5 Steps to Maximize Business Impact with Machine Learning

Regardless of the metric you decide to optimize, it's necessary to establish a baseline measure of performance. This baseline provides a point of comparison that enables you to track your progress. It also allows you to judge the rate of return you'll get by increasing the complexity of your modeling solution. Suppose you work for a real estate firm and are asked to build a model to predict the price of a house. You decide to optimize for RMSE and build a linear regression model with features including the square footage of the house, the number of bedrooms and bathrooms, and other information.