Choosing a loss function is an important step in setting up a well-designed machine learning task. It’s a choice that requires domain and business context. It also often requires some amount of technical experience. Finally, it’s something you probably don’t want to change too often or at all.
So a up-front, somewhat irreversible decision that requires expertise and weigh-in from multiple disciplines. Super fun, right? Let’s talk about what goes into this kind of decision, what loss functions entail, and then how you can pick the best one. I’ll also have a list of common loss functions toward the bottom.
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