What is the purpose of a loss function in supervised learning?

What is the purpose of a loss function in supervised learning?

Step 1: Understand that supervised learning involves training a model using input data and known output values.
Step 2: Recognize that the model makes predictions based on the input data.
Step 3: Identify that the loss function is a tool used to evaluate how well the model's predictions match the actual output values.
Step 4: Learn that the loss function calculates a numerical value that represents the difference between predicted values and actual values.
Step 5: Realize that a lower loss value indicates better model performance, while a higher loss value indicates worse performance.
Step 6: Conclude that the purpose of the loss function is to guide the model's learning process by providing feedback on its accuracy.

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