression, classification, and clustering methods.

6.1 Introduction

After we create a model, the next step is to measure its performance. We have different measures for classification models and different measures for regression models. Evaluating a model’s performance is a key aspect of understanding ...