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ML Model Performance Metrics

Rory Donovan
January 20, 2023

Over View

ML models should be tested and optimized to ensure the model accurately fits the data or if the model is overfitting/underfitting the data. If the model begins to drift, then errors can occur. Therefore, ML models should be monitored to guarantee error-free measurements.

Before Training Models

Before starting a project, developers should thoroughly investigate the potential risks using a risk assessment tool such as failure-mode analysis. They should also begin to report on their data and data collection processes.

Risk Assessment: Pre-design risk assessment is critical because AI risks are unfamiliar, and the technology’s powerful nature entails new responsibilities for those who use it. As a result, staying current on best practices and tools is critical.

Data Collection

It refers to capturing as much diverse data and assembling as many diverse data sets as possible for data analysis and identifying patterns. Therefore, data gathering should be the first initiative for an organization. The patterns that are identified should be used to predict ML models.

Data Quality Management

Maintaining credible, accurate, and relevant data is essential to organizations and the field of ML. Quality data can be managed by ensuring that your data follow these parameters:

· Purposed-driven and intended for specific use cases

· Data should improve the intellect of the ML model through training

· Decision-making should be made easier and faster

Data reporting

Identify and report the required data types and why and how they will be prepared and used. Details about collection methods, demographics from which it will be collected, and tools for gathering it should be included in the preparation. The processing methods that will be used to make the data suitable for training algorithms should also be included in the practice should also include the processing methods that will be used to make the data relevant for training algorithms.


It seeks to improve ML models and algorithms by using a variety of “diverse” data that is used to train ML models.

Proper Training

Properly training ML models involve having diverse training data for the model to learn from. Training data should have parameters to get acceptable ML model outputs in the training process:

· Optimal model size

· Optimal examination of data

· Data shuffling

· Calibration techniques

During Model Development

Developers should report on their model creation decisions throughout each project. Additionally, people should be rewarded for identifying potential system flaws. Problems should be documented and determined, with someone signing off on each decision to ensure traceability and accountability in the development process.

Document Model

This identifies the model used for the project and explains why that model was chosen. It would include providing information such as:

· The current version and a description of the version control method. What machine-learning process do you employ (for example, ANN, GPT-3, BERT, Xception)?

· Identify any fairness criteria that have been incorporated into the model (e.g., preprocessing-stage data weighing)

Other Reporting

Each project’s timeline should be structured so that time is set aside for regular meetings in which team leaders encourage members to share information about potential problems and actively seek solutions.

After Each Model Deployment

Analytical evaluations must be performed following development, preferably by an unbiased observer. The analysis is shown below.

Conduct Human-Rights Assessments

Create, share, and use various tools to reinforce privacy standards, identify bias, and improve data and network security, all while comparing performance metrics to evolving standards.

Combat Data Drift

Data drift manifests itself in various ways, each of which should be understood so that mitigation measures can be implemented. Changes in the distribution of input or target variables, as and the relationship between these, occur over time. This drift can be avoided by keeping an up-to-date data pool, scheduling regular model check-ups, using standard data input methods, and following consistent patterns with training models.

Monitor Performance Changes

This happens due to data drift, which changes the input and target variables and the relationship the algorithm is expected to maintain. However, changes can also occur due to black swan events, which are unusual events that are not representative of typical trends and often happen unexpectedly. To keep the models performing well, developers should look for ways to use data to identify parameters that could indicate a future black swan event.

Perform Third-party Audits

Project managers should ensure that after each project, a third-party audit of the algorithms, data usage, and overall, AI systems are performed (for bias, security, etc.). Throughout the process, the importance of data and model documentation becomes apparent, as these documents will aid in the auditing process.

Reward Feedback

Developers should strive to improve the accuracy and efficiency of the model. This means that team. Team members and the community should be rewarded for identifying biases and errors. This includes monetary rewards or bounties for detecting inequity.

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