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One of the biggest reasons for data science project failure is poor problem framework, which can be easily mitigated by early intervention.

You must have come across the problem by working on various data science projects generally companies or startups take which later get scrapped or problem statement changes by some upper management or client interventions or due to lack of desired result or incomplete data. I have read a good article from the MIT Sloan management review that highlights some of the key points to tackling similar problems and thought to share my viewpoints on the same [1]. The failure rate of various data science initiatives is really high ā€” often estimated at approx. 70ā€“80% [1]. (This is consistent with PMIā€™s project failure estimates. - Greg Morris)

As per my experience various reasons for the same can be attributed to :

How to Move Towards Better Problem Definition?

Better Problem definition keeps checks on the expectations of stakeholders and it saves a lot of time by reducing unnecessary iterations and creates a better understanding of the product for the developer, analysts, data scientists, and product managers. Involving someone who speaks the language of both data and business is super useful in this process, they become a bridge between business teams and data science teams so they are the ideal people to take responsibility to enforce certain principles that are applied during the problem definition process. Some of the principles are mentioned below :

Please keep in mind, Leaders should ensure the following objective need to be fulfilled before moving to the solution: