Label, Segment, Featurize: A Cross Domain Framework for Prediction Engineering

Abstract

In this paper, we introduce "prediction engineering" as a formal step in the predictive modeling process. We define a generalizable 3 part framework - Label, Segment, Featurize (L-S-F) - to address the growing demand for predictive models. The framework provides abstractions for data scientists to customize the process to unique prediction problems. We describe how to apply the L-S-F framework to characteristic problems in 2 domains and demonstrate an implementation over 5 unique prediction problems defined on a dataset of crowdfunding projects from DonorsChoose.org. The results demonstrate how the L-S-F framework complements existing tools to allow us to rapidly build and evaluate 26 distinct predictive models. L-S-F enables development of models that provide value to all parties involved (donors, teachers, and people running the platform).