While it’s not super common in academia, it’s actually really useful in industry. I use statistical bootstrapping – poisson resampling of the input dataset – to train many runs on financial fraud models and estimate variance of my experiments as a function of sampling bias.
Having a measure of the variance of your results is critical when you’re deciding whether to ship models whose decisions have direct financial impact :P
While it’s not super common in academia, it’s actually really useful in industry. I use statistical bootstrapping – poisson resampling of the input dataset – to train many runs on financial fraud models and estimate variance of my experiments as a function of sampling bias.
Having a measure of the variance of your results is critical when you’re deciding whether to ship models whose decisions have direct financial impact :P