Exploration: This stage involves preparation and collection of data. it also involves data cleaning, transformation. Based on size of data, different tools to analyze the data may be required. This stage helps to determine different variables of the data to determine their behavior.

Model building and validation: This stage involves choosing the best model based on their predictive performance. The model is then applied on the different data sets and compared for best performance. This stage is also called as pattern identification. This stage is a little complex because it involves choosing the best pattern to allow easy predictions.

Deployment: Based on model selected in previous stage, it is applied to the data sets. This is to generate predictions or estimates of the expected outcome.