One cannot underestimate how important this first step in the process is in achieving success. It is the foundational step, and failure or success here will likely determine failure or success for the rest of the project. The purpose of this step is to identify the requirements of the business so that you can translate them into analytical objectives. It has the following four tasks:

1. Identifying the business objective.
2. Assessing the situation.
3. Determining analytical goals.
4. Producing a project plan.