Many of the biggest tech trends in data analysis can be seen as increasingly sophisticated answers to the question, "How do we monetize data?" π§΅π 
The first answer to this question was the buzzword BIG DATA. People thought all you needed was a lot of data, didn't matter what kind, and it would basically monetize itself. Unfortunately, this was incorrect. So the next question became "How do we monetize lots of data?" 2/9
The answer to this question turned out to be the next buzzword. DATA SCIENCE. At this point, people still thought data was inherently easy to monetize so they figured anybody could do it. This turned out to be wrong as well. So the new question became... 3/9
"What kinds of data scientists are good at monetizing data?" The answer was UNICORNS. These were a kind of magical data scientist who were amazing at turning data into monetizable insights. The only problem is people weren't sure what unicorns looked like. 4/9
Some people thought data science unicorns were full stack data scientists, data scientists that could work at all stages of monetization, from exploration to deployment. Others thought unicorns might be T-shaped data scientists, generalists with a focused specialty. 5/9
The current consensus seems to be that data science unicorns, much like actual unicorns, either don't exist or if they do, are too rare to be the foundation of a successful business model. So now the question is "How do we monetize lots of data if unicorns don't exist?" 6/9
Let me answer that question with another question. What if the models could understand the data by themselves? This leads us to a new buzzword. DEEP LEARNING. Unfortunately, it turns out these models are tricky and require lots of skill and money to train. 7/9
So now, the question becomes, "How do I train lots and lots of models?" The answer is the current stage and the last and final buzzword. DATA ENGINEERING. This is where we are today. 8/9
So that's all we know so far about how you make a billion dollars with data:
- Get a lot of it
- Get some data scientists (unicorns if possible)
- Get some data engineers
- Train a lot of deep learning models
- ???
- $$$$$
9/9
- Get a lot of it
- Get some data scientists (unicorns if possible)
- Get some data engineers
- Train a lot of deep learning models
- ???
- $$$$$
9/9
If this thread helps you make a billion dollars, I don't ask for much just a 1% share...or if you like this kind of content and want to support it, follow me and like and retweet the thread!
β’ β’ β’
Missing some Tweet in this thread? You can try to
force a refresh
γ
