Predicting Loan Application Decision and Grade Using Lending Club Data
Time truly flies when you’re learning data science! I wish I could say that is always synonymous with having fun, but the bootcamp has proven quite challenging at times. Either way, six weeks are in the books, and we’ve already reached the halfway point in the course. We’ve really started to hit a stride with the amount of material we’re covering on a daily basis, and actually absorbing the lectures has seemed easier as time has gone on. With that being said, our last assignment, Project McNulty, was a step up in terms of difficulty compared to the previous two projects. Not only were we required to build a classification model of our choosing, but we had to turn it into a web app and incorporate an interactive visualization as well. Luckily this one was a group project, so there were four of us to distribute the workload between. After much deliberation, we decided to address a classification problem surrounding Lending Club loan application data. Namely, we set out to predict if someone, given their credit history and demographic information, would be accepted for a loan. If they were to be accepted, we also wanted to predict the grade of loan they should expect to receive. As peer to peer lending has become a useful instrument for many in securing financing, we thought it would be both interesting and helpful for potential applicants to see if they should expect to be accepted for their ideal loan.
