ReduceLROnPlateau watches a chosen metric, usually validation loss or validation accuracy, during training. When this metric stops improving for some time, it reduces the learning rate. This helps the model learn better by taking smaller steps, avoiding overshooting the best solution.
Choosing the right metric to monitor is key. For example, if you want to improve accuracy, monitor validation accuracy. If you want to minimize error, monitor validation loss. The metric should reflect your main goal.