Scenario
You are designing the modeling approach for an ads ranking system in a feed/search product.
Requirements
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For each ad impression opportunity, choose and rank candidate ads.
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Optimize business value (e.g., revenue) while maintaining user experience.
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Account for auction/bidding constraints (e.g., advertisers bid per click or per conversion).
What to cover
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What labels you would predict (CTR/CVR/expected value), and how you combine them into a final ranking score.
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Feature sets (user, ad, context) and handling sparse/categorical data.
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Training data generation, delayed feedback, and bias (position bias, selection bias).
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Calibration, evaluation metrics, and online experimentation.
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Cold start for new ads/advertisers and exploration.