Book Image

Principles of Strategic Data Science

By : Peter Prevos
Book Image

Principles of Strategic Data Science

By: Peter Prevos

Overview of this book

Mathematics and computer science form an integral part of data science, and understanding them is crucial for efficiently managing data. This book is designed to take you through the entire data science pipeline and help you join the dots between mathematics, programming, and business analysis. You’ll start by learning what data science is and how organizations can use it to revolutionize the way they use their data. The book then covers the criteria for the soundness of data products and demonstrates how to effectively visualize information. As you progress, you’ll discover the strategic aspects of data science by exploring the five-phase framework that enables you to enhance the value you extract from data. Toward the concluding chapters, you’ll understand the role of a data science manager in helping an organization take the data-driven approach. By the end of this book, you’ll have a good understanding of data science and how it can enable you to extract value from your data.

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Table of Contents (6 chapters)
Preface
Preface
About the Book
Acknowledgements
Free Chapter
1
Chapter 1: What is Data Science?
Chapter 1: What is Data Science?
Introduction
Data-Driven Organization
The Data Revolution
The Elements of Data Science
The Purpose of Data Science
2
Chapter 2: Good Data Science
Chapter 2: Good Data Science
Introduction
A Data Science Trivium
Useful Data Science
Sound Data Science
Aesthetic Data Science
Best-Practice Data Science
3
Chapter 3: Strategic Data Science
Chapter 3: Strategic Data Science
Introduction
The Data Science Continuum
Collecting Data
Descriptive Statistics
Diagnostics
Predicting the Future
Prescribing Action
Toward a Data-Driven Organization
4
Chapter 4: The Data-Driven Organization
Chapter 4: The Data-Driven Organization
Introduction
People
Systems
Process
The Limitations of Data Science
5
References
References

Useful Data Science

How do we know that something is useful? The simple, but not very illuminating answer is that when something is useful, it has utility. Some philosophers interpret utility as the ability to provide the greatest good for the highest number of people. This definition is quite compelling, but it requires contextualization. What is right in one situation might not be so beneficial in another.

The concept of the highest number of people is also open to interpretation. Is something only useful when it benefits all of humanity, or can it also be useful when it helps just one person? The requirement to include the highest number of people in our definition of usefulness might work well for government organizations. It is also not so clear in corporations that seek to maximize the benefits to their shareholders.

Whether something is useful or useless depends on the context in which it is applied, but also on the set of values by which it is judged. Defining usefulness in generic...

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