The Role Of Data Science
JeanFrancoisPuget 2700028FGP Comments (8) Visits (53588)
I am sure I'll get flamed for this post, given how hyped data science is. Let me first say that I do not pretend to define what data science is, others, probably more qualified than me, have done it well. For instance, I like this definition from Dawen Peng, as it speaks to an Operations Research person like me. I will rather focus on the role data science can have for business. What I see the most is data scientists analyzing data then publishing reports on insights they found in data. Just browse over the numerous data science blogs to get examples.
So far so good? Here comes the flame generating piece:
Reports on insights found in data aren't that useful to business.
What matters are actions and business decisions. Without decisions, nor actions, business isn't impacted, hence no value is created.
This is as simple as that.
I am not the only one saying this, see for instance Seth Godin on anal
The role of data science is to enable data based decision making
The picture below captures this message.
Data science moves business from raw data on the left to business actions on the right. The way to go from data to decisions is to leverage a set of technologies to gather data, prepare and clean data, analyze data, perform what if analysis of decision consequences, etc. I saw too many times data scientists stop in the middle, leaving business people without any clue about how to use the insights generated from data.
I discuss some ways to turn insights into decisions and actions in Actionable Insights
Update on Mar 20
Dr Diego Kuonen shred very interesting material supporting a similar view, see