Profit from Science Solving Business Problems Using Data, Math, and
In Profit From Science , author George Danner presents solutions to the big problems that modern business face solutions that are grounded in logic and empiricism. This book instructs business leaders in how to add the discipline and technical precision o
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Profit from Science Solving Business Problems Using Data, Math, and the Scientific Process George Danner
PROFIT FROM SCIENCE
Copyright © George Danner, 2015. Softcover reprint of the hardcover 1st edition 2015 978-1-137-47484-1 All rights reserved. First published in 2015 by PALGRAVE MACMILLAN® in the United States— a division of St. Martin’s Press LLC, 175 Fifth Avenue, New York, NY 10010. Where this book is distributed in the UK, Europe and the rest of the world, this is by Palgrave Macmillan, a division of Macmillan Publishers Limited, registered in England, company number 785998, of Houndmills, Basingstoke, Hampshire RG21 6XS. Palgrave Macmillan is the global academic imprint of the above companies and has companies and representatives throughout the world. Palgrave® and Macmillan® are registered trademarks in the United States, the United Kingdom, Europe and other countries.
ISBN 978-1-349-56997-7 DOI 10.1057/9781137472854
ISBN 978-1-137-47285-4 (eBook)
Library of Congress Cataloging-in-Publication Data Danner, George E. Profit from science : solving business problems using data, math, and the scientific process / George Danner. pages cm Includes bibliographical references and index. 1. Problem solving. 2. Strategic planning. 3. Science—Methodology. I. Title. HD30.29.D36 2015 658.4⬘03—dc23 A catalogue record of the book is available from the British Library. Design by Newgen Knowledge Works (P) Ltd., Chennai, India. First edition: September 2015 10 9 8 7 6 5 4 3 2 1
2015009664
To my amazing family. Dream big. Travel far.
Contents
List of Illustrations
ix
Acknowledgments
xi
Introduction
1
Chapter 1 Hello World
7
Chapter 2 Methods and Madness
33
Chapter 3 Data
67
Chapter 4 The Art of Science: Visualization
97
Chapter 5 Tools of the Trade: The Technology of Problem Solving
121
Chapter 6 Using Your New Superpower
145
Chapter 7 Setting the Stage: The Making of a Great Problem-Solving Team
175
Chapter 8 Implications for the Future
201
Chapter 9 Afterword
225
Notes
231
Index
233
Illustrations
Figures
1.1 1.2 1.3 1.4 1.5 1.6 1.7 2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.9 2.10 2.11 2.12 3.1 3.2 3.3 3.4
The scientific method adapted for problem solving The base case Adding the merger effect The final hypothesis The general technical architecture of a model Example data model The strategy matrix The car class The class and its instances Simulation example Two types of relationships between variables A reinforcing loop Construction of a feedback loop step by step A balancing loop Cumulative probability of the number of renters Probability distribution of revenue Data envelopment analysis example Applying a heuristic to an example route from start to stop Process flow example Data de-identification A customer table linked to a purchase history table An example graph matrix Clustering data
17 19 20 20 25 26 30 39 40 41 44 44 45 46 54 55 58 61 63 84 88 91 92
x
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Illustrations
3.5 Linear regression example 4.1 A Sankey diagram example 4.2 A treemap showing the proportional shelf space
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