Roses are red
Violets are blue
Without big data
Your company is through
It might surprise you to know, that poem was written by a skilled (and charming!) data scientist. I’d introduce you to this analytics heartthrob, but they’ve already found their perfect match in a company that has them leveraging big data for powerful insights.
What to do? Even if that data scientist is taken, there’re more fish in the sea, and we know your perfect catch is out there.
The reality is that big data has become an essential resource to gain a competitive advantage. Sixty-five percent of business leaders say companies risk obsolescence if they don’t embrace big data, according to CIO Insight.
Marrying your business priorities with a data scientist not only sparks competitive passion in your business, it ensures you survive in this big data crazy world!
1. We make good decisions
I am sure you think you make good decisions. In fact, 58 percent of businesses, according to the Business Application Research Center (BARC), base more than half of their regular business decisions on gut feel, a hunch, or their experience.
But with a data scientist at your side—equipped with business intelligence and data analytics tools—you’d fare much better. Even if your entrepreneurial sixth sense is at the levels of a capitalist genius, your gut checks will never be as fast or as agile as a data scientist who knows their way around a dashboard.
RECOMMENDATION: The ability to make decisions based on real-time data—the moment it’s reported—is a major leg up over the competition. Join forces with a data scientist and start using analytics to be 5 times more likely to make faster decisions than companies relying on their natural talents alone; you are stronger together.
2. We keep our data tidy
Your business stands to lose at least 20 percent of revenue because of poor quality data, according to Kissmetrics. A major reason data spoils and becomes poor quality is because it is disorganized, mislabeled because of inconsistent tagging, or sprawled and forgotten across various legacy systems, repositories, or databases.
Data scientists are extremely effective at sorting out your big data messes, bringing disordered data together, and shedding light on dark data for use in analytics. This is a major area of opportunity, as only 16 percent of companies characterize the data they are using as “very good.”
RECOMMENDATION: A data scientist prepares data for analysis by connecting, converting, and integrating data across your organization, often from multiple sources. This allows your business to see the whole picture of your information assets, and from that vantage point, make an informed decision.
3. We’ve got skills to pay the bills
A data scientist is armed with advanced knowledge in data science, statistics, as well as query languages such as SQL— creating a lethal combination of highly sought after analytical expertise. This is no understatement: According to the University of California, Riverside, researchers project a need for 1.5 million more analytics jobs in the future.
RECOMMENDATION: 43 percent of companies report that their lack of analytical skills is a key challenge. Pickup a data scientist and add their well-worked expertise—88 percent of data scientists have a masters degree and 46 percent a PhD—to fill in for these critical blindspots in your business.
4. We’re on the same page as you
You ever connect with someone so completely that you begin finishing each other’s sentences? Data scientists do that, but with your customers.
One of the most important applications of big data analytics is using gathered data to trace trends and make market predictions. These insights guide important decisions such as when to bring a product to market and on what customer segment to focus the most promotional efforts, and they can even identify points of innovation and future opportunities before they’re obvious.
RECOMMENDATION: 86 percent of predictive analytics users describe the technology as conferring a positive benefit on their bottomline, as reported via a study by Forbes Insights. To use this technology to its fullest potential, make eyes at a data scientist and drive your business forward with clear-sight toward the future.
5. We can be your moral compass
Data scientists are your company’s data ethics compass. They, along with data protection officers, are vigilant to ensure their analysis and manipulation of big data doesn’t tread over the data privacy of its owners (customers, suppliers, internal staff, etc.).
The general data protection regulation (GDPR) and regulations like it have increased the importance of regulatory compliance and data privacy. No longer is compliance seen only as a significant to-do to keep your big data project on the right side of the law, but it’s now a legitimate angle for competitive advantage.
RECOMMENDATION: According to GetApp research, 74 percent of small businesses view their data privacy compliance efforts as ordinary or average. Look to a data scientist to help make your commitment to responsible analytics one in a million, and stand out among your rivals.
6. Data scientists are so hot right now
Data scientists are one of the hottest hires in a variety of industries from healthcare to financial services. If a data scientist catches your eye, you’ll be vying against a legion of would-be suitors attempting to hire them.
RECOMMENDATION: Harvard Business Review says that a data scientist is the sexiest job of the 21st century. If you find a data scientist you fancy, you better “put a ring on it”—in a manner of speaking—before some other company beats you to it.
7. Behind every great business is a data scientist
The final reason to fall in love with a data scientist: Data scientists will be the architects of modern business.
It’s been said that today every company is a data company, and if that’s true, data scientists have become a critical hire for almost any business.
RECOMMENDATION: Businesses that are leaders in their respective industries in the use of data-driven decision-making were estimated to be around 5 percent more productive and 6 percent more profitable than competitors; a data scientist is a key to unlock this potential.
I don’t know about you, but I’ve fallen head over heels.