What are the Categories of Business Cases for Data Scientists?
Analytics Insight has collated a list a things that data scientists need to be aware of during interviews
It is quite an evident fact that “data scientist” as a career opportunity is the most sought after. With the world relying on data like never before, the demand for this profession is at an all-time high. So, if you are one of those gearing up to step into this profession, you already know what is expected out of you as a candidate. When preparing for the interview process, one area that seems to be stand out from the rest is that of “business case interviews”. Here’s everything you need to know about this so that you have an edge over the rest.What are the categories of business cases?
In most cases, it is observed that the case type of questions are related to –- Whether a particular product or service should be launched
- Diagnosing a particular problem
- How to improve the services or products
- Measuring success
- Start by clarifying the goal.
- Talk about metrics to measure the success.
- Come up with an experimental design and include as many discussion points as you can. This helps in creating a good impression.
- Based on your experiment, come up with recommendations. This is the right way to end the case.
- The first step is to engage with the interviewer / audience. For example, if you are been asked to identify the root cause behind the decreasing sales, you could start off by saying that ‘the company has seen a decrease in sales. Is it because of less production or below average marketing strategies or decline in demand? Jumping straight to the approach doesn’t seem appealing.
- Next up – talk about whether the metric has changed all of a sudden or has been gradually happening over a period.
- Then, talk about the demographics – whether a particular area is observing this problem or is it the case throughout the area of existence.
- Talk about the internal problems that might have led to this situation.
- Nothing can fall in place if there’s no in-depth analysis involved. Without this, everything that you present stands weak. Go in depth as to what is required to solve the issue.
- Lastly, give a brief summary of the whole situation.
- Be specific about the features you’d want to focus on.
- Start by clarifying the goal.
- Then narrow down the scope of improvement by focusing on certain areas or features out of all.
- Explain what makes you recommend things that you just stated.