The TWIML AI Podcast (formerly This Week in Machine Learning & Artificial Intelligence) Organizing for Successful Data Science at Stitch Fix with Eric Colson - TWiML Talk #257
Apr 26, 2019
Eric Colson, Chief Algorithms Officer at Stitch Fix, shares insights from his journey in data science, emphasizing the need for a robust organizational framework. He reveals three key principles for structuring data science teams that enhance decision-making. The conversation dives into the role of data science in recommendation systems, inventory management, and demand forecasting, showcasing how over 800 algorithms optimize operations. Colson also discusses the importance of collaboration and adaptability in developing innovative solutions.
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The Unexpected Call
- Eric Colson, initially uninterested in leaving Netflix, received a call about Stitch Fix.
- Intrigued by their unique approach to clothing recommendations and inspired by founder Katrina Lake, he became an advisor.
The Power of Anecdotal Evidence
- Colson's wife and other women's positive experiences with Stitch Fix, combined with the compelling data, convinced him of the company's potential.
- Witnessing how the service changed their shopping habits solidified his belief in its transformative power.
Algorithms at Stitch Fix
- Stitch Fix uses algorithms throughout its operations, from recommendations to inventory management.
- The higher cost of incorrect recommendations, unlike Netflix, incentivizes algorithmic accuracy and risk-taking.