Question

After wch phase of the analytic lifecycle should be able to share a draft of an analytic plan

Answer 1

Phase 3 of the analytic life cycle is the model planning where the team determines the methods, techniques,and work flow it intends to follow for the subsequent model building phase.  The team explores the data to determine the relationship between variables and subsequently selects key variables and the most suitable models.


In data analytic life cycle we have six phases and in brief :

Phase 1  Discovery
Phase 2  Data preparation
Phase 3  Model planning
Phase 4  Model building
Phase 5  Communicate results
Phase 6  Operational, where the team delivers final results.

Answer 2

There a total of 6 phases in any data analytic cycle. These include

Phase 1 that is called the discovery phase - here the team focuses on the business problem and sees if the company has relevant resources to fulfil the project.

Phase 2 Data preparation phase - here the team collects and analyses all the relevant data required for the project.

Phase 3 Model planning phase here the team builds up upon the workflow, the techniques that would be used to undertake the project, key variables and most suitable methods models are selected. 

Phase 4 model building phase - in this phase trial, testing, training and production are the key steps.

Phase 5 Communicate results - the major stakeholders of the business are informed about the key findings and the summary of the whole project.

Phase 6 Operationalise  - In this phase the team delivers the final reports and technical documents.

After phase 3 that is the model planning phase, the team is has sufficient information and a overall plan of how to go about the project. Thus, then they are in a better position to share a draft of the overall analytical plan.