PEOPLE AND PROCESSES FOR DATA MANAGEMENT AND ANALYTICSCathy ONeil, Lead Data Scientist

When do you need a data scientist?

When you have too much data for Excel to handleWhen do you need a data scientist?

When your data visualization skills are being stretchedWhen do you need a data scientist?

When you arent sure if something is noise or informationWhen do you need a data scientist?

When you dont know what a confidence interval isWhen do you need a data scientist?

Lets take a step back:Should you need a data scientist?

Are you asking the right questions?Should you need a data scientist?

Are you getting the most out of your data?Should you need a data scientist?

Are you anticipating shocks to your business?Should you need a data scientist?

Are you running your business sufficiently quantitatively?Should you need a data scientist?

So, youve decided to hire a Data Scientist (nice move!)

What do you need to get started?

Data storageWhat do you need to get started?

Data access usually through a database (payoffs for different types)What do you need to get started?

Larger-scale or less uniform data may require Hadoop access (and someone with real tech expertise to set it up) What do you need to get started?

Who and how should you hire?

A math major? Perhaps a Masters in statistics? Or a Ph.D. in machine learning?Who and how should you hire?

What should the job description include?Who and how should you hire?

Who even interviews someone like this?Who and how should you hire?

What does a Data Scientist want from you?

Interesting, challenging workWhat do they want from you?

Lots of great data (data is sexy!)What do they want from you?

To be needed, and to have central importance to the businessWhat do they want from you?

To be part of a team that is building somethingWhat do they want from you?

A good and ethically sound work atmosphereWhat do they want from you?

Cash moneyWhat do they want from you?

Further business reasons for hiring a Data Scientist

Reporting helpFurther business reasons

Reporting help

Enables you to see into data without taxing your tech team (beyond setup)Further business reasons

A/B testingFurther business reasons

Beyond A/B testing: adaptability and customizationFurther business reasons

Knowing whether numbers are random (seasonality) or require actionFurther business reasons

What-if analysisFurther business reasons

Help with business planning:

Will there be enough data to answer a given question? Will there be enough data to optimize on the answer?Further business reasons

Education for senior managementFurther business reasons

Mathematically sound communication to clientsFurther business reasons

Case Study: Stress Tests

We can learn from finance data miners are spoiled for dataCase Study: Stress Tests

You know how big changes will affect your business directionally and specificallyCase Study: Stress Tests

Stress tests allow you to combinechanges and estimate quantitativelyCase Study: Stress Tests