Enterprise Data Science
I expect that the art of enterprise data science will evolve more and more. My university lectures are twisted every year more towards linking enterprise need to data science practice (content will be collect at www.kienlefrank.de).
'Enterprise data science supports effective and efficient decisions within a company’s value chain'
Summary of my definition:
Data science is the art of delivering value through data. Delivering this value to a customer often requires a complex interaction of business understanding, mathematics, and computer science practice.
An enterprise is defined as any human endeavor involving people, its purpose to serve a customer, where various kinds of platforms support each activity. The customer value describes the heart of an enterprise objective while delivering the value is often done via services and products affecting humans and their environment.
Enterprise data science is focusing on enterprises producing products and their related services. These enterprises often have a complex value chain.
A value chain is a set of activities that an enterprise performs to deliver a valuable product (i.e., good or service) for the market (source wiki)
Various definitions exist for a value chain, for simplicity, in this context it is defined with a focus on manufactured goods.
- Product Development
- Procurement
- Supply Chain
- Manufacturing
- Marketing / Sales
- Lifecycle management
- Customer Services A value chain model describes the mechanism to execute the processes.
In each building block within a value chain, many decisions are carried out, most often by humans.
- Which product should we design
- Where to source the components
- Should we produce product A or B this week
- How much should I give a discount
- Should we phase out the product
- Which customer to serve when and how
We have to make decisions over and over again, and each decision affects the future. Typically we distinguish between:
- the strategic decisions with a focus on future years,
- tactical decisions with a focus on the next months,
- operational decisions with a focus within the day or week
Data science has the goal to support better decisions through data.
Supporting effective decisions through data means often supporting a human with the help of decision support systems.
Supporting effective decision means most often the push towards automation or automation support.
** Enterprise data science supports effective and efficient decisions within a company’s value chain. **