http://en.wikipedia.org/wiki/Named-entity_recognition#Formal_evaluation :
To evaluate the quality of a NER system's output, several measures
have been defined. While accuracy on the token level is one
possibility, it suffers from two problems: the vast majority of tokens
in real-world text are not part of entity names as usually defined, so
the baseline accuracy (always predict "not an entity") is
extravagantly high, typically >90%; and mispredicting the full span of
an entity name is not properly penalized (finding only a person's
first name when their last name follows is scored as ½ accuracy).
In academic conferences such as CoNLL, a variant of the F1 score has
been defined as follows:
- Precision is the number of predicted entity name spans that line up exactly with spans in the gold standard evaluation data. I.e. when
[Person Hans] [Person Blick] is predicted but [Person Hans Blick] was
required, precision for the predicted name is zero. Precision is then
averaged over all predicted entity names.
- Recall is similarly the number of names in the gold standard that appear at exactly the same location in the predictions.
- F1 score is the harmonic mean of these two.
It follows from the above definition that any prediction that misses a
single token, includes a spurious token, or has the wrong class,
"scores no points", i.e. does not contribute to either precision or
recall.