Three basic steps to the process, I was referred by a friend to the job opening. First you talk to HR and they gauge your general fit to the position. While I did not have experience, my technical background fit the job requirements well so I passed. Second was a phone interview of a predictive modeling case study as well as some simple analytical questions. If you pass that portion of the interview, they will fly you into the office for an in person interview.
The in person interview lasts for a good part of the day (8:00am - 2:00pm). It will be split into a few 1 hour sessions as well as a few 30 minute sessions which involve giving a presentation, coding, modeling case study, as well as basic behavioral questions. Typically a decision will be made on the day of the interview by end of day, but it can take a few days for the results to get back to you.