How To Extract Business Value From Data Science: It’s All About The Teamwork – Jack Soat

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To make an impact at the enterprise level, the data science group can’t work in isolation, said Ian Swanson, Oracle vice president of machine learning and artificial intelligence product development, during a presentation at the recent Oracle OpenWorld conference. “In order to do data science right, it has to be a team sport,” said Swanson, former CEO of DataScience.com, which Oracle acquired earlier this year.

Team Members

One of the data science group’s most valuable teammates is the IT organization, for multiple reasons, he said. The DS group relies on IT to manage and secure the data it uses; support the needed analytics tools; and deliver ready access to scalable bandwidth, compute, and storage capacity to build and train production-oriented analytic models.

Another important ally is the application development team. Developers must incorporate the models DS builds into their “ecosystem” as regular features among the many they use to build production applications, Swanson said.

That points to a significant attribute of production-oriented models: reusability. An ecommerce recommendation engine, for instance, might be reused for forecasting an item’s revenue stream, he said. A key performance indicator for one technology company Swanson worked with on a DS project was “how often that model was used by other parts of the business,” he said.

Line-of-business managers are a valuable constituency as well, because they’re tasked with performing the actions—and getting the results—from applications that use analytic models. An underestimated advantage line-of-business managers bring to the analytics model-building process, Swanson said, is their domain expertise—their experiences working with customers.

As for the top brass, they don’t need “to be involved in every step of the model, but they need to understand how it will be used, the opportunities it offers, the things it can achieve,” Swanson said. “If you’re not involving the top, if they’re not part of the team, data science is not affecting the heart of the business.”

Awash in Tools

Because data science is the new darling of the technology marketplace, the number and variety of analytics tools are staggering. Swanson said he worked with a company whose DS team had accumulated 682 different tools. “How is IT managing 682 different tools?” he wondered.

Still, building predictive analytics models is complicated, requiring a “full stack” of tools, libraries, and languages—preferably open source, which encourages standards and self-service, Swanson said. As DS matures, its practitioners will have to comply with enterprise programming standards, in particular version control. “If you’re writing production code, you should be using some sort of system that encourages working together to follow best engineering practices, such as checking in code and making sure its reproducible,” he said.

But enterprise data science goes beyond programming. “It requires a platform that removes barriers to production, improves collaboration, manages the tool sprawl, provides self-service access to data, and helps with model planning and retention,” Swanson said.

Reliable Outputs

Calling data scientists “the architects and engineers of digital transformation,” Swanson noted that there are DS use cases “in every industry and function,” providing the means to generate “new business channels and new business models.” But achieving those goals requires the will—and a strategy—for extending the work data scientists can do as widely across the enterprise as resources will allow.

“It’s about creating a process that delivers reliable outputs to drive business outcomes,” Swanson said. “You need to put it into action—that’s real DS.”

 

 

 

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The Next Recession Is Coming: Here’s How To Protect Your Portfolio – John E. Girouard

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Everyone wants to know how to create the elusive “recession-proof” portfolio. In 2008, I was asked to write a column on the topic, and since millions of us were still reeling from losing everything, the title I suggested was, On Monday I was Ready to Retire, Now It’s Tuesday. Catchy, yes, but when people woke up to find $10.2 trillion in wealth had been wiped out from the American economy, they wanted answers. More importantly, they wanted to take back some semblance of control over their financial lives and find a way to protect themselves from “next time,” which had quickly become their new worst fear……………

Read more: https://www.forbes.com/sites/investor/2018/11/20/the-next-recession-is-coming-heres-how-to-protect-your-portfolio/#36fefa831682

 

 

 

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Japan’s GMO Internet Reports ‘Historical Q3 Performance’ for its Crypto-Related

Japan’s GMO Internet Reports ‘Historical Q3 Performance’ for its Crypto-Related Businesses https://www.pivot.one/share/post/5be97a9acd5ee726e242f10c?uid=5bd49f297d5fe7538e6111b6&invite_code=JTOJYV

Japanese Firms Claim Success in Marine Insurance Blockchain Trial

Japanese Firms Claim Success in Marine Insurance Blockchain Trial https://www.pivot.one/share/post/5be97aa4cd5ee726e14c4cc6?uid=5bd49f297d5fe7538e6111b6&invite_code=JTOJYV

5 Steps to Becoming a Millionaire – Grant Cardone Trains His Sales Team LIVE

I do weekly sales training with my sales team to keep all my employees in sync with the mission. To help others reach success. But that doesn’t exclude my employees. I want my company not only to serve others, and help them reach financial freedom, but to also give that to my staff.

This week we talked about the 5 steps to becoming a millionaire. It is important to me that my employees are doing well, because it sells them even more on the idea of helping others reach the sales levels of success I have had in my career. If you’re ready to take that next step and become a millionaire yourself,

I want to give you my Millionaire Booklet for free. Simply visit: https://goo.gl/UmqETn —- ►Where to follow and listen to Uncle G: Instagram: https://www.instagram.com/grantcardone Facebook: https://www.facebook.com/grantcardonefan SnapChat: https://www.snapchat.com/add/grantcar…. Twitter: https://twitter.com/GrantCardone Website: http://www.grantcardonetv.com Advertising: http://grantcardonetv.com/brandyourself Products: http://www.grantcardone.com LinkedIn: https://www.linkedin.com/in/grantcard… iTunes: https://itunes.apple.com/us/podcast/c…

 

 

 

 

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Boise and Reno Capitalize on the California Real Estate Exodus – Prashant Gopal & Noah Buhayar

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Julie D’Agostino spent 15 years in the San Francisco Bay Area working in tech and considers herself decidedly liberal. Still, she ended up buying a home in a surprising place: deep-red Idaho. The 51-year-old moved to Boise two years ago, attracted to its walkable downtown, lively arts scene, and, most important, cheaper housing. She’s happy there, even though her first winter in 2016 and Donald Trump’s election were a shock……..

Read more: https://www.bloomberg.com/news/articles/2018-10-23/boise-and-reno-capitalize-on-the-california-real-estate-exodus

 

 

 

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What Does It Cost To Live Like The Richest People In The World – Andrea Murphy

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Bad news—of a very mild variety—for anyone with a couple billion tucked away in the underground lair out back: Living a truly posh lifestyle has gotten juuust a bit pricier over the last 12 months. Our basket of 40 luxury goods is up 2% since last year, nearly half a point above the increase from 2017. Since we began tracking it in 1982, the Cost of Living Extremely Well Index (CLEWI) has outpaced inflation by an average 2.3%. This year’s increase, though, was more than half a point below that of the Consumer Price Index over the same period…….

Read more: https://www.forbes.com/sites/andreamurphy/2018/10/17/what-does-it-cost-to-live-like-the-richest-people-in-the-world/

 

 

 

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The Walt Disney Of Retail: Meet The Billionaire Building The Malls Of The Future – Samantha Sharf

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To understand The Grove, the 575,000-square-foot shopping Xanadu in central Los Angeles, let its owner, Rick Caruso, introduce you to its neighbor, the iconic Farmers Market. He takes you to a butcher stall where, some 80 years ago, Caruso’s father was sweeping the floor. Next he points to a pizza stand founded by Patsy D’Amore, who baked L.A.’s first pie in 1939. “I grew up on his knee,” he says. Dapper in a custom suit and red-and-black-striped tie, Caruso weaves his way through the chaos, frequently stopping to ask merchants, “How’s business?…..

Read more: https://www.forbes.com/sites/samanthasharf/2018/10/11/the-walt-disney-of-retail-meet-the-billionaire-building-the-malls-of-the-future-1/

 

 

 

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Three Behaviors That Can Help You Mature From Boss To Leader – Chris Myers

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One of the most embarrassing mistakes I made early on at BodeTree was believing that the title of CEO automatically made me a leader.  It didn’t. I had power, but had yet to earn my authority. Thought I fancied myself a leader, I was just a boss. It took years of mistakes, struggles, and hard realizations for that to change. You see, anyone can be a boss, but relatively few have the drive, patience.I still have a long way to go, but I have learned three behaviors that are central to the transformation from boss to leader. Like most things of value, these behaviors are easy to accept but hard to live……

Read more: https://www.forbes.com/sites/chrismyers/2018/09/28/three-behaviors-that-can-help-you-mature-from-boss-to-leader/#3742a05b4f68

 

 

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The New Atlanta Billionaires Behind An Unlikely Tech Unicorn – Alex Konrad

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Two years ago, Ben Chestnut found a crumpled piece of paper in the trunk of his Mercedes GL63 SUV, alongside the muddy shoes and helmets he uses while mountain biking in the hills of northern Georgia. Forgotten there for a year, the paper assessed how much a top private equity firm in New York thought his company was worth: $2 billion. The CEO of Mailchimp stashed it in his personal safe along with the business cards of some America’s deepest-pocketed financiers—for his wife to shop a sale in the event of his death, but not a minute before. “That’s my retirement plan,” Chest­nut quips……

Reda more: https://www.forbes.com/sites/alexkonrad/2018/10/08/the-new-atlanta-billionaires-behind-an-unlikely-tech-unicorn/

 

 

 

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