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Nice! You might like these links too. "Machine Learning Meets Economics", uses manufacturing quality as an example.

http://blog.mldb.ai/blog/posts/2016/01/ml-meets-economics/ http://blog.mldb.ai/blog/posts/2016/04/ml-meets-economics2/




This is awesome - thank you! I went through a similar exercise described in your link in evaluating the utility of the tool I described above. This is a nice write up of the logic.

In my case the % occurrence of the defect was very high and the False-Positive cost is also very high so my tool could provide value without being too stellar of a model.




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