What is accuracy in SAP CEC-MKT-PRI - Recommendation?

SAP Term: accuracy

• Component: CEC-MKT-PRI

• Component Name: Recommendation

• Description: A metric of the error matrix also called confustion matrix. It is the proportion of predicted positive targets that were actually positive targets and predicted negative targets that were actually negative targets divided by all predictions. Calculation formula is:True Positive + True Negative/total. The degree to which the result of a measurement, calculation, or specification conforms to the correct value or standard.

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• Key Concepts: 
  Accuracy is a measure of how closely the results of a system or process match the expected results. In the context of SAP CEC-MKT-PRI Recommendation, accuracy is a measure of how accurately the system can predict customer preferences and recommend products that meet their needs. 
  
  How to use it: 
  The accuracy of the CEC-MKT-PRI Recommendation system can be improved by providing more accurate data about customer preferences and product characteristics. This data can be collected through surveys, customer feedback, and other sources. The system can then use this data to better understand customer needs and make more accurate recommendations. 
  
  Tips & Tricks: 
  To ensure accuracy, it is important to regularly review and update the data used by the CEC-MKT-PRI Recommendation system. This will help ensure that the system is using up-to-date information to make its recommendations. Additionally, it is important to regularly test the accuracy of the system by comparing its recommendations to actual customer purchases. 
  
  Related Information: 
  Accuracy is an important metric for any recommendation system, as it helps ensure that customers are receiving relevant and useful product recommendations. Other metrics that can be used to measure the effectiveness of a recommendation system include precision, recall, and F1 score.