It is BIG news, when an outlier, underdog and iconoclast brand becomes successful in the beady discerning eyes of accountants. However one derivative lesson of Spotify’s success in turning a profit, is not being widely discussed – that it took a data science giant, 13 years and 96 million ‘paid’ subscribers, to make a profit. Think about what that means. Ambitious business leaders, government technocrats, startup founders and investors should really start looking at data science as a long term and high gestation play. Personally, I am concerned that the ecosystem should not get impacted by the same collective disappointment of Bio-Tech in the 2000s. We probably should start thinking of data science solutions as Hydroelectric dams rather than Solar Panels. So, while setting up panels on your rooftop may take a day, the Three Gorges Dam took about 20 years to be fully operational… but it is today the largest dam in the world and the scale of the project has led to the slowing of the earth’s rotation. Lesson: BIG data science leading to BIG financial success – takes BIG time.
View this Post on Linkedin