Data Science/Complete Project Life Cycle
Data Science project life cycle
Detailed Tour with Step by Step Explanation [2022]
Written by Jyosmitha Munnangi & Reviewed by Yogesh Kothiya
Any project starts with a well-defined problem statement (like forecasting the sales of an X item present in its inventory in the coming month or the cause of customer churn) or a not well-defined problem (like how to increase sales of a product).
Data science enables us to solve this business problem with a series of well-defined steps. Generally, these are the steps we mostly follow to solve a business problem. All the terminologies related to data science falls under different steps which we are going to understand just in a while
Step 1: Business understanding
Step 2: Collecting data
Step 3: Pre-processing data
Step 4: Analysing data
Step 5: Data Modelling
Step 6: Model Evaluation
Step 7: Model Deployment
Step 8: Driving insights and generating BI reports
Step 9: Taking a decision based on insights
