The Federal Reserve’s 2011 guidelines state that model risk assessment and management would be ineffective without adequate documentation. A similar requirement is put forward today by many regulatory and corporate governance bodies. This clearly means that model documentation today is more of a necessity than a choice. However, there is still no denying that it is one of the most time-consuming jobs for a data scientist. As opposed to building and validating machine learning models, describing how a model works in detail is tedious and takes a considerable amount of time and effort, let alone dealing with the issues of consistency, clarity, and collaboration.[Read More]
Breaking the Jargons 