The Balderton Podcast: Tech Investment | Venture Capital | Startup Funding

How Data Science Transformed our business | Rentify founder George Spencer & Ollie Glass

11.12.2015 - By Balderton CapitalPlay

Download our free app to listen on your phone

Download on the App StoreGet it on Google Play

As PhD data scientist Ollie Glass puts it, data science is a lot like UX/UI was a few years ago: everyone wants a piece of it, but nobody really knows how to make it work for their business. Rentify have managed to overcome that challenge, and - as Founder & CEO George Spencer explains - data science is now integral to Rentify's business.

01:17 George explains how and why he realised that there was an opportunity for Rentify to be a lot smarter with data.

02:55 Was the first though that data could aid sales? Not necessarily! The first experiment was to create an extremely smart solution for landlords.

03:40 George explains what he did wrong with data science the first time around, and what they learned for the next attempt.

06:02 Ollie describes his first interactions with George, and about the process of discovering how a data scientist can best help an entrepreneur. As Ollie says, he also needs to demonstrate that he will help bring more money into the business than his day rate!

07:50 Experimenting with data can be extremely fun... but that shouldn't distract entrepreneurs from finding out a business-purpose for data science.

08:35 Ollie has a message to fellow data scientists: if a client is asking you to do work that doesn't necessarily require a data scientist to carry it out, tell them and help them make a smarter decision

08:53 What was the first project that you collaborated on?

10:40 A word to the wise: Make sure the output is clear, useable information - rather than data that needs another scientist to interpret it

13:01 Tips for entrepreneurs on how, when and why to engage a data scientist.

14:25 Is it a challenge for a data scientist to integrate with existing work-flows and jobs

16:55 A tip to other entrepreneurs from George: you need the rest of your team to understand the purpose of a data scientist, and that is a creative role.

19:40 If a data scientist is joining the team for the short or medium term, make sure someone sponsors them inside your business, otherwise they risk being accidentally shut out.

21:00 Olly explains the questions he really likes to hear when he first meets an entrepreneur

22:50 George explains how data science has transformed his business.

More episodes from The Balderton Podcast: Tech Investment | Venture Capital | Startup Funding