How Much Data Science Do You Really Need?
How Much Data Science Do You Really Need?
How much data science do you need to make sure your big data project gets off the ground? Let's find out!
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Data science is an interesting concept as big data becomes more important over the next few years. Some people believe that most big data projects will never get off the ground in the next few years. The reason for this is that there’s not enough analytical expertise within the project.
So how much data science do you need to make sure your big data project gets off the ground?
A Major Shortage of Data Experts
Data science experts are the people who will take the data gathered and turn it into something usable. Despite the exponential growth of data science and the cloud industry, it’s amazing how many employers can’t even make sense of spreadsheets with clear data presented on them. With data becoming cheaper and more accessible than ever before and competition rising (though Mark Hurd thinks Oracle's "all-in" strategy will win the cloud battle), more and more companies require data science experts.
Current projections reveal that there’s a major shortage of data experts in the US today. And this isn’t expected to remedy itself anytime soon, leaving lots of companies with floundering data gathering efforts.
The Right Type of Data Science
Data science is commonly confined to gathering and reporting. If you sell vape pen batteries or consulting services for instance, that means gathering data on your target market and clients. This is one way of managing data, but data experts must go further than this. Companies must demand they go further than this. It’s where companies are making mistakes because they’re using yesterday’s reporting methods.
This underlines the importance of data science experts in companies. A data science professional will also investigate optimization, data storytelling, and scoring in order to predict customer behavior the best they can. It’s never been more important to be able to take the extra step.
No company can do without an expert in data science.
But They Need the Right Position
It’s not enough to bring in someone who’s proficient in data science. They’re not necessarily knowledgeable about your business or its customer base. You need to make sure they’re placed in a position where they’re supported. Managers need to be communicating exactly what they need.
Therefore, this discussion isn’t just about the need for a data science expert it’s about teaching your employees about big data and how it can be used.
There’s always the danger of a data science expert solving the wrong problem. It’s the greatest type of inefficiency to hit a company. You can do a lot of things with data, but it’s not necessarily contusive to the overall problem the company is trying to solve.
How Do You Solve This Problem?
Big data must be fully integrated into the company’s structure, and that includes any professionals brought in to aid with the analyzing of said data. A team-based approach is necessary to achieve success. Without this it’s going to be extremely difficult for the data section of a business to fit in with the rest of a business’s operations.
In other words, the focus must be on the people behind the tools, as opposed to adopting a sort of tools-based approach.
What Do Employers Need to Do?
Employers need to look beyond the big data part of their company exclusively. For example, if a company sells iPhones they could have unique obstacles like inventory management, device repair and accessories. Each of these items correlate to the overall picture and drive revenue.
That doesn’t mean managers need to become data experts themselves. They need a primitive understanding of how data works so they know exactly what data science experts are contributing to them. This will help to properly integrate them into the company’s overall structure.
A basic course or training day can be enough to teach people about the value of data. Remember that many employees will have never encountered the concept of data before, so some basic lessons could be required.
How Much Data Science Is Really Needed?
This is the wrong question to ask because it implies that data science makes up just one part of the company. If you see data as independent of everything else your project is sure to fail. It must be integrated into every department and every team leader should understand the value of data.
Conclusion – Get Ready for Data
Starting with data early will give you an advantage over your competitors. It’s never been more important when it comes to the success of your company.
How will you use data science today?
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