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7. Monitor model

Models become less effective over time, so it is important to monitor models for potential decay or other issues.

7.1 Monitor model​

7.1.1 Create model monitoring plan​

Model developer or model engineer: Create a model monitoring plan. Document the Key Performance Indicators (KPIs) that you will monitor, their thresholds, and the frequency with which they will be monitored:









7.1.2 Execute and schedule model monitoring and KPIs​

Model developer or model engineer: Execute and schedule your model monitoring plan. Document or save the model's performance for the chosen KPIs. Repeat at each cadence.









7.1.3 Review project KPI thresholds​

Model owner: Review the project's KPI thresholds at the cadence that was deemed appropriate by your organization. If at any time the KPIs fail to meet one of the predetermined thresholds, choose one of the following steps:

The model no longer meets predetermined thresholds. What are the next steps?

  • Retrain models with new data. If selected, return to step 3.
  • Fine-tune the models with existing data. If selected, return to step 4.
  • Set a new champion model. If selected, return to step 5.
  • Update the project documentation. If selected, return to step 2.
  • End the workflow. If selected, depreciate the project and update step 2.1.1.
  • Move forward with the model. If selected, continue with step 7.1.2.