How and Why do we Make LMPs

This video provides an introduction to LMPs, starting with a clear definition of what LMPs are and the role they play in their respective field. The host outlines the core motivations for building LMPs, including practical benefits and the kinds of problems these models are designed to address. A high level overview of the typical workflow follows, touching on planning, data inputs, and the sequence of steps required to develop an LMP from concept to implementation. Throughout, the explanation emphasizes how different components interact, and why certain design choices can influence results, reliability, and applicability. The segment also highlights common challenges and trade-offs, such as balancing complexity with interpretability and managing data requirements. By the end of the section, viewers gain a sense of the overall lifecycle and the kinds of outcomes one should expect when working with LMPs.

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