Data Science is More About the Concerto than the Stradivarius
Value Area: Financial Analytics/Data Science
The Work of a Master
Antonio Stradivari (1644-1737) , the legendary Italian luthier, created extraordinary stringed instruments, having been coveted by professional musicians for centuries. The superior performance of his instruments have been the topic extended debates by the specialized artisans familiar with his craft. Aspects of his designs, methods and materials have been identified as responsible for the unique sound of his instruments. Beyond the geometry and physics of his design choices, there remains a mysterious aspect to his work making it special. In all, there are less than 1000 surviving Stradivarius’ in exisitance.
To audiences listening to music, the subtleties of the sound produced by a Stradivarius are illusive. While listening to the great concerti of Beethoven, Tchaikovsky or Brahms, the melodic flow of the music and the skill of the soloist come to the forefront. The instrument is part of the experience, in fact, it is a means to an end, not the narrative.
The Common Data Science Debate
Go to any number of Data Science portals and observe the dialog. It won’t take long to find multiple discussion of the elements of “authentic” data science. You’ll find lists and lists of competencies:
K-means clustering
Bayesian Methods
Markov chains.
et al.
Quite frequently, the participants are students, academics or those working on very specialized problems. The true context of opinions goes unstated. One walks away the distinct impression that competent Data Science is the sum total of all these elements. Not unlike the math and physics of a Stradivarius.
The truth is that the manifold methods of Data Science are either small improvements to an existing theme or created for a special class of problem. The usefulness of all these methods to common analytic studies goes unstated. In the end, the concerto is ignored.
Most Data Scientist specialize in the violin.
Focusing on the Business Concerto
In the present metaphor, the audience of the business leader is tuned into the melodic flow the music (data). How does the assembling of notes (data points) in a specific kind of way create the awareness of other artistic (business) frames of experience? The means of creation is much less important than the music.
Businesses need a kind of Data Science that focuses on the business.
It takes specialized business experience to become familiar with small business data and imagine the kind of useful melodies which can be created to create value. The expertise lies not in the subtleties of the analytic methods as much as understanding what melodies need to be played. In many cases, one does not required the most sophisticated or avant-garde method to evoke music of real value. Mastery lies in imagining how the existing data can be put to best use to create growth and improve earnings.
Stillwater Group LLC has years of experience with small business data and help create your concerto.