The present invention envisages a system and method for automating the generation of business decision analytic models. The system uses a plurality of predictor variables stored in a plurality of data sets, to automatically create a business decision analytic model. The system includes a processor configured to process the data sets and determine the total number of records present in each of the data sets and the number of columns containing only numerical values. The processor selects a column containing only numerical values, from a dataset under consideration, and counts the number of unique numerical values in the selected column, and the total number of records present in the selected column. The two counts are compared and the selected column is transformed using a non-linear transformation to obtain a column of transformed values. The transformed values and corresponding time stamps are utilized for the purpose of model generation.
Please help me write a proper abstract based on the patent claims. CLAIM: 1. A computer implemented system for automating the generation of an analytic model, said system comprising: a processor communicatively coupled to a repository, the repository configured to store a plurality of records, each of the records comprising values for a plurality of variables, said processor configured to process the records, said processor comprising: a time-stamping module configured to derive values for a plurality of elapsed-time variables, wherein each elapsed-time variable represents an elapsed time associated with at least two respective values of the plurality of variables, the plurality of variables and the plurality of elapsed-time variables included in a plurality of model variables; a model generator configured to create a plurality of comparison analytic models, each comparison analytic model based on a different subset of the plurality of model variables; and a model testing module configured to select an operational analytic model from among the plurality of comparison analytic models based on a quality metric applied to each of the plurality of comparison analytic models. 2. The system according to claim 1, wherein: the model generator is further configured to create a respective plurality of comparison analytic models for each of a plurality of model types, each comparison analytic model within each model type based on a different subset of the plurality of model variables, and the model testing module is further configured to select a respective operational analytic model for each model type from among the plurality of comparison analytic models of the corresponding model type based on the quality metric applied to each of the plurality of comparison analytic models, said system further comprising a model selection module configured to select a production analytic model from among the operational analytic models of each model type based on the quality metric applied to the operational analytic models of each model type. 3. The system according to claim 2, wherein said system further comprises a model updating module configured to: receive new records; and evaluate a predictive performance of the operational analytic model of each model type based on the new records. 4. The system according to claim 2, wherein the model updating module is further configured to reselect the production analytic model from among the operational analytic models of each model type based on the predictive performance of the operational analytic models of each model type. 5. The system according to claim 4, wherein the model updating module is further configured to instruct the time-stamping module, the model generator, and the model testing module to regenerate the operational analytic model of at least one model type, based at least in part on the new records, in response to the predictive performance of the operational analytic model of the at least one model type being less than a threshold value. 6. The system according to claim 5, wherein the model updating module is further configured to instruct the time-stamping module, the model generator, and the model testing module to regenerate the operational analytic model of the at least one model type in a stateful manner. 7. The system according to claim 5, wherein the model updating module is further configured to instruct the time-stamping module, the model generator, and the model testing module to regenerate the operational analytic model of the at least one model type in a stateless manner. 8. The system according to claim 1, wherein the model generator is further configured to select at least one of the subsets of the plurality of model variables by generating a baseline model of the first model type based on the plurality of model variables, calculating an information gain for each model variable against a predicted variable, and omitting from the at least one subset the model variable having the lowest information gain. 9. The system according to claim 1, wherein the model generator is further configured to select at least one of the subsets of the plurality of model variables by calculating a variability of the values of each model variable, and omitting from the at least one subset the model variable having the lowest variability. 10. The system according to claim 1, wherein the model generator is further configured to select at least one of the subsets of the plurality of model variables by determining, for each model variable, a number of records for which the value of the model variable indicates missing data, and omitting from the at least one subset the model variable having the greatest determined number of records with missing data. 11. A method for automating generation of an analytic model, said method comprising the following computer-implemented steps: accessing a plurality of records, each of the records comprising values for a plurality of variables; deriving values for a plurality of elapsed-time variables, wherein each elapsed-time variable represents an elapsed time associated with at least two respective values of the plurality of variables, the plurality of variables and the plurality of elapsed-time variables together defining a plurality of model variables; creating a plurality of comparison analytic models, each comparison analytic model based on a different subset of the plurality of model variables; calculating a quality metric for each of the plurality of comparison analytic models; and selecting an operational analytic model from among the plurality of comparison analytic models based on the quality metric. 12. The method according to claim 11, further comprising: creating a respective plurality of comparison analytic models for each of a plurality of model types, each comparison analytic model within each model type based on a different subset of the plurality of model variables; calculating the quality metric for each of the plurality of comparison analytic models of each model type; selecting, for each model type, an operational analytic model from among the plurality of comparison analytic models of the model type based on the quality metric; and selecting a production analytic model from among the operational analytic models of each model type based on the quality metric. 13. The method according to claim 12, further comprising: receiving new records; and evaluating a predictive performance of the operational analytic model of each model type based on the new records. 14. (canceled) 14. The method according to claim 13, further comprising regenerating the operational analytic model of at least one model type, based at least in part on the new records, in response to the predictive performance of the operational analytic model of the at least one model type being less than a threshold value. 15. The method according to claim 14, wherein regenerating the operational analytic model of the at least one model type comprises regenerating the operational analytic model of the at least one model type in a stateful manner. 16. The method according to claim 14, wherein regenerating the operational analytic model of the at least one model type comprises regenerating the operational analytic model of the at least one model type in a stateless manner. 17. The method according to claim 11, further comprising selecting at least one of the subsets of the plurality of model variables by generating a baseline model of the first model type based on the plurality of model variables, calculating an information gain for each model variable against a predicted variable, and omitting from the at least one subset the model variable having the lowest information gain. 18. The method according to claim 11, further comprising selecting at least one of the subsets of the plurality of model variables by calculating a variability of the values of each model variable, and omitting from the at least one subset the model variable having the lowest variability. 19. The method according to claim 11, further comprising selecting at least one of the subsets of the plurality of model variables by determining, for each model variable, a number of records for which the value of the model variable indicates missing data, and omitting from the at least one subset the model variable having the greatest determined number of records with missing data. 20. A computer-readable medium having computer-executable instructions for automating generation of an analytic model, wherein when executed by at least one processor, the computer-executable instructions cause the at least one processor to: access a plurality of records, each of the records comprising values for a plurality of variables; derive values for a plurality of elapsed-time variables, wherein each elapsed-time variable represents an elapsed time associated with at least two respective values of the plurality of variables, the plurality of variables and the plurality of elapsed-time variables together defining a plurality of model variables; create a plurality of comparison analytic models, each comparison analytic model based on a different subset of the plurality of model variables; calculate a quality metric for each of the plurality of comparison analytic models; and select an operational analytic model from among the plurality of comparison analytic models based on the quality metric. 21. (canceled)