What is the name given to the third stage in the creation of a predictive model?

The third stage in the creation of a predictive model is known as Model Development. During this phase, algorithms are applied to the prepared data to construct the actual predictive model. This process involves selecting appropriate modeling techniques, tuning parameters, and utilizing statistical or machine learning methods to build the model that will be used for making predictions.

In the context of modeling, this stage is critical as it directly impacts the model’s accuracy and performance. Proper model development includes ensuring that the model is capable of generalizing well to unseen data, which is essential for its real-world application. After this stage, typically, the model is then subjected to validation and evaluation to assess its predictive capabilities before deployment.

Data Preparation precedes this stage, where raw data is cleaned and transformed into a suitable format for modeling. Model Analysis involves evaluating the model's performance and understanding its behavior, and Validation Phase is about confirming that the model's predictions are reliable and valid. Therefore, Model Development is distinctly focused on the actual creation of the predictive model, making it the correct answer.