Why is it important to know bias variance trade off while modeling?

Bias and Variance are part of model prediction errors. A model with high bias pays very little attention to the training data and oversimplifies the model leading to underfitting. A model with high variance pays a lot of attention to training data and does not generalize well on the unseen data which leads to overfitting.

Bias-variance trade-off is a crucial concept in machine learning that explains the relationship between the complexity of a model and its ability to generalize to unseen data. It is important to…