Question

Provide an explanation of the first two steps of the B.A.D.I.R. model - The Business Question and the Analysis Plan. What is their purpose in the B.A.D.I.R model and why is it so important that they not be skipped?

Answer 1

answer-

the first two steps of BADIR model are important and should not be skipped because the first step helps to know the real problem of the business and issue for decision making.it is important for Finding the real and actionable Business question. Model building starts with clearly understanding the Business question. What is the model trying to solve for and how is it measured? This needs to be arrived at by input from all the stakeholders and all of them need to agree with the goal for the project.

the second step is important to Formulate a hypothesis-driven Analysis plan. In this brainstorming hypotheses with stakeholders generates the most likely predictors for the model. Hypotheses inform the Analysis plan, which also includes the analysis goal, the methodology, sampling strategy, data specification, timelines, resources and milestones. All the stakeholders need to agree to the analysis plan before the project moves forward. This key step ensures that the model will be ready to be acted upon when the results roll out.

the purpose of this model is to provide actionable insights through data. It uses historical data to solve a business problem. It focuses on accelerated improvement versus stability . It has an inbuilt system to learn any business context.