The Harvard Business Review named it the 2015 sexiest job of the 21st Century, and with each passing year, the demand for this position keeps increasing. Do you think you already need to hire a data scientist for your company soon?
First off, what is data science? It is the process of evaluating data using analytical and logical reasoning to examine each component of the data provided.
So, basically a bunch of data from various sources is gathered, reviewed, and then analyzed to form findings or conclusions.
You might be wondering, well what does this has to do with my business? Yours is just a small enterprise and you don’t have the time for this deal.
Data science is incredibly effective to help your company grow, and to optimize your resources. Here are three reasons that will make up your mind:
1. You will make better decision based on real findings.
Making big decision can be nerve wracking for anyone, specially if your business is involved. The uncertainty of the unknown stresses you out, but sometimes things need to change for the better. Wouldn’t it be amazing if you have solid information that will back your decision?
That is exactly what data science would provide. You would be able to make better and wiser decisions, that would reflect directly on your business goals and performance. By knowing exactly what is wrong, you could easily fix it without damaging the rest.
2. You can find the reasons why your work was effective or less effective.
Once you’ve gathered all of that precious data, which may have come from a survey or from A/B testing, you will be able to determine what worked, what didn’t, and especially why, with the help of a data scientist.
How you approached your target, the channels that you used, the quality of your product, or your site’s UX design, among others, are some well known factors that may influence achievements that can be easily spotted through data analysis.
By knowing what is bad, good, or great, you can execute a strategic plan to reach your goals and improve your product, and overall business.
3. You will be able to discover what external factors are influencing you.
Data analyses may help discover unexpected influences that are decreasing your business performance.
This can be used to identify key aspects of implementation to avoid this external factors from hurting your business.
Data science is helpful not only for big companies that work in complex markets with problematic stakeholders. This could be useful for any type of business or activity.
Take the British Olympic Rowing Team as example, they used data driven analytics in order to make their boats go faster. They measure several factors, from the athlete's weight to variables such as weather and water conditions.
Hiring a data scientist is not just a trend to follow; it’s what you need to take your business to the next level. Now that you know how beneficial it can be to your business, stop wasting time and start looking for a data scientist now!