The OSEMN Framework

 Now here's a framework that's super helpful for data science projects. Before applying the framework, we must set the goals and objectives of our project.

Goals should always be smart.
S - Specific
M - Measurable
A - Attainable
R - Relevant
T - Time bound

example : Gain 1000 subscribers for a new service in 5 months.

Once the goal is set, we should figure out a key performance indicator (KPI) that will help us monitor our growth with respect to our initial goal.

example : New Subscribers per month

One the goal and KPI are determined, we can start to look at the OSEMN framework to kick off our project.

O - Obtain data
S - Scrub data
E - Explore data
M - Model data
N - Interpret data

Let's look at this framework in some detail.

Obtain data : We have to obtain data to analyze it. In our example we can look at previous sales data to figure things out.

data can be of 3 types : First party, second party, and third party.

data can come from 5 main formats : txt, xlm, csv, json, databases.

Scrub data : Scrubbing data is all about cleaning it, and converting the data into a usable format. There are four main things we would like to do in this stage.
1) Remove duplicate records
2) Format the data in the correct way
3) Deal with missing values (by either filling or removing them)
4) Correct any incorrect values

Explore data : In this stage there are for main things to be done.
1) Check the variable distribution of the data.
2) Look for any correlation between the variables.
3) Apply statistical tests to confirm these correlations.
4) Visualize the data.

Model data : Now we use mathematical modeling to predict our results.
Some common models are : classification, regression, clustering.

Interpret data : Now we finally conclude what we found by analyzing the data in the previous steps, and connect it to the objective.
example : By analyzing the data we found that by offering our top 10 products in the subscription service in 2 of the highest selling cities will help us get 1100 subscribers in 5 months.