{"id":830,"date":"2014-12-01T15:15:21","date_gmt":"2014-12-01T20:15:21","guid":{"rendered":"https:\/\/solutionsreview.com\/business-intelligence\/?p=830"},"modified":"2014-12-03T10:44:11","modified_gmt":"2014-12-03T15:44:11","slug":"business-intelligence-trends-why-data-scientists-are-in-high-demand","status":"publish","type":"post","link":"https:\/\/solutionsreview.com\/business-intelligence\/business-intelligence-trends-why-data-scientists-are-in-high-demand\/","title":{"rendered":"Business Intelligence Trends: Why data scientists are in high demand?"},"content":{"rendered":"

\"Business<\/a>Data scientists are one of the highest growing occupations in the US. In a 2011 report, McKinsey Global Institute estimated that by 2018 there will be 4 million big data related positions in the US. Considered one of the most attractive positions to pursue according to Information Week which is not surprising if you take into account the median salary for a data scientist in the U.S. is a not too shabby $115,000 according to Glassdoor.<\/p>\n

It\u2019s not the first time we\u2019ve heard of this. If you follow business intelligence then you already knows that the field of data science is growing. The big question is \u201cwhy is the field growing at such a precipitous rate.\u201d In a TNW article titled, \u201cHow data scientists are changing the face of business intelligence<\/a>,\u201d author Nick Cicero, Director of Client Strategy @Expion and Editor @socialfresh, gives us his thoughtful explanation. Below are important snippets from the article.<\/p>\n

+ Check Out a Free\u00a02015 Business Intelligence Tools Buyers Guide<\/a><\/strong><\/p>\n

1) Accessibility to data is greater than ever before<\/strong><\/p>\n

The rise of online communities, e-commerce, mobile and the overall digitization of society has created new data sets that go beyond just number crunching.<\/p>\n

Companies look at the different interactions by different users within the site, from how they came in, to the activity taken on the site, to how they completed a particular activity. With the data, teams can look at the optimal characteristics of users who have satisfied their goals.<\/p>\n

The tweets we post, the reviews we leave on Yelp, the blog posts we write, the searches we make\u2026 they\u2019re all adding an additional layer on the data puzzle that really hasn\u2019t been seen before, revealing new relationships about groups of people and their behaviors.<\/p>\n

2) Data is now crucial to product development<\/strong><\/p>\n

Data\u2019s influence on product development is easily seen in nearly every company today. Optimization based on this influx of data helps drive actionable business decisions in real time, whereas before data scarcity forced iteration based on gut, or unreliable and outdated information.<\/p>\n

Imagine your website was your primary product. \u201cMaybe you can\u2019t write an algorithm to automatically increase conversions on your site, but you could possibly write an algorithm that makes it easy for a human to understand what\u2019s happening on the site, then the human can make the change in their behavior.\u201c -Matthew Ruttley, Data Scientist at Mozilla<\/p>\n

\u201cOne time we tried changing the color of a button in the app and it didn\u2019t change the experience much, then we changed the copy on one of the buttons and that drove up conversions 15 percent.\u201d – John Sandall, Data Scientist at YPlan.<\/p>\n

3) We live in a balancing act of privacy<\/strong><\/p>\n

Today\u2019s free-flowing exchange of ideas, goods and services is punctuated by one overarching relationship that\u2019s constantly at the center of debate: the right to data.<\/p>\n

As mentioned before nearly every interaction is measured, giving these companies more access to map personas of the people using their technology. For the most part, this is a good thing \u2013 it helps the user experience improve and makes the things we love even better.<\/p>\n

But a big part of that is also making these companies sustainable in the marketplace for the future, and that means experimenting and monetizing.<\/p>\n

Earlier this year Facebook came under fire for just that. A team of Facebook data scientists published a research study conducted by altering 689,003 users\u2019 feeds over a week to test their emotional reaction.<\/p>\n

4) A more complex role than you think<\/strong><\/p>\n

Perhaps one of the main reasons that data scientists are in such high demand is that they require an incredibly diverse skill set, which can sometimes be hard to find in people.<\/p>\n

\u201cThe data scientist is someone who has fantastic communication and empathy ability, as well a lot of mathematical skill, and then the engineering skill they need to do the math that they want to,\u201d says Hilary Mason, Founder at Fast Forward Labs.<\/p>\n

The data scientist spends a lot of time working on statistical analysis, developing machine learning algorithms, hacking and mining for data, but also managing and communicating with multiple different teams within an organization.<\/p>\n

Click here<\/a> to read the entire article called, \u201cHow data scientists are changing the face of business intelligence,\u201d by Nick Cicero.<\/p>\n","protected":false},"excerpt":{"rendered":"

Data scientists are one of the highest growing occupations in the US. In a 2011 report, McKinsey Global Institute estimated that by 2018 there will be 4 million big data related positions in the US. Considered one of the most attractive positions to pursue according to Information Week which is not surprising if you take […]<\/p>\n","protected":false},"author":20,"featured_media":840,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[4],"tags":[],"acf":[],"yoast_head":"\nBusiness Intelligence Trends: Why data scientists are in high demand? | Solutions Review<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/solutionsreview.com\/business-intelligence\/business-intelligence-trends-why-data-scientists-are-in-high-demand\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/solutionsreview.com\/business-intelligence\/business-intelligence-trends-why-data-scientists-are-in-high-demand\/\",\"url\":\"https:\/\/solutionsreview.com\/business-intelligence\/business-intelligence-trends-why-data-scientists-are-in-high-demand\/\",\"name\":\"Business Intelligence Trends: Why data scientists are in high demand? 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