The CRISP-DM Methodology
Business Understanding
This initial phase focuses on understanding the project objectives and requirements from a business perspective, and then converting this into a predictive analytics problem definition, and a preliminary plan designed to achieve the objectives. This step is critical to ensure we understand WHY we are embarking on a predictive analytics project. To aid this step, after meetings with relevant stakeholders we apply methods such as balanced score cards, root cause analysis, force field analysis, and requirements modelling. A resulting project plan, team and best practices will be established at the end of this stage.