Machine Learning Model Monitoring in Production: Mitigating Decay

One of the key problem related to Machine Learning model in production is model decay. But Let’s explore in this video-lecture various strategies to apply once model decay has been identified.
This nugget discusses the following questions:
How to mitigate model decay?How to form a new training dataset?
What are the re-training strategies for Machine Learning model in production?
When to retrain the model?