S1 - 03 | Understanding Data Science in Business

What is a data product? In this episode we talk about the types of decision support products (insights and foresight) the importance of compelling data stories, and dealing with biases and uncertainties. We touch on the differences between DataOps and DevOps, the data management lifecycle, and the Dunning-Kruger effect.

Humberto shares insights from his diverse experience across industries like media, telecommunications, and insurance, emphasising the need for skepticism in data science and for an underlying culture of learning.

The episode wraps up with practical advice on when to hire data scientists and how to manage data science projects effectively.

00:45 Meet Humberto

00:52 Understanding Data Products and Analytics

04:48 The Role of Experimentation in Data Science

13:01 Challenges in Data Science and Business

17:34 The Intersection of Data Science and Engineering

22:26 The importance of prediction accuracy

28:57 The Dunning-Kruger Effect in Data Science

35:06 Are you ready to hire a Data Scientist?

45:52 Conclusion and Final Thoughts