1. Business Understanding

1.1 Determine Business Objectives

Outputs:

• Background

Ask a home buyer to describe their dream house, and they probably won't begin with the height of the basement ceiling or the proximity to an east-west railroad. But this playground competition's dataset proves that much more influences price negotiations than the number of bedrooms or a white-picket fence.

With 79 explanatory variables describing (almost) every aspect of residential homes in Ames, Iowa, this competition challenges you to predict the final price of each home.

• Business Objectives

To predict the final price of each home.

• Business Success
• Criteria

1.2 Assess Situation

Outputs:

• Inventory of Resources
• Requirements, Assumptions, and Constraints
• Risks and Contingencies
• Terminology
• Costs and Benefits

1.3 Determine Data Mining Goals

Outputs:

• Data Mining Goals
• Data Mining Success Criteria

1.4 Produce Project Plan

Outputs:

• Project Plan
• Initial Assessment of Tools and Techniques