From the course: Certified Analytics Professional (CAP) Cert Prep

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Understanding model building

Understanding model building

From the course: Certified Analytics Professional (CAP) Cert Prep

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Understanding model building

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- [Narrator] The CAP domains we've covered so far are preparatory steps for building an analytical model. Therefore, it's not an overstatement to say that model building is the highlight of a data analytics process. We framed a business problem and refined it into an analytics problem. You learned how to collect, explore, and clean data sets. Domain four was all about learning what approaches and tools are available to develop our own model. By now, you should be knowledgeable enough to at least decide on the most appropriate type of modeling approaches for a problem at hand. Let's say that you want to detect fraudulent credit card transactions. A predictive model is relevant to this scenario because our goal is to tell whether a purchase is legitimate or not based on the understanding of a customer's expected behavior. In this case, the analytics model literally predicts the probability of a sale to be…

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