What does it mean to have “skin in the game” as a data scientist?

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There are only 2 kinds of skin in the game in business. Equity and legal liability.

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THis is the best definition I have heard and definitely the best answer to this question.

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I have heard this term in terms of founders putting in their own money to a company. I have never heard the term applied to data scientists but if I had to guess it means you can't just live in a theoretical math/statistics world, you need to produce analysis and models that result in a positive business outcome.

I expect this to become the norm as companies look to justify to their management and finance for the high costs of running a machine learning or data science team (higher than average salaries, expensive tools, cloud compute expenses)

Be prepared to say things like "we released x models to production", "our models are used x thousands of times a day", "our models save x minutes a day", "we doubled our processing volume with the same staff count"

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I’d think it means that the data scientist is both responsible for the modeling, and accountable for the outcome, e.g. they are measured on a KPI their model is impacting, like sales.

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You should not just be able to create an ER model of data scientists, skins and games, but you should understand and be able to communicate how your model's application brings in cash.

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