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Ch 13. Data Science and Business Strategy (Sustaining Competitive…
Ch 13. Data Science and Business Strategy
Thinking Data-Analytically, Redux
Understand fundamental data science principles well enough to
Envision opportunities
Supply resources
Willing to invest
Louis Pasteur "Fortune favors the prepared mind"
Phone companies
Social connections
Online advertising
Targeted marketing based on demographics
Churn predictions
Achieving Competitive Advantage with Data Science
Data and data science are complementary strategic assets
Dell and Compaq
Identify opportunities and threats
Prerequisite for a competitive advantage is that the asset is valuable in the context of company strategy
Sustaining Competitive Advantage with Data Science
Attracting and Nurturing Data Scientists and Their Teams
think and culture
market
Examine Data Science Case Studies
fundamental principles
application
Data science
Short lived assets
Easy to duplicate
Available resources
Always invest and develop (good team/crucial)
Inability to replicate
Formidable Historical advantage
Amazon
Undercut competitors
Developed data sets
Keep customers because of their marketing and #of products
Unique intellectual property
novel techniques for mining
Hidden mechanism/visible results
Unique intangible collateral assets
Your model is not what your data scientists design, its what your engineers implement
Superior data Scientists
Quality range
creativity, business sense, analytical
KDD cup
Superior data science mgmt
understand needs, communicate, coordinate, anticipate outcomes, culture
Be Ready to Accept Creative Ideas from Any Source
example data mining proposal
big red consulting
Business understanding , data understanding , modeling, evaluation, deployment
Evaluate
A firms data science maturity
young
implement
medium
well defined
old
optimization