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Ch. 7: Success, Risk, and Continuation (Decide whether to continue (run…

- - - - SME's using model associated w/ project success
    - - esp. important at end of project where decisions are made
    - - tool for specifying & communcating value
      - data must first be collected and cleaned
    - - value must be specified
      - communicate relative costs and benefits
- - - - ex: not permitted to access info on applicants who were rejected, but would have been good customers
    - - ex: was race and evaluating feature in original process?
      - privacy
        
        ex: Facebook finding out who's gay before they've come out based on FB likes
    - - processes designed on methodologies from the past can prevent organization from becoming "analytics competitors"
        
        hallmarks of analytics competitors
        
        analytics used in related functions like HR and Marketing
        
        top mgmt team recognizes and drives use of analytics and innovative measures of success
        
        fact-based decision making part of org. culture
        
        copious data analytics is performed - results shared internally and with customers and partners
        
        "test and learn" culture exists
    - - external environment that provided data changes dramatically
        
        "black swan" phenomenon
      - data scientist must be prepared to remodel