VIDEO

You Can't Automate Model Development

Discussion about Model Development

Model development and model validation are the processes of developing and testing statistical models. For many companies it is very costly as the employees needed to do the work require high salaries. The reason for the high compensation is due to the amount of schooling and experience needed to create profitable models.

There have been companies trying to automate this process however the results have not been good. The reason for not being able to properly automate model development is due to the fact that statistical models are part science and part art. If it were a pure science it would be easy to automate however the art and understanding of non quantifiable information is what makes this problem complex.

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