Any data you have about the business describes some aspect of the behavior of this complex system.

about 1 year ago | From Medium | Author: Rama Ramakrishnan

It is typically asked by starting data scientists, analysts and managers new to data science.
Their bosses are under pressure to show some ROI from all the money that has been spent on systems to collect, store and organize the data (not to mention the money being spent on data scientists).

Sometimes they are lucky — they may be asked to solve a very specific and well-studied problem (e.g., predict which customer is likely to cancel their mobile contract). In this situation, there are numerous ways to skin the cat and it is data science heaven.

But often they are simply asked to “mine the data and tell me something interesting”.

Where to start?

This is a difficult question and it doesn’t have a single, perfect answer. I am sure experienced practitioners have evolved many ways to do this. Here’s one way that I have found to be useful.

Borrow an analogy from Andy Grove’s High Output Management, complex systems are black-boxes and an insight is like a window cut into the side of the black box that “sheds light” on what’s going on inside.
So the search for insight can be thought of as the effort to understand how something complicated really works by analyzing its data.

But this is the sort of thing that scientists do! The world is unbelievably complex and they have a tried-and-tested playbook to gradually increase our understanding of it — the Scientific Method.

Before you explore the data, write down a short list of what you expect to see in the data: the distribution of key variables, the relationships between important pairs of them, and so on. Such a list is essentially a prediction based on your current understanding of the business.

Now analyze the data. Make plots, do summaries, whatever is needed to see if it matches your expectations.
Is there anything that doesn’t match? Anything that makes you go “That’s odd” or “That doesn’t make any sense.”?
Zoom in and try to understand what in your business is making that weird thing show up in the data like that. This is the critical step.

You may have just found an insight into the business and increased your understanding*.
Here’s a real example. A few years ago, we were looking at transaction data from a large B2C retailer. One of the fields in the dataset was ‘transaction amount’.

Before “flipping the page”, pause for a few seconds to guess what sort of things you would expect to see. You may find that this increases the contrast and you are better able to spot interesting things in a sea of numbers.

       

What your peers are reading!

When a company understands its users as well as purple does, it feels like they have earned our trust
When a company understands its users as well as purple does, it feels like they have earned our trust
Added 12 months ago | As appeared first on Prototypr | Author: Justin Ramedia

Not long ago, I was trying to watch a video on YouTube. I got the expected “5-second till skipping” countdown and had my mouse hovering over the skip link, but the video was interesting. I laughed, so I figured I’d give it another few seconds to see what the product was all about. I ended up watc...  ...Read more


Companies looking to build consumer habits should know that monetization is a result of engagement .
Companies looking to build consumer habits should know that monetization is a result of engagement .
Added 12 months ago | As appeared first on Medium | Author: Nir Eyal

According to the New York Times, when Page looks at a potential company to acquire, he wants to know if the product is, like a toothbrush, “something you will use once or twice a day.” Page clearly understands habits. As I wrote in my book, “Hooked: How to Build Habit-Forming Products,” frequent...  ...Read more


When a startup company is visualizing their product, they tend to forget the moments a user has to wait.
When a startup company is visualizing their product, they tend to forget the moments a user has to wait.
Added 12 months ago | As appeared first on Hackernoon | Author: Wayne Chang

Contrary to MVPs, where the goal is to get something barely usable out the door and into the market for initial feedback, an MLP takes the opposite approach, treating, among other things, the first-time experience of a new user very seriously. This is the first time they’ll see your product, the...  ...Read more


Working for free is OK in the early days, but later, it gives you an excuse to just “do your best”.
Working for free is OK in the early days, but later, it gives you an excuse to just “do your best”.
Added 12 months ago | As appeared first on Medium | Author: Jason M. Lemkin

What are the Top 10 things I’d tell myself to do better, if I could go back in time? My top list: Slow down big decisions — when you aren’t sure. You have to move fast and break things, but if the pit in your stomach says “maybe don’t do that” — slow that decision down. My biggest mistakes ha...  ...Read more


Launching is hard work, but if hyperlocal marketplaces works in one market, then it will work in hundreds more.
Launching is hard work, but if hyperlocal marketplaces works in one market, then it will work in hundreds more.
Added 12 months ago | As appeared first on andrewchen | Author: Andrew Chen

How to build a billion dollar digital marketplace – examples from Uber, eBay, Craigslist, and more Marketplaces are easily underestimated When marketplaces get big, they can get really big. Some of the biggest tech successes ever – eBay, Airbnb, Alibaba, Uber – are marketplaces worth ...  ...Read more


If you release your product too early, users may write it off as not good enough and getting them back may be difficult.
If you release your product too early, users may write it off as not good enough and getting them back may be difficult.
Added 12 months ago | As appeared first on cbinsights | Author: cbinsights

From lack of product-market fit to disharmony on the team, we break down the top 20 reasons for startup failure by analyzing 101 startup failure post-mortems. WHERE IS THIS DATA COMING FROM? Start your free trial today Email Email SIGN UP After we compiled our list of startup failure post-m...  ...Read more


Top Mobile App Development Companies

Concentric Sky Company Profile, Apps, Reviews   
Concentric Sky

We help our clients turn ideas into applications that make sense. Our comprehensive, in-house team will use the power of design and technology to bring your ideas to life. We specialize in mobile a...more

Employees: 50
Founded: 2005
Services:   App    Integration    Platform    Design    Middleware   
 Locations

Eugene, US

inqbarna Company Profile, Apps, Reviews   
Inqbarna

We dream apps, we imagine apps, we design apps, we create apps. We live apps, we love apps! Have an app idea? Bring it to us!.more

Employees: 0
Founded: 2013
Services:   App   
 Locations

Barcelona, Spain

ThinSlices Company Profile, Apps, Reviews   
Thin Slices

Starting from an innovative idea, we deliver all the required technology to bring it to market: website, cloud powered application platform (Amazon AWS, Microsoft Azure) and mobile applications (iP...more

Employees: 50
Founded: 2010
 Locations

Iasi, Romania

RapidValue Company Profile, Apps, Reviews   
Rapid Value

A leading provider of end-to-end enterprise mobility solutions to emerging product start-ups, Fortune 500, Fortune 1000 and Multi National Companies. .more

Employees: 200
Founded: 2009
Services:   App    Integration    Quality Assurance    Design   
Are you sure, you can find a capable, trustworthy & affordable mobile app developer, all by yourself?

Looking to Build a Mobile App?

Here are some of the best apps built by developers from our network.
Wardrobe Organizer
  Wardrobe Organizer
by Zco Corporation
App    Android    iOS   
 7801
        
WORK[etc] by ThinSlices - App Development Company in Iasi, Iasi County, Romania
  WORK[etc]
by ThinSlices
Android    iOS   
 6141
        
THE ULTIMATE SALES TOOL - Audi by Mutual Mobile - App Development Company in Austin, Texas, United States
  THE ULTIMATE SA...
by Mutual Mobile
iOS   
 4249
        
Brickstr by DevelopmentNow - App Development Company in Portland, Oregon, United States
  Brickstr
by DevelopmentNow
Android    iOS   
 4438
        

Post Your Project

Vishruth-ContractIQ

Hi!
I'm Vishruth. My colleagues & I work everyday to make ideas see the light of the day.

Your ideas deserve the best developers. We’ll find your best match within days. It’s a promise. Talk to you soon!

     
About •  Careers •  How it works for Developers •  FAQ •  Contact •  Blog •  RSS

© 2012 - 2017 ContractIQ   Terms of Service   Privacy Policy