Standard Modelling Development Update - Q4 2022
The concepts, charts and measures available for behavioural modelling are also available for standard modelling. Since there is no concept of "evaluation" in standard modelling, the insight definitions are all based on training data alone. This represents a change from previous release when evaluation data was used in some parts. The only chart not available in standard modelling is "Agreement PWE" since this comparesTraining and Evaluation timepoints.
Below is an example of the Insight PWE v Coverage (Dimensions) chart used for standard modelling.
The chart highlights some interesting points:
Demographic variables tend to be “broad” features with high coverage.
The Town variable (highlighted) has just a few insight categories, for example large towns such as London. It could be overlooked if only using Mean PWE but - as the chart below demonstrates - it stands out based on Insight PWE.
The transactional variables with default bandings are appearing as niche features. This is because most people are in the same band (and hence average) and only a few people, therefore, stand out as different).
The following charts show that the default banding makes Total Booking Cost a niche feature. This is due to there being just one majority category, and only a few people stand out as being different (below average).
Custom banding offers more balanced insight, with higher 100% coverage; everybody would be given some level of positive or negative score when banded in this way.
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