Data Science has (yet again) topped LinkedIn’s list of the most promising jobs. It has been at the top of Glassdoor’s Best Jobs in America list for the past three years. Gartner predicts that 90% of the large companies will have Chief Data Officers by 2019!
Just a couple of years ago, it was a just a buzzword. Fast forward today, it is something that has become a priority for most of the CXOs – data science certainly has seen a rapid transformation. It has moved far beyond “is this necessary for business” skeptic stage – several organizations have already laid strong foundations for projects to make use of AI, IoT, ML to enhance customer experience and achieve operational excellence.
While companies understand the value of data and are collecting a massive amount of structured and unstructured data, they lack the talent, tools, and expertise to make sense from that data. It is no surprise that most companies are able to analyze only 12% of their data.
Data science is the driver which can help companies make sense of data. Data scientists are the people who help companies in cleaning and organizing the data, visualizing the impact of the data, and turn raw information into reliable, usable, and meaningful insights for data-driven real-time decision-making.
Benefits of Data Science
The immense value of data-driven decision-making is clear to organizations. With data science, companies can
Proactively mitigate risks through identification of patterns and by taking in time actions
Better understand the customers and take initiatives to drive up customer experience and engagement
Improve forecasting through timely analysis of past performance and market behavior
Innovate better and faster innovate – create real-time solutions that address the current challenges
Gain unique insights for business expansion
Drive up creativity through knowledge gathered from various data sources
Enable data-driven decision-making at the micro-level within the organization – thereby achieving significant impact on the bottom line
Quickly adapt to changes thereby improving efficiency and boosting performance
Data Democratization – The Challenges
With the benefits of data science being ample clear, enabling data-driven decision-making across all levels of the organizations through data democratization is high on the agenda of company CXOs.Data literacy is the top priority as companies have started to realize that data at the fingertips of many can be transformational for organizations. However, becoming a data-driven enterprise is easier said than done –
Most of the companies lack the proper understanding of data science and its real impact
Many companies are not clear about the investments in technology, people, and processes
Enterprises are often not clear about the exact business scope and the required investments for that
Companies are worried about data security and privacy
A majority of the companies do not have data science expertise – however, they do have domain and business experts who can derive meaning from data
Hello Citizen Data Scientists
Considering the dearth of data science talent, lack of expertise in hiring the right skills, organizations are realizing that they need to utilize the expertise and domain knowledge of their internal team of experts to derive the maximum benefits from data. The new concept of “Citizen Data Scientists” has started emerging. Citizen Data Scientists are the business experts who may not necessarily understand the technicalities of stats, math, and machine learning, but they understand that importance of data and how it can be leveraged for decision-making. They are the ones who are leading the data-driven initiatives in modern enterprises.
The Revolutionary Rubics Platform
To make the citizen data scientists successful, they need to be enabled and empowered with the right tools – tools that will allow them make the most of their subject matter expertise and not burden them with technicalities, math, science, or data modeling etc.
Rubics is the revolutionary data science platform that helps business leaders apply the Right Models to the Right Data and easily identify patterns in massive volumes of data – enabling them to predict outcomes easily and achieve the desired business outcomes.
Enterprises derive great value from their data – because, using Rubics, anyone who can ask sophisticated questions can derive actionable insights from their data! Rubics allows the creation of compelling visualizations and easy-to-read reports and dashboards for easy exploration and real-time decision-making.
This extremely easy to use platform enables connecting and processing a massive amount of data at your fingertips – without the need to even download any software or connect to any database!
With Rubics, data-driven decision-making becomes a reality – decision makers get reliable, data-driven answers at the click of a button. Rubics makes data science a phenomenon for everyone.
Rubics is an ideal platform for data scientists, visualizers, data enthusiasts, business analysts, and also the decision makers.