Day 14 in MIT Sloan Fellows Class 2023, Data, Model, Decisions ~ DMD -1

Data, Model and Decisions is one of the typical MIT courses.

We learn a lot of statistical analysis and optimization through this course.

We had the first team assignment and this assignment is awesome. 

We work for the restaurant chains and our clients want to sell their restaurants to the fund. Our mission is to develop the robust and accurate model , but it should predict higher profit. In our data exploration process, we face a trade-off between scientific justification and business incentives. The final output is a letter and memo for the fund. 

This case is really reflecting the reality of data science. Data scientists in the business corporations never ever chase truly dependent model. We need to understand business requirements first and resonate these requirements by data. 

However, among the many good leaders, data scientists struggle between their sincerity about data modeling and their storytelling to drive business decisions.
I think this is a great case assignment that shows us how powerless data is in the face of decision-making and, conversely, how much we decide things intuitively and second-guess and second-guess our reasons for doing so.