Today’s blog is focussed on the key topic of what are those 5 things to be checked even before you get started on a data science project
Is application of AI or ML required at the first place
This is the most important question that one need to ask themselves even before they get started on a Data Science project.Just because there is an issue or a problem, we would start looking out for a ML/AI solution.Just a mere automation might as well fix the issue.
Is the problem well defined
This is the second most important thing that needs to be checked.So even before we start looking at the solution bit, we need to first understand the problem statement well enough.
Does the AI/ML solution reduce the costs or increase revenue
The word is impact.Our solution should either reduce the costs or increase revenue( or both ).If not, then we need to relook at our solution once again.
Is the data available and are we collecting the right data
Once we begin any data science project, the availability of data becomes the top most priority.Also, we need to ensure we are having right data to proceed with.Else we would be wasting weeks cleaning the wrong data.
Are the success metrics well defined
Each ML project is different and we need to define a success metric that makes sense for your specific project and which we will be able to measure. Once that metric is set, we should make sure it is accepted by business people and data scientists alike as the accuracy % or response time makes all the difference.