Machine Learning Meets Economics

The business world is full of streams of items that need to be filtered or evaluated: parts on an assembly line, resumés in an application pile, emails in a delivery queue, transactions awaiting processing. Machine learning techniques are increasingly being used to make such processes more efficient: image processing to flag bad parts, text analysis to surface good candidates, spam filtering to sort email, fraud detection to lower transaction costs etc. In this article, I show how you can take business factors into account when using machine learning to solve these kinds of problems with binary classifiers.

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