Well, the answer to this question may vary from person to person. But below are a few criteria which I think are a must to be considered to decide whether a developed data model is good or not:
- A model developed for the dataset should have predictable performance. This is required to predict the future.
- A model is said to be a good model if it can easily adapt to changes according to business requirements.
- If the data gets changed, the model should be able to scale according to the data.
- The model developed should also be able to easily consumed by the clients for actionable and profitable results.