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More than 70 percent of the companies around the US are already working on their big plans for implementing big data project and data analytics by 2019. But what makes data science such an 'in' thing? The concept around big data revolves around how industries are judiciously using copious amount of data and using new application methods for better decision making. Some examples include computer vision, object recognition, speech recognition, self-driving cars, robots, neuroscience, and bioinformatics to name a few.
With the growing demand for data scientists in various industries, there's a huge talent gap experienced across the world. Indeed, it's quite an exciting career to hop in. In fact, in a Business Review held by Harvard, data scientist jobs are dubbed as the 'sexiest job of the 21st century' and a trending career to get into.
Why You Need Data Scientists
If you are a part of the modern business world, the growth of big data is inevitable. With businesses adopting big data analytics and depending more on it to make decisions, it is important for them to work with professional and skilled data analysts and data scientist to make available data valuable. It's becoming clear that data analysis and processing is of enormous value for an organization today, and to make sure they gain every benefit out of it, it is important that a data scientist steps into the spotlight right away.
Organizations have two options when it comes to utilizing the services of data scientists. They can either hire them or train them. As discussed earlier, the market is already experiencing a talent gap, it can be difficult for organizations to find the most suitable resource. This is where data science training comes in. And believe it or not, training your existing employees with big data training definitely has more benefits as they already know the organization and its goals inside and out.
How Advanced Data Science Training Improves Functional Expertise
To gain the competitive edge and take care of the massive amounts of data you collect on a daily basis, you need data scientists with advanced training in the field. You can provide those skills and knowledge to your employees and give them the opportunity to experience the vast horizon of data mining, data visualization, and information management. If your current IT team already has experience in cloud computing, data warehousing, and infrastructure design, offering them, data science training can definitely boost their skills and make them more resourceful for your organization.
Here is how advanced data science training can increase the functional expertise of your business:
The skill of extraction important and relevant information out of big data can help an organization make smarter decisions. Since a business' success depends on how satisfied and happy their customers are, data science can play a major role in ensuring that goal is achieved. The data scientists extract data from customer behavior patterns and feedback to learn the type of products they are likely to invest in, the marketing methods, and where the products sell best. This ensures offering and delivering the right products to the right customers and at the right time. The organization's ability to deliver relevant products to meet customers' need can promise them a competitive edge and major market share in the long run.
Mitigating Fraud and Risk
The advance knowledge and skills enable data scientists to identify uncommon data. In short, it makes it easier to pinpoint and identify risk and fraud related to data. They create a path, network, statistical, and big data methodologies to mitigate any fraudulent activities and makes sure to make instant alerts for a timely response. Identification of the unusual data in time prevents risk and saves the organization from a major data breach.
As mentioned earlier, it all boils down to what your customers think about what you offer them. And indeed, data science and analysis plays a significant role in improving your ability for marketing and sales. The information extracted is shared with the other authorized teams to give a better insight into the audience your organization is trying to serve. Using that knowledge, the organization can alter its processes and offer the best possible customer experiences.
A team of skilled IT professionals with data science training empowers the management to make better business decisions. They work as a strategic partner and trusted advisors who directly guide the upper management to maximize the organization's processes and analytical capabilities. A data scientist is responsible for demonstrating and communicating the value of extracted data to help improve the decision-making process across the organizations. The valuable data is extracted through a process of tracking, recording, and measuring performance metrics.
Encourages Other Departments
Another important role of a data scientist is to ensure the staff is well-versed and familiar with the analytics product of the organization. The idea to keep everyone on the same page and prepare for the success together. Data scientists demonstrate the effective usage of the improved system to drive action and extract insights. After understanding product capabilities, the other organization's departments can shift their focus on addressing key business challenges and adopt best practices for desired results.
While breaking down the current analytics system of the organization, data scientists question the assumptions and processes for developing further analytical algorithms and programs. This requires a constant and continuous effort to improve the value, which can be gained from the data collected by the organization.
Data science can prove to be highly valuable for any business wanting to use their data in the best interest. From insights to statistics across new hires and workflow, the aim is to help the entire organization make informed decisions. Interested in a career in big data? Want to gain all these benefits for your employees? We deal in high-quality training content and professional certifications. Call us now and get your hands on true knowledge and skills right away.