Ipl bangalore industry connect event v4.1 sd 23042015
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Transcript of Ipl bangalore industry connect event v4.1 sd 23042015
DATA SCIENCE & ANALYTICS:
RELEVANCE TO THE PRODUCT LEADER
Sumit Dhar
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Industry Connect event, Product Management Institute
25th April 2015
Sumit Dhar
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Vice President- Client analytics & Data Science
[24]7 iLabs
Email: [email protected]
M: +91-9686760383
Twitter: @sxd213
Linkedin: https://in.linkedin.com/in/sumitdhar71
Today’s Focus
Data to Big Data the transformation
Opportunities for Prediction &Advanced Analytics
Data Science:- Frameworks + Skills
Productized Framework to enable Data Science &
Analytics
Data Product definitions and what it really means
Embedding Prediction & Advanced Analytics in
Design quicker “pivot or persevere” decisions
A Few examples…
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The focus is on Data Science & analytics and opportunities for
Product Leaders and Professionals
Data Story:- Brief History in time
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‘Big Data’ of transaction & interaction information are creating new
opportunities in value creation
Adopted from AT Kearney- Big Data and the Creative Destruction of Today's Business
ModelsAdopted from AT Kearney- Big Data and the Creative Destruction of Today's Business
Models
Accelerating Data Driven Transformation
Adopted from http://www.mckinsey.com/insights/business_technology/getting_big_impact_from_big_data
Emerging Areas of Data Science & Analytics
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Largely Big Data:- Social + Location+ Devices+ Sensors+ Mobility…
Adopted from AT Kearney- Big Data and the Creative Destruction of Today's Business
Models
Data Science & Analytics Framework
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Data Analytics in the Business Context is more than just ‘Data Science’,
requires a mix of Business, Data, Techniques and Organizational Skills
1. Understand Business Goals
2. Charter Analytics Opportunities &
Prioritize
3. Get Business Sponsorship
4. Identify Data & Data Stewards
5. Data “Munging”
6.Initial Data Analysis
7.Model Build & Deployment
8.Syndicate Insights & Actions
Representative
Consultative
Framework
The Data Science Venn Diagram
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http://drewconway.com/zia/2013/3/26/the-data-science-venn-diagram
Product Management…
Structured, Design approach to meet specific business
need versus a more tactical service delivery approach
Data Science: Discovery:: Product Management:
Innovation
Product is developed based on the asks of target market
segment versus specific client asks
Product Leaders ensure Engineering abilities (supply) and
Market needs (demand) meet & generate business value
Build Scale…
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My view of things based on interactions with ‘Data Product’
Leaders
The “Big Data Effect”- Engineering Driven Analytics
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http://www.rosebt.com/blog/big-data-analytics-infrastructure
Avoid “Hadump”
Data Product
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http://www.rosebt.com/blog/big-data-analytics-infrastructure
• Any App, solution, software, online component- that
consistently generates or consumes DATA in a
manageable and repeatable manner is a Data Product
• ‘Data Jujitsu’- “Term coined by DJ Patel. the art of using
multiple data elements in clever ways to solve iterative
problems that, when combined, solve a data problem
that might otherwise be intractable.”
• A Successful Product Leader should do the following:
Learn the Science
Spread Knowledge
Engage with Cross Functional Teams
What is it? How a Product Leader should prepare?
Data Science + Product Management: Synergy to
drive Innovation
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How do this diverse streams meet?
Data Science
R&D- Explore
Possibilities
Interesting
Problems
Prototypes of
Value Creator
Minimum Viable
Algo (MVA)
Business Integration +
Scale Up (Domain
Knowledge)
Data
Business
Boundary Conditions
Compliance
Client
Engineering