4. ABC bank maintains a database holding details of every clients who applied for a loan before and the result of their applications, the bank is interested to increase their profit by automate the loan application process. You are assigned to design a plan to help in predicting whether the borrower is going to be defaulter or pay of the loan in order to reduce the harmful risk of not paying the loan back on time. Briefly explain what are essential steps you need to include to successfully achieve the goal of this data mining project