Evaluation Metrics

Evaluation metrics are used to measure the quality of the statistical or machine learning model. Evaluating machine learning models or algorithms is essential for any project. There are many different types of evaluation metrics available to test a model. These include classification accuracy, logarithmic loss, confusion matrix, and others. Classification accuracy is the ratio of the number of correct predictions to the total number of input samples, which is usually what we refer to when we use the term accuracy.