#38 Machine Learning Engineering for Production (MLOps) Specialization [Course 1, Week 3, Lesson 14]

TL;DR

Learn how to evaluate the technical feasibility and value of a project using benchmarks, predictive features, and project history.

Transcript

in the last video you heard about the step of assessing a project for technical feasibility and for value let's take a deeper look at how you can carry out this diligent step to figure out if a project really is feasible and also how valuable it really is let's start with feasibility is this project idea technically feasible before you've started o... Read More

Key Insights

• 📽️ External benchmarks, such as competitor achievements, can provide valuable insights into the technical feasibility of a project.
• ⚾ Human level performance benchmarks can help determine the feasibility of tasks for learning algorithms based on human capabilities.
• 📽️ The availability of predictive features is essential for assessing the technical feasibility of projects, as they indicate the potential success of predicting outcomes accurately.

Questions & Answers

Q: How can external benchmarks help in assessing the technical feasibility of a project?

External benchmarks, such as research literature or competitor achievements, provide a quick sense of whether a project is technically feasible based on successful implementations by others.

Q: How can human level performance benchmarks aid in evaluating project feasibility?

Human level performance benchmarks involve comparing a human's ability to perform a task with the same data as a learning algorithm to determine if the task is feasible for the algorithm.

Q: Why is the availability of predictive features essential in assessing technical feasibility for projects?

Predictive features that show a strong correlation with the target output are crucial for assessing technical feasibility, as they indicate the potential success of the project in predicting outcomes accurately.

Q: How can the history of a project help predict future progress and feasibility?

The rate of progress in a project's history can serve as a predictor for future improvements, allowing teams to estimate the feasibility and success rate of ongoing projects based on past performance.

Summary & Key Takeaways

• Assessing the technical feasibility of a project involves using external benchmarks, such as research literature or competitor achievements, to determine if similar projects have been successful.

• A matrix is presented to evaluate feasibility based on structured versus unstructured data and whether the project is new or existing.

• Project feasibility can also be assessed using human level performance benchmarks, the availability of predictive features, and the project's historical progress.