Chapter 9. Best Practices for Predictive Modelling
As we have seen in all the chapters on the modelling techniques, a predictive model is nothing but a set of mathematical equations derived using a few lines of codes. In essence, this code together with a slide-deck highlighting the high-level results from the model constitute a project. However, the user of our solution is more interested in finding a solution for the problem he is facing in the business context. It is the responsibility of the analyst or the data scientist to offer the solution in a way that is user-friendly and maximizes output or insights.
There are some general guidelines that can be followed for the optimum results in a predictive modelling project. As predictive modelling comprises a mix of computer science techniques, algorithms, statistics, and business context capabilities, the best practices in the predictive modelling are a total of the best practices in the aforementioned individual fields.
In this...
