Lift Chart

A Lift Chart is a graphical tool used to evaluate the performance of a predictive model, particularly in marketing and risk management. It compares the model's predictions against actual outcomes. The chart displays how much better the model performs compared to random guessing. Essentially, it shows how well a model can identify a desired group (like potential customers) compared to the overall population. A higher lift indicates that the model is effective in targeting those individuals, making it a valuable resource for decision-making in various fields.