Gary Stiehr, 1904labs Practice Director – Data Engineering and Decision Science, details how 1904labs uses Data Science to help clients develop insights from their data and develop reusable algorithms containing those insights and integrate them into their operations.
Decision science, in layman’s terms, is almost the fact that it’s just how can we make decisions by looking at data. The goal is to support decision making by analyzing data using computational algorithms. I think the value of decision science for our clients is to make more personalized decisions. Often times you see aggregate data in data analysis efforts because it’s not as feasible to make those decisions on every data point for every person and so combining decision science with big data and data engineering concepts allows us to take data points on every individual that is entering into the business so that we can provide them with personalized insights. Being able to do that and have it be effective requires for us to apply the fundamentals of decision science so that we can actually learn from interactions and apply that back to the individual decision. Any company that is looking to stay modern and stay up to speed with emerging competitors would be an ideal candidate to work with 1904labs because we’re focusing on just those technologies.