3 Essentials to Make Better Decisions

3 Essentials to Make Better Decisions: Data science is only one of them. Aside from great vision, they all decided on how they do things, leading them to their triumph.

Have you ever wondered:

• How did Google dominate 92.1% of the search engine market share?
• How did Facebook achieve 74.1% of social media market share?
• How did Microsoft win over 77.7% of the Desktop OS market share?

Aside from great vision, they all decided on how they do things, leading them to their triumph. Google decided to focus its search engine to provide better user experience, instead of monetization. Learning from the early adopters, Facebook decided to plan its growth, time its entry, and manage its public relation wisely. Microsoft decided to build Windows with compatibility in mind, reducing future issues so they can innovate even more.

They all made great decisions, bet on it — and won.

As one who’s in the data science field, being data-driven is a must. Deciding our actions based on data is a normal thing to do. It’s in the job description after all. Yet, my mentor once said, “be more than a data scientist”. I figured out what it means later on. Not all problems can be solved using data. Maybe it can, but is it the best approach?

Other than data science and analytics, 2 more essentials could help us form better decisions. Finding the balance of all three is important since our decisions defines our future. Whether we want to solve personal matters, build a product, or start a business — we have to decide our next step.

Take a look at this graph. Imagine you have built a startup. These bars represent your monthly product sales.

1. The first 8 bars show stable growth, which is good.
2. You experiment and manage to growth hack it by 3 times next month.
3. You’re happy, but have no absolute idea of what has happened.

startup data-science personal-development decision-making self-improvement data analysis

Data Science and Analytics market evolves to adapt to the constantly changing economic and business environments. Our latest survey report suggests that as the overall Data Science and Analytics market evolves to adapt to the constantly changing economic and business environments, data scientists and AI practitioners should be aware of the skills and tools that the broader community is working on. A good grip in these skills will further help data science enthusiasts to get the best jobs that various industries in their data science functions are offering.

Data science is omnipresent to advanced statistical and machine learning methods. For whatever length of time that there is data to analyse, the need to investigate is obvious.

The agenda of the talk included an introduction to 3D data, its applications and case studies, 3D data alignment and more.

The fundamental role of a Data Scientist is to support decision-making based on data. For that to be accomplished a data-driven culture has to be nurtured and that status quo challenged.

A data scientist/analyst in the making needs to format and clean data before being able to perform any kind of exploratory data analysis.