Data is a Fact of Life. What about data-facts?
A “Fact of Life” seems to be something that isn’t debated but just accepted. Only a few people, like philosophers, investigate the actual truthfulness of these facts. Others just accept them as they are and do not ask further questions. The latter is far more effective in a business context. The first seems to suited for science.
What about the term “Data Science”?
Is that then about exploring the truthfulness of data-facts? If so, is it then actually a suitable profession from a business perspective? Or only a scientific add-on for those companies that can afford these expensive scientists?
To find out if some data-fact is actually true, you need to experiment in a lot of different contexts. This is very costly and not accessible for many small to medium sized companies.
What can you do?
Trust the knowledge that’s invested inside your human workforce
Start by making explicit the most important decisions you make on a daily basis.
Determine which data-facts you need to make these decisions more effective and efficient.
Design and implement your measurements and collect your data points.
Store them in form of a network of data-facts, easily searchable and interpretable (for example using a graph database)
Use these data-facts with every subsequent decision you take and measure and store the effect of your decions again as data-facts.