CAP Model Deployment and Lifecycle

Question 1

SIPOC Business Process

Answer 1

A tool for process improvement that involves listing Suppliers, Inputs, Process, Outputs, Customers in tabular format; gives people who are unfamiliar with a process a high-level overview, reacquaints people whose familiarity with a process has faded or become out-of-date due to process changes, and helps people define a new process

Question 2

DMAIC (Define, Measure, Analyze, Improve, Control)

Answer 2

a data-driven improvement cycle used for improving, optimizing and stabilizing business processes and designs; the tool of choice used to drive Six Sigma projects

Question 3

CRISP-DM (Cross-Industry Standard Process for Data Mining)

Answer 3

an open standard process model that describes common approaches used by data mining experts; steps include business understanding, data understanding, data preparation, modeling, evaluation, and deployment

Question 4

Business validation

Answer 4

Making sure solution is tied to the original question

Question 5

Project Evaluation and Review Technique (PERT)

Answer 5

a statistical tool used in project management, which was designed to analyze and represent the tasks involved in completing a given project.

Question 6

Critical Path Method (CPM)

Answer 6

an algorithm for scheduling a set of project activities; determined by identifying the longest stretch of dependent activities and measuring the time required to complete them from start to finish.

Question 7

Model monitoring and sustaining

Answer 7

Used to ensure the results are being used correctly and determine if there are problems with the model or data

Question 8

Model lifecycle management plan

Answer 8

Plan that covers model from conception and business justification, through data collection, the model building, and deployment. Helps to keep this process orderly; Minimizes the cost and efforts of creating and maintaining the models; provides the business users with clear roles within the life cycle.

Question 9

Tracking model quality

Answer 9

Establish evaluation criteria up front; routinely check model over time and record quality parameters; recalibrate model to current conditions; document value of model to organization in terms of resources

Question 10

Model retirement

Answer 10

Retire a model when the problem it solves is solved by other means of replaced by other concerns; retire a model when assumptions underlying model are no longer accurate