Turn Data Science Into Competitive Edge

How to capitalize on your big data investment? Does investment in big data mean a competitive edge? I argue it is not, at least not yet. There is one more step to complete the picture: it is the success in the adoption and implementation of data science models and analytics that gives a competitive edge. In this post I want to share with you a few strategic perspectives:

1. Model explainability and implementation eventually turn your big data investment into competitive advantages
2. Use a series of adopted models, not just a model, to give a series of smart and informed business decisions. This will let you harvest the monetary fruits.
3. Build a disciplined organization that follows the cycle of creating, explaining, adopting, and implementing new models to capitalize on the data investment.
4. The bottleneck is model explainability. Use tools like the SHAP values to decompose your complex models to get the buy-in. See my posts “Explain Your Model with the SHAP Values” and “Explain Any Models with the SHAP Values — Use the KernelExplainer”.

If you are new to data science or want to get a 5-minute to debrief about data science, watch the video clip below.