Model Criteria

Model criteria are the standards used to evaluate how well a predictive or analytical model performs. They help determine whether a model is accurate, reliable, and useful for making decisions. Common criteria include measures of accuracy (how close predictions are to actual outcomes), robustness (ability to handle different data), and simplicity (ease of understanding and use). By applying these criteria, analysts ensure the model is suitable for its purpose and provides trustworthy insights, ultimately supporting better decision-making based on data.