2.4. Producing the project plan¶

This step describes the intended plan for achieving the data mining goals including:

outline the specific steps to be performed during the project
proposed timeline on each stage of the project
duration, resources required, inputs, outputs, and dependencies of the project stages
an analysis of dependencies between schedule and risks
an assessment of potential risks, considering the actions and recommendations to be taken
an initial assessment of the tools and techniques needed to support the project

The proposed timeline depends on each project phase, so it is important to decide which evaluation strategy will be used in the stages.

The industry timeline standards as shown in the picture are:

Data Preparation: 50 to 70 percent
Data Understanding: 20 to 30 percent
Modeling, Evaluation, and Business Understanding: 10 to 20 percent
Deployment Planning: 5 to 10 percent

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2.3. Determine the data mining goals

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3. Data Understanding