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Data Science: Overhyped fad, or the foundation of the future?

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The future is coming -- and it's going to be driven by AI. But if you’re going to invest in data science and machine learning, you may as well do it right, or not do it at all. Here’s how.

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Data Science: Overhyped fad, or the foundation of the future?

  1. 1. DATA SC IEN C E OVE RHYPE D FA D OR THE FOU NDATION OF THE FU TU RE ?
  2. 2. INT RODU CTION Nathan VP Data Services Payvision Rodger Co-founder & CEO Crobox
  3. 3. DIGITA L BORN LE A DE RS
  4. 4. DIRE CTIONLE S S INVE S TME NT DATA CO NSULTANTS DATA SCI E NTI STS
  5. 5. NO ME ANINGFU L BE NE FITS WASTED TIME AND EFFORT DUE TO NO CLEAR PURPOSE
  6. 6. DATA SC IEN C E IS TO BL AME
  7. 7. “OF BI G DATA & A N A LY TI CS PROJE CTS FAIL TO GO BE YOND E XPE RIME NTATION.”  - T E C H R E P U B L I C - “S AY TH E I R FI RM S A RE TRYI N G TO BECOME DATA-DRIVEN, BUT ONLY ONE -THI RD RE PORT S U C C E E DI N G .” - N E W V A N T A G E P A R T N E R S - 85% 99% * B I G D A T A E X E C U T I V E S U R V E Y 2 0 1 8 E X E C U T I V E S U M M A R Y O F F I N D I N G S
  8. 8. - N E W V A N T A G E P A R T N E R S - THE TECHNOLOGY JUDGED MOST DISRUPTIVE IS AI. BY FAR. 72% CHOSE AI AS THE DISRUPTIVE TECHNOLOGY WITH THE MOST IMPACT FAR MORE THAN CLOUD COMPUTING OR BLOCKCHAIN.
  9. 9. THE NE CE S S A RY FU TU RE FOR RE TA ILE RS
  10. 10. THE FU TU RE $1 TRI L L I ON THE FUTURE IS COMING W H E TH E R W E L I K E IT OR N OT
  11. 11. IN-S TORE E YE TRACKING THE DATA IS THE RE , W E ON LY N E E D TO M AKE S EN SE OF IT
  12. 12. AT T E N T I O N THE AT TE NTION E CONOMY
  13. 13. E A S E THE DE CI S I ON PROCE S S : BE RE L E VA NT, RE DU CE CHOICE
  14. 14. A I - A I DE D DE C I S I ON - M A K I N G BE RE L E VA NT RE DU CE CHOICE CRE ATE VALU E
  15. 15. BE FU TU RE -PROOF DATA S TRU CTU RE PE OPLE PROCE SS I NVE S T IN T HE RIGHT ME T HODS A ND TOOLS
  16. 16. CRE ATING AN E NVIRONME NT FOR S U C C E S S
  17. 17. FROM BU ZZW ORD TO VA LU E DATA S TRATE G Y TA L E NT DATA S CI E NCE INT EGRATI ON CU LTU RAL RE S IS TA NCE
  18. 18. DATA S TRATE G Y BE COME DATA DRIV E N
  19. 19. BU S INE S S & DATA S TRATE G Y A L IG NME NT TOPDOWN BOTTOMUP
  20. 20. DATA FACTORY E FFI CI E NT DATA U S E
  21. 21. DATA FACTORY
  22. 22. BE PRE PA RE D IF YOU’R E N OT GOOD AT BI, YO U ’ R E N OT R E A DY F O R A I
  23. 23. TA L E NT CRE ATING AND RE TA INING TA LE NT
  24. 24. THE ROOT CAU S E FOCUS ON REAL BUSINESS PROBLEMS. BRING IN EXPERTS WIT H REL EVA NT E X P E R IE N C E , N OT J UST DATA SC IE NT ISTS.
  25. 25. BU IL D A TEAM TH AT IS COMPOSE D OF ALL DISCIPLINES
  26. 26. DATA S CI E NCE I NTE G RATI ON S TOP TRE ATI N G DATA S C I E N C E A S R&D
  27. 27. FU LLY INTE G RATE D S YS TE M
  28. 28. CU LTU RAL RE SISTANCE BRING YOU R TE A M TOG E THE R TO REDUCE RE SISTANCE
  29. 29. HOLD WORKSHOPS TO U NDE RSTAND THE PROBLE M BE T TE R
  30. 30. W H AT TH I S M E A N S DATA S CI E NTI S TS S HOU L D N OT BE IN IVORY TOW E RS
  31. 31. W H AT I S OU R DATA S TRATE G Y A N D H OW D OE S IT S E RV E TH E BU S I N E S S ? W H AT A RE W E D OI N G TO BU I L D A N D K E E P TA L E NT E D, M U LT I D I S C I P L I N A RY T E A M S ? HOW ARE THE IR E FFORTS BE ING INTE GRATE D INTO OUR BUSINESS? W H AT A RE YOU D OI N G TO OV E RC OM E C U LTU RA L RE S IS TA NCE , A ND W HE N IS MY W ORKS HOP?
  32. 32. CROBOX: DATA -DRI V E N E COM M E RCE
  33. 33. CROBOX APPROACH DIS COVE R THE WHY BE HIND THE BU Y B E H A V I O R A L P S Y C H O L O G Y A R T I F I C I A L I N T E L L I G E N C E
  34. 34. L E V E R AG I N G U N I QU E DATA S E TS DATA M ODE L S TH AT TU RN BE H AV I ORA L , DE M OG RA PHI C, A ND TRA NS ACTION A L DATA INTO PS YCHOG RA PHICS
  35. 35. MU LT IDISCIPLIN ARY MIN DSE T
  36. 36. TE A M A LIG NME NT G ROW TH M I N D S E T
  37. 37. NU DGING TOWARDS THE B U Y BU T TON AVE RAGE ORDE R IMPACT 8.3% CONVE RSION IMPACT U NI QU E PROFILE S 1.9% 1M
  38. 38. IN-DE PT H CUSTOM E R INTELLIGENC E Social Proof People are social creatures and likely to follow group behavior when communicated. Scarcity Products that are scarce have increased perceived value and it boosts the urgency to decide now. Authority People are more likely to trust messages when they’re recommended by credible sources. Innovation People are novelty-seeking so new products are seen as more attractive and associated with rewards. Commitment People want to remain consistent in their behavior and thinking. A first step increases the next step. PSY CH OGRA PHIC INSIGHTS OF T HE EUR OPEAN UA SHO PPER European UA shoppers are most susceptible to Social Proof in the consideration phase, which increases the likelihood for them to click. So when it comes to choosing products, UA shoppers tend to primarily look toward the behavior and opinions of others. 5.4M PERSUASI ON PROFILES 9.91% OVERALL IMPACT (CTR)
  39. 39. BE FORE & BE YOND THE B U Y BU T TON
  40. 40. L E V E R AG I N G DATA A F T E R THE BUY BU T TON
  41. 41. BE YOND THE BU Y DATA AN ALYSIS AND COLLECT ION DOESN’T STOP AF T E R T H E BUY BUT TON
  42. 42. M ACHINE LE ARNING TO FIG HT FRAU D
  43. 43. AUTO RE T RIES 12% OF ONL I NE CRE DIT CA RD PAYM E NTS FA I L
  44. 44. D O I N G D AT A S C I E N C E W I T H O U T A B U S I N E S S S T R AT E G Y STO P! D O I N G D AT A S C I E N C E A S A R E S E A R C H E N D E A V O R / R & D M A K I N G S U R E Y O U H A V E A C O M P R E H E N S I V E P L A N B E F O R E Y O U C O M M I T START… S E C U R I N G P R O P E R F U N D I N G A N D R E S O U R C E S M A K I N G S U R E T H AT D AT A I S I N T E G R AT E D I N T O T H E O R G A N I Z AT I O N A N D C U LT U R E K E E P I N G D AT A S C I E N C E AT A R M ’ S L E N G T H F R O M O P E R AT I O N S
  45. 45. BU IL D A S U S TA IN A BL E S TRATE G Y L E T ’ S C H AT
  46. 46. Nathan VP Data Services Rodger CEO Crobox TH A NK YOU , QU E S TI ONS ?

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