Interpreting Regression Models’ Outputs
Actual vs predicted values scatterplot
Learn how to interpret regression model outputs
If you want to turn your predictive models in a goldmine you need to know how to interpret the model quality assessment provided by DSS. It can get complicated because the error measure to take into account may depend on the business problem you want to solve. Indeed to interpret and draw most profit from your analysis you have to understand the basic concepts behind error assessment. And even more importantly, you have to think about the actions you will take based on your analysis.
In this post we will go through metrics given when you use a regression model in DSS and how to interpret them in terms of business application.