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Market Perspective 2017: How Data Science Will Drive the Next Wave Of Disruption | AnacondaCON 2017

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Data science has gone through several years of hype due to the data deluge and rapid innovation on many fronts. But it is just now that we're starting to see how it can really deliver the goods and be a disruptive market force. In this talk I will provide my perspective on how data science will be a visible disruptor in the market in 2017.

Presented at AnacondaCON 2017 by Brian Hopkins, Forrester Research.

Published in: Data & Analytics

Market Perspective 2017: How Data Science Will Drive the Next Wave Of Disruption | AnacondaCON 2017

  1. 1. #OpenDataScienceMeans #AnacondaCON
  2. 2. © 2017 FORRESTER. REPRODUCTION PROHIBITED.
  3. 3. © 2017 FORRESTER. REPRODUCTION PROHIBITED. Business executives know that disruption is lurking Source: “Understand The Digital Business Landscape” Forrester report.
  4. 4. © 2017 FORRESTER. REPRODUCTION PROHIBITED. Source: “Will People Really Do That?” Forrester report 2007 - 2016 2017 - 2026 “The next 10 years will generate an order of magnitude of more change than the past 10 years.”
  5. 5. © 2017 FORRESTER. REPRODUCTION PROHIBITED. Source: https://futurism.com/images/ai-forecast-for-2017/
  6. 6. © 2017 FORRESTER. REPRODUCTION PROHIBITED. Firms are eager to hire or train “data scientists”
  7. 7. © 2017 FORRESTER. REPRODUCTION PROHIBITED. It’s a team sport The process can be more valuable than the model Speed is exceptionally important Source: “The Four Things Data Scientists Wish You Knew” Forrester report
  8. 8. © 2017 FORRESTER. REPRODUCTION PROHIBITED. What if Moore’s law applies to number of models?
  9. 9. © 2017 FORRESTER. REPRODUCTION PROHIBITED.
  10. 10. © 2017 FORRESTER. REPRODUCTION PROHIBITED. Digital insight is insight you can test and implement in software
  11. 11. © 2017 FORRESTER. REPRODUCTION PROHIBITED. Firms that bake an evolved data science into systems of insight will win
  12. 12. © 2017 FORRESTER. REPRODUCTION PROHIBITED. Winners will make data science a part of systems that close the loop between data and action Source: “Digital Insights Are The New Currency Of Business” Forrester report
  13. 13. © 2017 FORRESTER. REPRODUCTION PROHIBITED. These insights-driven firms will steal $1.2T by 2020 Sources: Morningstar, PitchBook, Economist Intelligence Unit Revenue forecast of insights-driven businesses 2016 2017 2018 2019 2020 $1200 $800 $400 0 Public: 27% CAGR Startups: 40% CAGR Global GDP compound annual growth rate (CAGR) is only 3.5%
  14. 14. © 2016 Forrester Research, Inc. Reproduction Prohibited Built differently + operate differently = steal revenue and customers
  15. 15. © 2017 FORRESTER. REPRODUCTION PROHIBITED. Insights-driven firms build systems of insight Source: “Digital Insights Are The New Currency Of Business” Forrester report
  16. 16. © 2017 FORRESTER. REPRODUCTION PROHIBITED. Tesla’s system of insight delivers competitive advantage Source: Tesla Web UI Data Science Platform MongoDBHadoop SQL Server MySQL Data Sources Visual Analytics Data Scientists Engineers Firmware team Pipe-line Data Engineers The insights team manages insights to execution Change driving experience
  17. 17. © 2017 FORRESTER. REPRODUCTION PROHIBITED. They put data scientists on insight teams Source: “Digital Insights Are The New Currency Of Business” Forrester report Business leader Manages the team to optimize a specific business outcome Technology leader Responsible for testing, implementation, and architecture Domain experts Recognize insights worth the investment Developers Test and implement insights in software and business rules Data scientists Build models and exercise them to reveal potential insights Data engineers Gather, assess, integrate, prepare, and manage data
  18. 18. © 2017 FORRESTER. REPRODUCTION PROHIBITED. They drive speed around the loop Source: ”The Insights-Driven Business” Forrester report
  19. 19. © 2017 FORRESTER. REPRODUCTION PROHIBITED. Source: Upcoming “The Anatomy Of A System Of Insight” Forrester report Big Data Foundation
  20. 20. © 2017 FORRESTER. REPRODUCTION PROHIBITED. Turn your data science ambition into insights-driven investment v Make data science a team sport. v Look at the heart of strategic change. v Close loops.
  21. 21. © 2017 FORRESTER. REPRODUCTION PROHIBITED. How AI automates the insight loop Data Insight About “Things” Decisions / Actions • Data preparation • Feature engineering • Model selection • Model application • Data filtering • Model governance • Model Monitoring
  22. 22. © 2017 FORRESTER. REPRODUCTION PROHIBITED. Turn your data science enthusiasm into insights- driven investment v Make data science a team sport. v Look at the heart of strategic change. v Close loops. v Use AI to automate the insight-to-execution process.
  23. 23. FORRESTER.COM Thank you © 2017 FORRESTER. REPRODUCTION PROHIBITED. Brian Hopkins @practicingea bhopkins@forrester.com
  24. 24. © 2017 FORRESTER. REPRODUCTION PROHIBITED. Source: Upcoming “The Anatomy Of A System Of Insight” Forrester reportSource: Forrester Research, Inc. Unauthorized reproduction, citation, or distribution prohibited.120088 Contact Center Solution Big Data Fabric provides infrastructure services that support and run insight platform components Sales Insight Platform Some run on shared big data fabric services Marketing Insight Platform Some run on shared big data fabric services Real-time Interaction Management Solution IoT Insight Platform All components run separately from big data fabric Sales Management Solution IoT Solution Buy UseDiscover and Explore IoT Solution Ask States In The Customer Lifecycle System of Insight System of Insight System of Insight System of Insight System of Insight
  25. 25. © 2017 FORRESTER. REPRODUCTION PROHIBITED. Vendors are evolving to platforms Source: “Vendor Landscape: Insights Platforms, Q3 2016” Forrester report
  26. 26. #OpenDataScienceMeans #AnacondaCON

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