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What are best practices for Model Interpretability in Predictive Models

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When working with Model Interpretability in Predictive Models, start with a clear goal, test on real data early, keep the approach as simple as possible at first, and follow established practices from the AI community rather than guessing.
Real-world example A bank needs strong model interpretability to explain to regulators exactly why a loan application was denied by their predictive model.

Common follow-ups: What is Predictive Modeling, How is Model Interpretability in Predictive Models evaluated in practice, What tools are commonly used for Model Interpretability in Predictive Models

Predictive Modeling topics: Introduction to Predictive Modeling Time Series Forecasting Regression-Based Prediction
All 7 Model Interpretability in Predictive Models questions