Synopsis: Thomas Davenport’s ideas on how to work with or manage Data Scientists.
For the uninitiated, “quant” comes from “quantitative analyst,” someone who works with data. As far as I can tell it originated back in the 80’s on Wall Street, with a group of really bright people who figured out how to apply advanced math and statistics to the prediction of stock and bond price movement.
Davenport’s intention with this book is not to turn anyone into a data scientist, but rather to introduce the idea of using analytics to solve business problems. In a nutshell, the plan goes like this:
- Define the problem. Are you trying to improve your revenue stream, tighten up your supply chain, or something else? It’s incredible how many companies have built out a Big Data infrastructure without first defining what they want to accomplish with the data.