Sven Löffler
18. February 2015 0
Digitization

Data Scientists expertise and creativity driving Big Data

The comprehensive analysis of structured and unstructured data to improve and develop new business models, is currently one of the most urgent challenges for businesses. However, this process requires specialists working at the interface between data and business – the Data Scientists. These experts have technical know-how, business skills and communication skills. This makes it possible to identify and analyze a company’s data and derive optimization and propose changes to the management or the departments.

Core competencies

When merging different data sets from internal and external origin, Data Scientists are able to gain completely new insights, by analyzing und interpreting the data. Ideally, Data Scientists understand the responsibilities of the departments and formulate appropriate questions for abnormalities, which are executed with the help of software. Since that time, it is even more essential to not only interpret the past, but also to “predict” the future. Thus they really need professional knowledge and creativity, as well as knowledge in mathematics, statistics and programming. Therefore, it is essential to identify, promote and develop the right talents for this role.

Importance of Data Scientists

The responsibility of the data specialists directly correlates with the size of the company, as his work covers all core areas of the company and thus influence the future of the company significantly. Therefore it is an major advantage if the Data Scientist has already gained experience in his company’s industry or even started his career there. Of course, in some cases, an different perspective from another expert is useful, but usually only those who are familiar with the industry of the company recognize connections and know which different data sets will establish new trends.

The demand for Data Scientists increases

The demand for data scientists is large and it will take some time until enough young data scientists will leave the university. According to McKinsey alone the USA needs about 140,000 to 190,000 analysts, which are currently not available. But even in Germany, there is no major company that does not yet rely on those experts. Even start-ups such as Metamarkets, ParAccel or Kaggle have adopted this promising topic and offer “Data Science as a Service”. But also established businesses compete with a variety of data analysis tools. T-Systems is specialized mainly in the area: Enterprise Business Intelligence, High Performance BI and Emerging Technologies and offers many platform and analytics services. However, further efforts are needed to position Germany in this field.

Apprenticeship as Data Scientist

This development is responsible for the emergence of new courses at colleges and universities with a focus on data analysis. At the Technical University of Dortmund, it is even possible to graduate with a bachelor’s degree in “data analysis and data management“. Research institutes, such as the Fraunhofer Society, have also recognized the trend and offer a comprehensive seminar program for Data Scientists. And also the Telekom offers the possibility of a dual bachelor’s degree in computer science or business information and communication technology to develop into a Data Scientist.

Big Data Greetings
Sven Löffler

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