Be a Top Notch PM Using Data Science by Farfetch Product Leader, Sofia Pitta
Almost 90% of executives agree that Al represents an opportunity, but a mere 18% have tried to use the technology to general revenue.
1. Why should you care about Data Science as a PM.
Let's first understand what is a Data Science problem.
This a deterministic problem: for this pair of jeans, we will always get the same recommended box (it behaves in a predictable manner).
Some problems (many!) are solved by Data Science. Some are not.
2. When should you use Data Science.
Not every problem related to data is a Data Science problem. A good thumb rule is "If a problem can be solved in Excel, you dont need a Data Scientist to handle it."
Data Science/Al products are automated systems that learn complex patterns from historical data, and based on those patterns make predictions on unseen data, to make or recommend business decisions (customer-facing/technical).
- Your problem is complex.
-There are patterns to learn.
-There's historical data to learn from/data is available.
-Unseen data follows the patterns of the training data.
-It's at scale.
-Changes across time.
As a PM, you should understand if it is worth investing in DS (i.e. if the cost-benefit equation makes sence).
3. How can a PM contribute to a Data Science team/product?
-Clearly define the problem & the why.
-Measure the value added to the business/customer.
-Help your team finding high-impact problems. (Where can you automate time-consuming manual processes? Where is the friction in your product? What are other companies doing out there?)
-Run a feasibility check.
-Start small (before knowing if you should go big).
-Identify risks upfront.
-Make DS products impactful.
-Be the advocate & connect the dots.
Recommended articles:
-"What you need to know about product management for AL"
(Peter Skomoroch and Mike Loukides, 2020)
-"Everything We Wish We'd Known About Building Data Products"
(Dj Patil and Ruslan Belkin)
-"Spotify's Discover Weekly: How machine learning finds your new music"
(Sophia Ciocca, 2017)
-"Using Machine Learning to Predict Value of Homes On Airbnb"
(Robert Chang, Airbnb Engineering & Data Science, 2017).
Sofia Pitta, Farfetch Product Leader