This model is used by many businesses to interpret certain results and to see how a business model performs at times. It compares a certain model to a random pick in order to analyze its performance. There is a gains curve that shows which targets are reached, which is cumulative. The graph itself is a percentage of the sample versus the gains.
How could this be applied to oil
Honestly, there is still a lot of research to be done to understand this model and how to interpret it. But it does seem promising and could be a useful model to see the effectiveness of features, or could be something we use to assess our models.
Where is this model used
Business/Finance
What is this model
This model is used by many businesses to interpret certain results and to see how a business model performs at times. It compares a certain model to a random pick in order to analyze its performance. There is a gains curve that shows which targets are reached, which is cumulative. The graph itself is a percentage of the sample versus the gains.
How could this be applied to oil
Honestly, there is still a lot of research to be done to understand this model and how to interpret it. But it does seem promising and could be a useful model to see the effectiveness of features, or could be something we use to assess our models.