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CMA Intermediate · Financial Management and Business Data Analytics · Introduction to Data Science for Business Decision-making

After a model predicting monthly sales for a Chennai FMCG firm is approved, it is integrated into the company's planning system, and its prediction errors are tracked every month so it can be retrained when accuracy falls. Which life cycle activity does this describe?

This is deployment and monitoring. Once the model is validated, it is placed into the live planning system, and its errors are tracked regularly so that it can be retrained when its accuracy deteriorates over time.

  1. ADeployment and monitoringCorrect
  2. BData collection
  3. CExploratory data analysis
  4. DFeature selection

Explanation

Integrating an approved model into live systems and tracking its performance over time is deployment and monitoring. Data collection, exploratory analysis and feature selection occur earlier, before the model is built and approved.

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