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www.ArsQuanta.com
Perspectives on Data Science and Analytics from the Front Lines
Jason HoffmanArs Quanta Inc.
www.ArsQuanta.com
www.ArsQuanta.com
www.ArsQuanta.com
Key Observations
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High-Level Observations
• Information is growing exponentially • Cost of disk and processors has gone
exponentially down while the power has going has gone exponentially up
• More touch points with collection of consumer information than ever before
• People are interacting with information and technology that were unimaginable 50 years ago
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Key Observations - Business
• Big Companies have a disproportionate advantage because of the scale of their data
• Established small and mid-Market businesses and entire market niches in the are being dis-intermediated by small and rapid emerging tech startups.
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Key Observations - Staffing
• A 2014 Study identified that 6000 companies were planning to hire “data Scientists” this year
• Less than 1% of the US population get PhDs
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Lessons For Analytics Leaders
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Lesson #1
Go slow at the very start in order to go fast later with Analytics
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Lesson #2
Start from where you are today
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Lesson #3
Once you have the foundation Analytics program in place, focus on speed of iteration vs. getting everything perfect
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Lesson #4
Measurement is destiny
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Lesson #5
Step function gains can come from non-low hanging fruit and sophisticated methods
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Lesson #6
If you are just beginning your Analytics program, hire generalists first, rather than specialists
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Lesson #7
Don’t hire data scientists
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Lesson #8
The consumption of analytics is more important than the creation of analytics
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Lesson #9
Software helps, but it’s not enough
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Lesson #10
Identify your Data ‘posse’; leverage them extensively to build and support your program