Data Science/Complete Project Life Cycle

Data Science project life cycle

Detailed Tour with Step by Step Explanation [2022]

Co-Learner
Co-Learning Lounge
Published in
11 min readMar 10, 2021

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Written by Jyosmitha Munnangi & Reviewed by Yogesh Kothiya

Source

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

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