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Recently I have come across a term, CRISP-DM - a data mining standard. Though this process is not a new one but I felt every analyst should know about commonly used Industry wide process. In this post I will explain about different phases involved in creating a data mining solution.
CRISP-DM, an acronym for Cross Industry Standard Process for Data Mining, is a data mining process model that includes commonly used approaches that data analytics Organizations use to tackle business problems related to Data mining. Polls conducted at one and the same website (KDNuggests) in 2002, 2004, 2007 and 2014 show that it was the leading methodology used by industry data miners who decided to respond to the survey.
CRISP-DM model is a phased approach to tackle a business problem. Different phases involved in the model are defined below:
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