"Data Science for Business" book review/ discussion with author Foster Provost and Product Managers - Jan 2022
Product Book Club
00:00
The Expected Value Framework for Building Products with Predictive Analytics
The speakers discuss the main takeaway from the book, which is the expected value framework for building products with predictive analytics. They highlight the common mistake of only applying standard machine learning evaluations and not considering if the solution can solve the business's problem. The expected value framework helps address this by considering the probabilistic nature of predictive analytics and using probabilities to compute the expected value of different outcomes.
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