MindsDB Wiki:
Machine Learning Explained

Accuracy

Accuracy is a term used to describe how often a machine learning model correctly classifies a data point. Essentially, accuracy points out the rate at which machine learning makes a correct prediction. Accuracy is an important metric in machine learning because companies use machine learning to get predictions that they then use to make important business decisions. Due to the nature of the kinds of decisions these companies often make as a result of said predictions, it’s important that the predictions are ones that these businesses can be confident in. Thus, the more accurate a prediction is, the lower the risk involved for any party ready to use the prediction’s insights to make decisions.

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