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EPJ Data Science
Figure 2 | EPJ Data Science

Figure 2

From: Quantifying decision making for data science: from data acquisition to modeling

Figure 2

Predictions to dollar value: incoming instances are predicted upon and each misprediction costs a particular dollar amount. This dollar amount’s discounted value over time can be computed using its NPV. Each of these discounted values contribute towards modifying the underlying model for the next batch of incoming instances. This feedback mechanism strives to continuously improve the prediction model.

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