1. Business understanding | What is the question to solve and what metrics are to be evaluated? |
| Generate hypothesis; Assess resources (people, data, and tools). |
2. Data understanding | Identify data resources, data reuse and integration plan, datatification, and decision on tools. |
3. Data preparation | Acquire data; Perform data profiling, cleanse, and transform; Explore data and verify quality. |
4. Model planning | Determine the methods, techniques, and workflow; |
| Select key variables and determine correlation between them. |
5. Model building | Build models; Perform analysis and iterate. |
6. Evaluation | Perform evaluation against metrics; Communicate results and recommendations. |
7. Deployment | Integrate analytics procedures into management dashboards and operational systems. |
8. Review and monitoring | Monitor performance; Identify parts that need to be improved. |