What is the fourth stage of creating a predictive model called?

The fourth stage of creating a predictive model is referred to as the Model Analysis phase. This stage is crucial as it involves the evaluation and critical assessment of the predictive model developed in previous stages. During Model Analysis, various metrics and techniques, such as confusion matrices, ROC curves, and lift charts, are utilized to determine the model's performance and effectiveness in making predictions.

This phase allows practitioners to identify how well the model generalizes to new data and whether any adjustments or improvements are needed. It effectively serves as a bridge to the subsequent phases, ensuring that the model is not only theoretically sound but also practically applicable and reliable in real-world scenarios.

Understanding the importance of this phase helps in recognizing the significance it plays in achieving optimal outcomes when implementing predictive modeling techniques within decisioning processes.