Plan → Analyse → Construct → Execute
At the beginning of a project, it is important to establish a solid foundation for success. Here you will define the scope of your project. This is when you will begin by identifying the informational needs of the organization. During the planning stage, you will have the widest viewpoint of a project. By assessing all of the factors and processes involved, you are mapping a path to completion, using your creativity to conceptualize a course of action. Here you will also take special note of tasks that may require an innovative approach within your workflow.
Summary: The planning stage is where you conceptualize the scope of the project and develop the steps that will guide you through the process of completing a project.
Here are a few examples of the types of planning stage tasks:
In the analyzing stage, you will interact with the data for the first time. Here you will acquire all of the data you will need for the project. Some datasets could come from primary sources within your organization. Others may need to be collected from secondary sources outside your company. You may even find that you need governmental or open source data. The analyzing stage is also where you will engage in exploratory data analysis or EDA. This involves cleaning, reorganizing and analyzing all of the necessary data for the project.
Summary: The analyzing stage is where you will collect, prepare, and analyze all of the data for your project.
Here are a few examples of the types of analyzing stage tasks:
Just as the name suggests, the construction stage is all about building. In this stage of PACE, you will be building, interpreting, and revising models. Some projects will require machine learning algorithms to uncover correlations within your data. You will use these correlations to uncover information from the data that would otherwise go unused. These relationships can help your organization make informed decisions about the future.