Hi Saikat,
I wrote my master thesis about evaluating recommender in real world examples:

https://source.apaxo.de/svn/semrecsys/trunk/doc/2010-Manuel-Blechschmidt-730786-EvalRecSys.pdf

So what you are  going to do is current research. This means that there are 
currently not a lot of experiences.

In 2009 there was an online evaluation challenges which was part of ECML PKDD.

2009 ECML PKDD Discovery Challeng: Online Tag Recommendations. http:// 
www.kde.cs.uni-kassel.de/ws/dc09/online. Version: 2009, Checked: 2011-04-23

You will have to run all your recommenders in parallel to figure out which one 
is the best one for optimizing business goals. I founded a company which is 
developing the described technology. I am currently searching for a project 
starting in July 2012 where I can try this. So if you are interested in hiring 
my feel free to send me a personal message.

/Manuel

On 10.04.2012, at 17:41, Saikat Kanjilal wrote:

> 
> Hi everyone,We're looking at building out some clustering and classification 
> algorithms using mahout and one of the things we're also looking at doing is 
> to build performance metrics around each of these algorithms, as we go down 
> the path of choosing the best model in an iterative closed feedback loop 
> (i.e. our business users manipulate weights for each attribute for our 
> feature vectors->we use these changes to regenerate an asynchronous model 
> using the appropriate clustering/classification algorithms and then replenish 
> our online component with this newly recalculated data for fresh 
> recommendations).   So our end goal is to have a basket of algorithms and use 
> a set of performance metrics to pick and choose the right algorithm on the 
> fly.  I was wondering if anyone has done this type of analysis before and if 
> so are there approaches that have worked well and approaches that haven't 
> when it comes to measuring the "quality" of each of the recommendation 
> algorithms.
> Regards                                         

-- 
Manuel Blechschmidt
CTO - Apaxo GmbH
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