Life cycle of Data Science | Complete step-by-step guide

The Data Science Lifecycle is centred on the application of machine learning and
various analytical methodologies to extract insights and predictions from data to
achieve a commercial company goal. A lot of processes are included in the complete
method, including data cleaning, preparation, modelling, model evaluation, and so
on. It is a time-consuming technique that could take many months to finish. As a
result, having a generic structure to follow for each problem is critical. A Cross
Industry Standard Process for Data Mining, or CRISP-DM framework, is a widely
mentioned design for solving any analytical problem.

Let us first examine why Data Science is required.

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Previously, data was significantly less abundant and accessible in a well-structured
form, which we could quickly and readily put in Excel sheets, and data can now be
rapidly examined with the help of Business Intelligence tools. However, we are now
dealing with vast amounts of data, with around 3.0 quintals bytes of records being
produced each day, culminating in a record and data explosion. Dealing with such a
tremendous amount of data generated every second is a huge task for any firm. We
needed really sophisticated, complex algorithms and tools to handle and evaluate
this data, which is where data science comes in.

The following are some of the key reasons for utilising data science
technology:

● It aids in the conversion of substantial amounts of uncooked and unstructured

data into meaningful insights.

● It can help with specific forecasts such as surveys, elections, and so forth.

● It also aids in the automation of transportation, such as the development of a

self-driving automobile, which we might argue is the future of transportation.

● Companies are changing their focus to data science and adopting this
technology. Amazon, Netflix, and other companies that deal with substantial
amounts of data use information science techniques to improve the customer
experience.

The lifecycle of Data Science

1.Business Understanding:
The organization's aim is at the centre of the entire cycle. What will you do if you do
not have a specific problem anymore? Because the final purpose of the study will be
to comprehend the business goal thoroughly, it is important to do so. Only after we
have a desirable perspective we can design a precise evaluation goal that is in line
with the enterprise goal. You must decide whether the consumer wants to reduce
savings loss or prefers to estimate the rate of a commodity, for example.

2.Data Understanding:

After gaining an understanding of the enterprise, the next stage is to gain a

comprehension of the data. It is a list of all the data that can be accessed. Here, you
must work closely with the business group, since they are aware about what
information is available, what facts should be used for this business challenge, and
other related details. This stage entails identifying the data, its structure, its
significance, and the type of records it contains. Graphical charts can be used to
examine the data. Essentially, collecting any facts about the information that you can
obtain by simply browsing the data.

3.Preparation of Data:

The data preparation stage follows. This includes actions such as selecting relevant
data, integrating the data by merging data sets, cleaning it, addressing missing
values by either deleting or imputing them, treating erroneous data by dropping it,
and testing for outliers with box plots and dealing with them. Creating new data and
deriving new elements from existing data. Format the data according to your
preferences, removing any unnecessary sections and elements. The most
time-consuming, but most important, step in the entire existence cycle is data
preparation. Your model will be as accurate as the information you provide.

4.Exploratory Data Analysis:

Before building the true model, this step entails acquiring a general idea of the
response and the factors that influence it. Bar graphs are used to visualise the
distribution of data within different variables of a character. Relationships between
distinctive features are recorded through graphical representations such as scatter
plots and warmth maps. Many data visualisation methodologies are widely utilised to
identify each characteristic separately and in combination with other characteristics.

5.Data Modeling:

The coronary heart of data analysis is data modelling. A model takes organised data
as an input and outputs the desired result. Whether the problem is a classification
problem, a regression challenge, or a clustering problem, this stage involves picking
the appropriate model.Following agreeing on the framework and the amount of
algorithms inside that family, we must hand pick the algorithms to implement and
enforce. We also need to ensure that there is a good balance between overall
performance and generalizability. We do not want the model to study the data and
perform poorly on new data any longer.

6.Model Evaluation:

Here the model is examined for deciding if it is geared up to be deployed. The model
is tested on previously unseen data and assessed using a carefully developed set of
assessment measures. We also need to make sure that the model is accurate. If the
evaluation does not yield a satisfactory outcome, we must repeat the entire
modelling approach until the desired level of metrics is reached. Any data science
solution, such as a machine learning model, must develop, be able to improve itself
with fresh data, and adapt to a new evaluation measure, just like a human. We can
create multiple models for a given occurrence, but many of them will be flawed.

7.Model Deployment:

After a thorough evaluation, the model is finally implemented in the selected

structure and channel. The data science life cycle ends with this step. Each phase in
the above-mentioned data science life cycle must be carefully considered. If one
step is done incorrectly, it will influence the next stage, and the entire effort will be
wasted. For example, if data is not gathered, you will lose records and will not be
able to design an ideal model. The model will no longer work if the data is not
cleansed. If the model is not correctly analyzed, it will fail in the physical world.

Conclusion

In the first part of our discussion about data science life cycles, we talked about the
initial steps. We will continue with a comprehensive guide to data science in the
following section of this topic.