Machine learning models have become an essential component of modern business operations. However, managing and deploying these models can be a challenging task for organizations. This is where model catalogs come into play. In this article, we’ll cover the top three benefits of implementing a machine learning model catalog.
Improved Model Management and Governance
Machine learning models are developed and deployed by different teams in an organization. This can lead to a lack of consistency in how models are developed, deployed, and managed across the organization. With a model catalog, organizations can establish a standardized approach to model management and governance.
Model catalogs provide a centralized platform for storing and managing models, enabling teams to easily find and access models developed by other teams within the organization. The catalog can also provide version control and tracking features, allowing teams to monitor changes made to models over time.
In addition, a model catalog can help organizations enforce compliance with established governance policies and processes. For example, some industries such as finance and healthcare, have strict regulations around data privacy and security. A model catalog can ensure that models are developed, deployed, and managed in accordance with these regulations. At Verta, custom release checklists can be added to each model version in your catalog to ensure all required checks are completed.
Increased Collaboration and Knowledge Sharing
Machine learning is a highly collaborative field, requiring input from diverse stakeholder teams across the machine learning lifecycle, including Data Science, ML Engineering, Governance, Product, IT and others. A model catalog can facilitate collaboration and knowledge sharing between these different teams and departments within an organization.
A model catalog also provides a platform for teams to share their models and related data. This can help teams avoid duplicating work and reduce the time and effort required to develop new models. Additionally, a catalog can allow different stakeholders to monitor model performance.
Finally, a model catalog can help organizations build a culture of knowledge sharing by providing a platform for teams to share their work and allowing employees to learn from each other and to adopt new techniques and approaches. The knowledge sharing happens as part of the regular release process and does not rely on ad-hoc documentation or searching within communication tools.
Faster Model Deployment and Time-to-Market
In today's fast-paced business environment, organizations need to be able to develop, deploy, and iterate models quickly to stay ahead of the competition. A model catalog can help organizations speed up the model deployment process, reducing time-to-market, while also providing guardrails around governance that ensure safety, security, and adherence to Responsible AI principles.
First, a model catalog can provide teams with access to existing models in their organization that can be quickly deployed to production. This can save teams time and effort by eliminating the need to build and train models from scratch, and also ensure that past work is reused.
Furthermore, a machine learning model catalog can help organizations improve the accuracy and performance of their models. By providing access to a wide range of prior work, documentation and related data, teams can experiment with different approaches and techniques, leading to better-performing models. Choices and tradeoffs made during development of the model are available for peer review and mistakes can be caught easily.
Finally, a model catalog ensures “speed with safety” by providing a standardized deployment process that includes governance process gates that each model must pass through before it can go into production. In this way, governance does not impede deployment but rather becomes an integral part of productionalizing models.
Time to Try a Model Catalog
If you would like to enjoy the benefits of a model catalog outlined above, you now have the opportunity to use the full capabilities of Verta Model Catalog at no cost to you through Verta. You can register as many models as you want, share models with your colleagues, and experience the governance, collaboration, and speed-to-market benefits of a model catalog today. Learn more about Model Catalog on our website or sign up today!
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