accuracy-metrics

Vocabulary Word

Definition

'Accuracy Metrics' are basically benchmarks or standards that we use to measure how correctly or accurately a task is performed or how correct our predictions are.

Examples in Different Contexts

In machine learning, 'accuracy metrics' are used to evaluate the performance of models. A machine learning engineer might say, 'We rely on various accuracy metrics like precision and recall to assess our models.'

Practice Scenarios

Business

Scenario:

We've been seeing an uptick in positive feedback from our customers lately. They seem satisfied with the resolutions provided by our representatives.

Response:

Our current accuracy metrics show that customer issue resolution has indeed improved, which is reflected in customer feedback.

Scenario:

There is a marked improvement in our latest data model. It's been making more accurate predictions lately. What do you attribute it to?

Response:

The increase in accuracy metrics could be due to refined algorithms and additional training data used in building the model.