For embedding models used in semantic search, the key metric is Recall@K. This measures how often the correct or relevant items appear in the top K search results. It matters because users want the right answers to show up quickly, not buried deep in the list.
Another important metric is Mean Reciprocal Rank (MRR), which captures how high the first relevant result appears. A higher MRR means users find what they want faster.
Precision is less important here because semantic search focuses on finding all relevant items, not just avoiding irrelevant ones.