This guide provides an intuitive overview of 4 common metrics used to evaluate machine learning classification models: accuracy, recall, specificity, and precision. Introduction A binary classifier (test, algorithm, etc.) tries to categorize observations into one of...
Business Intelligence
In Numbers We Trust: The Making of Stratus Jackets
“It’s so wonderfully Derek,” says Pensig of the ordeal. Stratus Data began with only two Founding Partners, Derek Chang and Charles Pensig. But it wasn’t long before a rapidly growing base of clients, teammates, and sundry fans occasioned the need for an official...
Predicting Customer Retention: A Probabilistic Approach
A key metric for success At the heart of any business model is the concept of retention rate, the fraction of customers remaining at a given point in time. It’s a measure of how valuable your product or service is to your customers—the more valuable your product, the...
Data Science, Terms of Service
Misunderstandings often come from presumption (a person assumes a word or concept means the same thing to another person), and its predecessor, fear (because asking for clarity can imply you don't know or don't understand, which is usually untrue). Definitions are...