Book Image

The Art of Data-Driven Business

By : Alan Bernardo Palacio
Book Image

The Art of Data-Driven Business

By: Alan Bernardo Palacio

Overview of this book

One of the most valuable contributions of data science is toward helping businesses make the right decisions. Understanding this complicated confluence of two disparate worlds, as well as a fiercely competitive market, calls for all the guidance you can get. The Art of Data-Driven Business is your invaluable guide to gaining a business-driven perspective, as well as leveraging the power of machine learning (ML) to guide decision-making in your business. This book provides a common ground of discussion for several profiles within a company. You’ll begin by looking at how to use Python and its many libraries for machine learning. Experienced data scientists may want to skip this short introduction, but you’ll soon get to the meat of the book and explore the many and varied ways ML with Python can be applied to the domain of business decisions through real-world business problems that you can tackle by yourself. As you advance, you’ll gain practical insights into the value that ML can provide to your business, as well as the technical ability to apply a wide variety of tried-and-tested ML methods. By the end of this Python book, you’ll have learned the value of basing your business decisions on data-driven methodologies and have developed the Python skills needed to apply what you’ve learned in the real world.
Table of Contents (17 chapters)
1
Part 1: Data Analytics and Forecasting with Python
4
Part 2: Market and Customer Insights
9
Part 3: Operation and Pricing Optimization

Creating effective data teams

Data initiatives require the implementation of data teams with specialized skills, as well as a multidisciplinary approach as the technology that supports the data strategy sits on top of the commercial strategy.

We asked the data leaders their perspective on data teams; here are their answers.

Florian Prem

  • What does a good data team look like?

It depends on the mandate of the CDO. I normally organize into governance, data analytics, and data value creation/product. Then, I build cross-domain teams for agile product delivery (IT, business, and data).

  • What are the most important topics to consider when leading a data team?

Understand your team, understand your business, and understand your technology.

  • What are the best practices for business decision-makers to collaborate with highly specialized data teams?

See what I stated previously, hire a tech and business-savvy CDO, and build enterprise-wide/multiple...