Inquiry Response: Using PSI to Monitor Models in Production

Inquiry:

We’re implementing a model accuracy monitoring process for our forecast models to find out when they’re no longer effective and why. Do you have any recommendations?

Response:

THE BIG IDEAS:

  • Input factors
  • Retraining
  • Model comparison

INPUT FACTORS

The factors that go into models can affect model performance. A common cause for model degradation is that a signal gets turned off because someone changes a data format in the data warehouse or decides a variable is no longer necessary.

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