Image Source: Designing Machine Learning Systems by Chip Huyen
Steps
Project Scoping
Scope the project, lay out goals, objectives, constraints. Stakeholders are identified and involved. Resources are estimated and allocated.
Data Engineering
Developing ML models starts with engineering data. Curate training data out of raw data.
Model Development
Extract features and develop models from the initial set of training data.
Deployment
Make the model accessible to users after a model is developed.
Monitoring and Continual Learning
After deployment, monitor the models for performance decay. Maintain the model to be adaptive to changing environments and requirements.
Business Analysis
Evaluate model performance against business goals and analyse to generate business insights.