Enterprises Are Struggling to Realize The Value of Their ML Investments
Over the last 10 years, most large enterprises have invested in data science skills and tools in an attempt to emulate the business innovations pioneered by digital natives such as Facebook, Google and Uber. While many of these organizations have successfully increased their development output of advanced analytics and machine learning, they still struggle to consistently move those models into their businesses at scale. In fact, McKinsey estimates that 90% of data science investments never make it into production. The graphic from McKinsey below states that there is a significant and measurable advantage in profit margins available to enterprises who are successful in consistently deploying models across their business. No value is created by Data Science unless their models are used by the business.