Domain 7 - Model Lifecycle

Question 1

Why is a good lifecycle process needed?

Answer 1

To keep this process orderly, minimizes the cost and efforts of creating and maintaining the models, and, importantly, provides the business users with clear roles within the lifecycle

Question 2

Documentation should include the following…

Answer 2

Key assumptions (business context and analytics problem)
Data sources and schema
Methods used to clean and harmonize data
Model approach and model review artifacts
Documentation for any software code written
Recommendations for future improvements to the model

Question 3

Model Lifecycle Objectives

Answer 3

1. Prepare documentation
2. Track model quality
3. Recalirbrate and maintain the model
4. Support training activities
5. Evaluate the business benefit of the model over time