29 January 2018

Data Science: Data Products (Definitions)

"Broadly defined, data means events that are captured and made available for analysis. A data source is a consistent record of these events. And a data product translates this record of events into something that can easily be understood." (Richard Galentino; et al, "Data Fluency: Empowering Your Organization with Effective Data Communication", 2014)

"Self-adapting, broadly applicable economic engines that derive their value from data and generate more data by influencing human behavior or by making inferences or predictions upon new data." (Benjamin Bengfort & Jenny Kim, "Data Analytics with Hadoop", 2016)

"Data products are software applications that derive value from data and in turn generate new data." (Rebecca Bilbro et al, "Applied Text Analysis with Python", 2018)

"[...] a product that facilitates an end goal through the use of data." (Ulrika Jägare, "Data Science Strategy For Dummies", 2019)

"Any computer software that uses data as inputs, produces outputs, and provides feedback based on the output to control the environment is referred to as a data product. A data product is generally based on a model developed during data analysis, for example, a recommendation model that inputs user purchase history and recommends a related item that the user is highly likely to buy." (Suresh K Mukhiya; Usman Ahmed, Hands-On Exploratory Data Analysis with Python, 2020)

"A data product is a product or service whose value is derived from using algorithmic methods on data, and which in turn produces data to be used in the same product, or tangential data products." (Statistics.com)

"A data product, in general terms, is any tool or application that processes data and generates results. […] Data products have one primary objective: to manage, organize and make sense of the vast amount of data that organizations collect and generate. It’s the users’ job to put the insights to use that they gain from these data products, take actions and make better decisions based on these insights." (Sisense) [source]

" A data product is digital information that can be purchased." (Techtarget) [source]

"A strategy for monetizing an organization’s data by offering it as a product to other parties." (Izenda) 

"An information product that is derived from observational data through any kind of computation or processing. This includes aggregation, analysis, modelling, or visualization processes." (Fixed-Point Open Ocean Observatories) 

"Data set or data set series that conforms to a data product specification." (ISO 19131)

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