Which statement BEST describes the primary difference between model validation and model monitoring?
Select an answer to reveal the explanation.
Short Explanation
Here's the deal — model validation is your pre-deployment gate that checks whether the model meets requirements before it goes live, while model monitoring is the ongoing surveillance after deployment to see if it keeps performing as expected. Both belong in the model lifecycle, but they happen at different stages and answer different questions.
Full Explanation
Model validation is a pre-deployment activity that assesses whether a model meets requirements, while model monitoring is an ongoing post-deployment activity that tracks whether it continues to perform as expected over time. Validation is a pre-deployment gate checking fitness for purpose before production; monitoring is ongoing surveillance in production to detect performance degradation, drift, and emerging risks. Both are part of the full model lifecycle but serve distinct purposes at different stages. The technical-versus-business distinction is wrong because both validation and monitoring can assess technical and business performance. The internal-versus-external distinction is wrong because both can be performed by internal or external parties. The risk-tier distinction is wrong because monitoring requirements depend on risk tier and model materiality.