Creating a Business problem statement for Data Science Problem Formulation

Let’s first talk about creating a business problem statement.A business problem statement is a concise description of an issue to be addressed or a threat from which the organization has to protect itself or an opportunity which an organization can exploit.So we require a concise description of issues, threats or opportunities. A business problem statement identifies the gap between the current state and desired state of a process product or a situation.But it should not state at this point of time, the solution or the methods for reaching the solution.