In Named Entity Recognition (NER), we want to find and label words like names, places, or dates correctly. The key metrics are Precision, Recall, and F1-score.
Precision tells us how many of the entities the model found are actually correct. This matters because we don't want to label wrong words as entities.
Recall tells us how many of the real entities the model found. This matters because missing important entities means the model is incomplete.
F1-score balances precision and recall. It gives one number to see how well the model does overall.
We use these metrics because NER is about both finding entities and labeling them correctly.