We're excited to say that we've added a new panel to your projects! Find Models after you've built a prediction model using the Models | Train & Predict analysis type.
Models is designed to help you understand more about the creation and performance of predictions models you build. You'll find three tabs - General - Training - Result - each containing distinct information about your model.
This information helps you unpick how your model was built, its strengths and weaknesses as well as how it performed in specific areas.
As the statistician, George E. P. Box wrote, "All models are wrong, but some models are useful." What he meant by that is that all models are simplifications of the universe, as they must necessarily be."
Nate Silver, The Signal and the Noise
Examining the mechanics behind a model is a crucial aspect of ensuring that it's application is appropriate. We've included references to the technology used to develop the model, descriptions of its primary use cases as well as notes from our team on its performance.
Evaluating a prediction model helps us to understand how good the model is. Using accuracy scores and other performance metrics, we get a sense of whether the model was able to make correct or inaccurate predictions. Not only this, but through evaluation of a model, we can understand how to improve it by changing its factors or parameters.
Prediction can be pretty complex at the best of times. We've written a few articles to help you get your head around the concepts key to Models.
Start here. This article walks you around the new Models panel - pointing out the different features and showing you how to use them.
Learn why and how to build models. Here, we explicate the process of building a prediction model in Graphext - considering the reasons for doing so alongside some of the key concepts involved.
Use as a dictionary to your Models panel. As well as explaining the usefulness of evaluating models, this article offers explanations for all of the technical terms used inside your project's Models panel.
How can I start using it?