The overall modeling process typically done in practice always requires seven steps: define the problem,collect and summarize data,develop a model,verify the model,select one or more suitable decisions,present the results to the organization,and finally implement the model and update it through time.

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Quizplus · Accepted Answer

The overall modeling process in practice does not strictly require seven steps; the number and nature of steps can vary depending on the specific context, methodology, and goals of the project.

The Overall Modeling Process Typically Done in Practice Always Requires