Model Lifecycle: From ideas to value

Model Lifecycle: From ideas to value

In this article, we go through the model lifecycle, from the initial conception of the idea to build models to finally delivering the value from these models.

In Part 1 of this series we examined the key differences between software and models; in Part 2 we explored the twelve traps of conflating models with software; and in Part 3 we looked at the evolution of models. In this article, we go through the model lifecycle, from the initial conception of the idea to build models to finally delivering the value from these models.

We breakdown the entire lifecycle of models into four major phases — scoping, discovery, delivery, and stewardship. While there are many similarities between this model lifecycle and a typical software lifecycle, there are significant differences as well, stemming from the differences between software and models that we started this series with. Here we go over the four phases and the nine steps within these phases.

modeling machine-learning model data-science software-development

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