Question taken from: Shape Science, blog on data science and algorithms
- Type of task: regression? Classification?
- Business goal?
- What is the distribution of the target variable?
- What metric do we optimize for?
- Regression: RMSE (root mean squared error), MAE (mean absolute error), WMAE(weighted mean absolute error), RMSLE (root mean squared logarithmic error)…
- Classification: recall, AUC, accuracy, misclassification error, Cohen’s Kappa…
If you want to visually remember the definitions of precision and recall, check out this quora answer by Jason T Widjaja: https://www.quora.com/What-is-the-best-way-to-understand-the-terms-precision-and-recall/answer/Jason-T-Widjaja?srid=uWIN
precision and recall