1.

What Are The Essential Steps In A Predictive Modeling Project?

Answer»

It consists of the following steps:

  • Establish business objective of a predictive model
  • Pull Historical Data - Internal and External
  • Select Observation and PERFORMANCE WINDOW
  • Create newly derived VARIABLES
  • Split Data into Training, Validation and Test Samples
  • Clean Data - Treatment of MISSING Values and Outliers
  • Variable Reduction / SELECTION
  • Variable Transformation
  • Develop Model
  • Validate Model
  • Check Model Performance
  • Deploy Model
  • Monitor Model

It consists of the following steps:


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