iQGateway’s engagement model for successful business relationships
Years of experience spread across various industry verticals, we have learnt a great deal in terms of partnering with our clients and building successful business relationships.
The core philosophy – We are in it together as Partners – is extremely important that we ensure the client’s interest is well-protected at all times.
Data Science projects, like any other projects, have their own risks and are prone to failure. There are many reasons why a data science project can fail. How we learn from failure and not lose any money in the bargain is most important.
Data is the most important input for a data science project. Without data there is no project. Some major challenges faced around data are:
1. Availability of data
2. Quality of data
3. Size of data
4. Source of data
The business problem, next in importance to the data, needs to be well-defined. It should:
a. Not be a motherhood statement or wish list
b. Have a binary answer like yes/no, true/false, pass/fail, etc.
c. Be defined by the person who faces it
d. Answer to the problem should have a specific business use
It is the people who tie data to the problem and help in getting the solution. A good team understands the problem and comprises:
a. One sponsor
b. One decision-maker
c. Cross functional team members
d. Beneficiaries of the solution
Technology is only a means to the end and not really the core issue. Decision around technology
a. Should consider that data science is not a technology problem
b. Should not hinder the solution
c. Should allow for flexibility
d. Should be taken in the end
Incremental gain makes small-structured investments in a data science project with clear understanding of:
Incremental gain is a partnership-based approach where:
What outcome to expect
The client and iQGateway work for the benefit of each other.
What risks to mitigate
It provides flexibility to stop at a certain milestone, if result(s) not as per business needs.
Safeguarding the organization from further failure and financial burden.
It provides direction for future projects