Scarce and growing scarcer

Being able to use the knowledge derived from data, achieving the insights to which data can lead is the centerpiece of a marketer’s requirements in the big data era. But before you can acquire knowledge, you must understand the data itself and how its patterns fit together and suggest other patterns, how to work with it to produce useful, meaningful knowledge. Enter data scientists.

Employment opportunities for data scientists are growing. They will continue to grow, and some institutions are putting educational programs in place to help meet future demand. However, projections suggestion the demand for data scientists will soon exceed their availability. A compelling graphic synthesizes the problem.

Top skill set Requirements to be a Data Scientist

Data scientists aren’t data analysts. While the two roles may start with a grounding in scientific and mathematical skills, a data scientist is far more a “Renaissance individual who really wants to learn and bring change to an organization,” says Anjul Bhambhri of IMB. About a data scientist’s skill set, Mark van Rigmenam writes,

They need to have statistical, mathematical, predictive modelling as well as business strategy skills to build the algorithms necessary to ask the right questions and find the right answers. They also need to be able to communicate their findings, orally and visually. They need to understand how the products are developed and even more important, as big data touches the privacy of consumers, they need to have a set of ethical responsibilities.

Often, related fields of study pair with a breadth of programming, managing, processing and curating skills to shape the qualities of individuals who will guide a business’s effective use of data. Rigmenam suggests an ideal data scientist would have the following skills.

  • Strong written and verbal communication skills;
  • Being able to work in a fast-paced multidisciplinary environment as in a competitive landscape new data keeps flowing in rapidly and the world is constantly changing;
  • Having the ability to query databases and perform statistical analysis;
  • Being able to develop or program databases;
  • Being able to advice senior management in clear language about the implications of their work for the organisation;
  • Having an, at least basic, understanding of how a business and strategy works;
  • Being able to create examples, prototypes, demonstrations to help management better understand the work;
  • Having a good understanding of design and architecture principles;

We would add, while an effective data scientist requires latitude to consider and experiment (work autonomously), she must also be able to work cooperatively. Data scientists are members of teams that aren’t simply made up of senior leaders. There are plenty of other employees who work in the trenches with ideas about situations that require solutions and how solutions would fit into goals of other departments. Failures in cooperation and communication can lead to costly disasters.

Likely, few data scientists possess all the above qualities, so a business should prioritize the ones important to them.

In planning for apply new technologies, businesses must also plan for how they will apportion responsibilities for critical data science needs–through third-party applications or data-science-specific internal departments or perhaps, both. At present, we are gazing at the tip of the big-data, data-scientist iceberg. Demand for big data solutions is increasing. So is the demand for the innovators behind the solutions.

Please share if you think others would benefit.