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Data Con LA 2022-Pre-recorded-Integrating data science initiatives in business strategy for small

Data Con LA 2022-Pre-recorded-Integrating data science initiatives in business strategy for small

Linda Liu, Head of Data Analytics and Data Science at Hyrecar
AI/ ML/ Data Science
Machine learning and artificial intelligence are becoming mainstays of the enterprise business world, but many entrepreneurs and small-business owners still shy away from investing in it. You might not think that small businesses need to use AI in the same way that large companies do, but that is a fallacy. AI can contribute to many facets of business success including data sorting, email marketing, and much more. In small companies, people think there is not enough data volume for AI applications and automatically dismiss it. Stop! AI can still be applied. The core thing is to integrate AI in a cohesive plan outlining the processes for collecting, processing, governing, and eliciting value from data, optimized for ML and data science. This hold true for small companies as well. How we frame our approach to AI initiatives will determine its success. Don't worry, I am not a zealot. I will not tell you AI and ML are the cure-all and will solve all your problems. Some tasks are particularly well suited to these techniques, but not all. What I love about them is the fact that they allow us to tackle difficult problems that might otherwise be too daunting.

Linda Liu, Head of Data Analytics and Data Science at Hyrecar
AI/ ML/ Data Science
Machine learning and artificial intelligence are becoming mainstays of the enterprise business world, but many entrepreneurs and small-business owners still shy away from investing in it. You might not think that small businesses need to use AI in the same way that large companies do, but that is a fallacy. AI can contribute to many facets of business success including data sorting, email marketing, and much more. In small companies, people think there is not enough data volume for AI applications and automatically dismiss it. Stop! AI can still be applied. The core thing is to integrate AI in a cohesive plan outlining the processes for collecting, processing, governing, and eliciting value from data, optimized for ML and data science. This hold true for small companies as well. How we frame our approach to AI initiatives will determine its success. Don't worry, I am not a zealot. I will not tell you AI and ML are the cure-all and will solve all your problems. Some tasks are particularly well suited to these techniques, but not all. What I love about them is the fact that they allow us to tackle difficult problems that might otherwise be too daunting.

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Data Con LA 2022-Pre-recorded-Integrating data science initiatives in business strategy for small

  1. 1. Integrating Machine Learning Initiatives in Business Strategy for Small Companies Linda Liu Data Analytics & Data Science
  2. 2. Agenda ● Why Machine Learning ● Spotlight on Small Companies ● Challenges Met ● Solutions Implemented ● Conclusions
  3. 3. HYRE NASDAQ Why Machine Learning Source: https://dailymanna.blog/
  4. 4. HYRE NASDAQ Spotlight on Small Companies
  5. 5. HYRE NASDAQ Challenges Met Data quality and completeness ● Machine learning models cannot distinguish between good data and insufficient data. ● Lack of quality data can significantly limit model performance.
  6. 6. HYRE NASDAQ Challenges Met - cont’d Time-consuming model development and deployment ● Complexity from planning to execution with multiple layers. ● Focus on experimentative approach.
  7. 7. HYRE NASDAQ Challenges Met - cont’d End user disconnect ● Unfamiliarity with machine learning products. ● Gap between data scientists and business users.
  8. 8. HYRE NASDAQ Solutions Implemented - Cultivate a Data-driven Culture Cultivate a data-driven culture ● Facilitate data awareness and discipline. ● Demystify data-driven decision- making across organization
  9. 9. HYRE NASDAQ Solutions Implemented - Focus on Data Quality Focus on data quality ● Incorporate human element in data analysis. ● Thorough review of data for correctness, completeness, etc.
  10. 10. HYRE NASDAQ Solutions Implemented - Secret Sauce to Enhance Quality Secret sauce to enhance data quality ● Public dataset - traffic, weather, neighborhood ● Enriched data ● Telematics data
  11. 11. HYRE NASDAQ Solutions Implemented - Adopt Pre-trained Solutions Source: https://upsplash.com & Adopt pre-trained solution in combination with in-house solutions.
  12. 12. HYRE NASDAQ Conclusions Source: https://undraw.com Small companies can benefit just as much from ML and AI as bigger companies!
  13. 13. Thank You linda@hyrecar.com https://www.linkedin.com/in/lindachenliu/

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