Successful data science projects hinge on effective management and strategic alignment, as evidenced by the fact that 85% fail to progress beyond initial concepts.
Defining clear, measurable goals and collaborating with business leaders in the scoping phase are critical to setting the groundwork for successful data science projects.
A thorough inventory of internal datasets and an assessment of existing capabilities can illuminate gaps that need addressing for successful data science operationalization.
Each data science project requires a careful balance between expected business value and the incurred expenses related to personnel, technology, and services.
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