Train/Test
A method of splitting a dataset into two subsets: one for training a model and another for testing its performance. Fundamental for developing and evaluating machine learning models in digital product design.
23 topics found for:
“model evaluation”
RICE Scoring Model
A prioritization framework used in product management to evaluate features based on Reach, Impact, Confidence, and Effort. Crucial for making informed decisions about which product features to prioritize and develop.
Cross Validation
A statistical method used to assess the generalizability of a model to unseen data, involving partitioning a dataset into subsets for training and validation. Essential for evaluating model performance and preventing overfitting in digital product analytics.
Hallucination
In AI, the generation of incorrect or nonsensical information by a model, particularly in natural language processing. Important for understanding and mitigating errors in AI systems.
Reflexion
The process of self-examination and adaptation in AI systems, where models evaluate and improve their own outputs or behaviors based on feedback. Crucial for enhancing the performance and reliability of AI-driven design solutions by fostering continuous learning and improvement.
ROI
Return on Investment (ROI) is a performance measure used to evaluate the efficiency or profitability of an investment or compare the efficiency of different investments. Crucial for assessing the financial effectiveness of business decisions, projects, or initiatives.
Machine Learning Bias
Systematic errors in AI models that arise from the data or algorithms used, leading to poor outcomes. Important for ensuring fairness and accuracy in AI systems.
Cost-Benefit
An analysis comparing the costs and benefits of a decision or project to determine its feasibility and value. Important for making informed business and design decisions.
Annual Recurring Revenue
A metric that shows the revenue that a company can expect to receive annually from its customers for subscriptions or services. Essential for understanding business performance and growth potential.
Business Viability
The potential for a project or solution to be economically sustainable and profitable. Important for ensuring that design and development efforts align with business goals and market demands.
Lead Scoring
The process of ranking leads based on their perceived value to the organization. Useful for prioritizing sales efforts and improving conversion rates.
MRR
Monthly Recurring Revenue (MRR) is a metric that quantifies the predictable revenue generated each month from customers. This metric is crucial for SaaS companies to track financial health and growth.
Ethical AI Maturity Model
A framework for assessing and improving an organization's ethical practices in the development and deployment of AI. Important for ensuring that AI systems are developed responsibly and ethically.
ICE Scoring Model
Impact, Confidence, and Ease of implementation (ICE) is a prioritization framework used in product management to evaluate features. Essential for making informed and strategic decisions about feature development and prioritization.
RLHF
Reinforcement Learning from Human Feedback (RLHF) is a machine learning technique that uses human input to guide the training of AI models. Essential for improving the alignment and performance of AI systems in real-world applications.
Last Touch
The final interaction a customer has with a brand before making a purchase. Important for understanding which touchpoints drive conversions.
Regressive Bias
A cognitive bias where individuals overestimate the likelihood of extreme events regressing to the mean. Crucial for understanding decision-making and judgment under uncertainty.
CPOO
Cost Per Objective Option (CPOO) is a metric used to measure the cost efficiency of different marketing options based on achieving specific objectives. This metric is crucial for optimizing marketing spend and measuring campaign effectiveness.
ARPA
Average Revenue Per Account (ARPA) is a metric used to measure the average revenue generated per user or account. Crucial for understanding and optimizing revenue streams in subscription-based businesses.
Standard Deviation
A statistical measure that quantifies the amount of variation or dispersion of a set of data values. Essential for understanding data spread and variability, which helps in making informed decisions in product design and analysis.
ROAS
Return on Advertising Spend (ROAS) measures the revenue generated for every dollar spent on advertising. Essential for assessing the effectiveness and profitability of marketing campaigns.
STEEPLE Framework
Social, Technological, Economic, Environmental, Political, Legal, and Ethical (STEEPLE) is an analysis tool that examines the factors influencing an organization. Crucial for comprehensive strategic planning and risk management in product design.
Portfolio Management
Portfolio Management is the process of overseeing and coordinating an organization's collection of products to achieve strategic objectives. Crucial for balancing resources, maximizing ROI, and aligning products with business goals.