You Need an Algorithm, Not a Data Scientist • ©[hbr.org]
Consider a company that is selling electronic devices. Let’s say that historically they have been selling well to companies that value their fast delivery and the quality of their product. As time passes, the competition grows and a global trend for green products arises. The profile of the company’s perfect customer slowly shifts and could go unnoticed by manually examining the market. However, those small shifts are identifiable by algorithms that continuously monitor the historical sales cycle of the company, cross-referencing it with external sources, like social media posts and newspaper articles discussing these trends, and finding correlations with the propensity to buy. Due to the size of this information base and its unstructured nature, monitoring all those delicate changes in real time becomes an almost impossible task for a human analyst.