What every product manager needs to know about data science (ProductCamp Boston 2016)
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The document outlines essential insights for product managers regarding data science, emphasizing that data science is about actionable insights rather than just information or technology. It discusses the importance of data products, communication, and data science literacy in organizations, as well as the critical role product managers play in the success of data science initiatives. Key takeaways include starting with core competencies, recognizing the challenges of data products, and improving organizational data literacy.
What every product manager needs to know about data science (ProductCamp Boston 2016)
- 1. bittenlabs © 2016 What every product manager needs to know about data science Trevor Bass Bitten Labs trevor@bittenlabs.com http://bittenlabs.com
- 2. bittenlabs © 2016 Bitten Labs • Data science management consultancy, education provider, innovation lab • Specialize in early and growth stage data science competencies Trevor Bass • Data scientist with a decade of experience building successful products and teams in a variety of industries
- 3. bittenlabs © 2016 Source: xkcd.com
- 4. bittenlabs © 2016 Source: marriedtothesea.com
- 6. bittenlabs © 2016 “We are drowning in information but starved for knowledge.” - John Naisbitt
- 8. bittenlabs © 2016 “...since chocolate consumption has been documented to improve cognitive function, it seems most likely that in a dose-dependent way, chocolate intake provides the abundant fertile ground needed for the sprouting of Nobel laureates.”
- 9. bittenlabs © 2016 From absurdist scientific humor publication top medical journal: Messerli, Frank. “Chocolate Consumption, Cognitive Function, and Nobel Laureates.” The New England Journal of Medicine 367 (2012): 1562-1564.
- 10. bittenlabs © 2016 Quantitative arguments making people’s brains turn off
- 11. bittenlabs © 2016 #1 Data science is about insight (e.g. not information, not technology)
- 12. bittenlabs © 2016 +data +science Source: Drew Conway
- 14. bittenlabs © 2016 #2 The best insights are actionable
- 15. bittenlabs © 2016 Source: xkcd.com
- 16. bittenlabs © 2016 Goal: data value
- 17. bittenlabs © 2016 #3 Data products are awesome (and your product can probably be one)
- 18. bittenlabs © 2016 What is a data product? • Data products: products that derive substantial value from analytics • Data products ≠ information products Example • Information product: Google Analytics • Data product: Google Search
- 19. bittenlabs © 2016 “The future belongs to the companies and people that turn data into products.” - Mike Loukides, O’Reilly
- 23. bittenlabs © 2016 #4 Pipes are key
- 25. bittenlabs © 2016 Better pipes > better insights
- 26. bittenlabs © 2016 #5 Start with your core competency
- 28. bittenlabs © 2016 #6 Data products are hard (you need data science help with everything, throughout the lifecycle and the organization)
- 30. bittenlabs © 2016 #7 There is a communication gap (and you may not know it, and it matters a lot)
- 31. bittenlabs © 2016 “Data science is a team sport.” - DJ Patil, U.S. Chief Data Scientist
- 32. bittenlabs © 2016 #8 Data science literacy is important and attainable (ditto for data scientists w.r.t. product literacy)
- 33. bittenlabs © 2016 Data science literacy • Solving problems with data • Data • Statistics • Visualization • Data analysis methods • Toolsets Making data science work • Applying data science • Organizing data science • Maturing analytically
- 34. bittenlabs © 2016 #9 Good PMs copy; great PMs steal
- 35. bittenlabs © 2016 #10 Data science initiatives are like startups
- 38. bittenlabs © 2016 #11 Product managers are critical (for both the product and the organization)
- 39. bittenlabs © 2016 Data science is about insight The best insights are actionable Data products are awesome Pipes are key Start with your core competency Data products are hard There is a communication gap Data literacy is important and attainable Good PMs copy; great PMs steal Data science initiatives are like startups Product managers are critical 1 2 3 4 5 6 7 8 9 10 11
- 40. bittenlabs © 2016 What every product manager needs to know about data science Trevor Bass Bitten Labs trevor@bittenlabs.com http://bittenlabs.com