Friday, February 15, 2013

FAMQ - Frequently Asked Modeling Questions

This blog is a list of Modeling Questions and links to other posts that have detailed answers to these questions.

During the Model Development and Review process a number of issues may arise that may best be addressed proactively. This document is intended to address some of the more common issues that tend to come to the forefront during the model review process. Many of these items may be subject to the personal opinions of the individual reviewer; however, they are all valid issues. A resolution process should be developed to resolve any conflicts.

In addition, these questions can serve as a reference for new modelers who may just have some basic questions on the modeling process. How to get started? How to plan a project?


Why are First Steps important? – Defining the Problem

How do you approach first steps if you are a client?

What kind of problem do you have?

What is the modeling target (dependent variable(s))?

What are predictive (independent) variables

Can a predictive variable be used in implementation?

What are the time windows for both the target and predictive variables?

What is Performance Inference?
What is model “engineering”?

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