How to install Fedora: Hands-on with Anaconda installer

Fedora 21 was released this week and it looks like a great release so far, but one area where Fedora can be challenging for a new user is installation. Fedora developers decided to move away from the time-tested wizard-like installer where the user takes various steps in linear order ensuring none of the important steps is missed, instead adopting the hub & spoke model. While I appreciate the good intentions of UX designers and developers there are a couple of flaws in the installer that make the whole process a bit, I would say, complicated. This how-to will help.