This paper introduces the practice of Model Management, an organizational capability to develop and deliver models that create a competitive advantage.
Today, the best-run companies run their business on models, and those that don’t face existential threat. The paper explains why companies that fail to run on models are falling for the Model Myth—the assumption that models can be managed like software or data. Models are different and need a new organizational capability: Model Management.
- Defining a model
- Why models matter for businesses
- Why companies fall for the Model Myth
- A framework for Model Management
- Practical steps to get started
The paper is intended for anyone in a data science organization, or anyone who hopes to use data science as a key source of competitive advantage for their business.