The 5 Phases of Every Machine Learning Project – Blog

Machine learning and predictive analytics are pervasive in our lives today. AI impacts nearly everything we do and interact with including retail and wholesale pricing, consumer habits and behaviors, marketing and advertising, politics, entertainment, sports, medicine, business logistics and planning, fraud and risk detection, airline and truck route planning, pricing strategy, gaming, AI speech recognition, AI image recognition, self-driving cars, and robotics. Yet whether you are creating a self-driving car, predicting customer churn, or cresting a product recommendation system, all machine learning projects follow the same process and the same five basic phases. Data is the new oil. It is quickly becoming the most valuable commodity in the world. Data is like oil because it fuels machine learning projects. Without data, there is no machine learning and no predictive analytics. And just like grades of oil, there are grades of data. Supreme data is like rocket fuel for machine learning models, and buyers pay a premium for it.