5 Things Businesses Need to Know About Data Science


In a recent post on Exchange Wire, Krux's chief data scientist Yacov Solomon shared his perspective on data science and its role for the enterprise.  

Here's an excerpt:

Everyone is saying Big Data is the next big thing for companies of all sizes. To understand its full potential, it is also important to become familiar with data science. Ultimately, business results do not rest solely on how much data a business has, or finding ways to create more, but on how an enterprise goes about leveraging that information, says Yacov Salomon, head of data science, Krux.

Data science, as a discipline, is a dynamic and multifaceted blending of technology, mathematics, and human insight. As companies approach Big Data and consider the role data science plays within their operations, there are five questions to consider.

1. What is the first step companies should take in employing data science?

Companies should first address specific goals and evaluate what they want to achieve with big data. Smart technologies and people are necessary to manage data, sift through, analyse, and bring what’s relevant to the surface. For some companies this means investing in the right people – building and refining integrated, in-house data science teams, and embracing a data-driven transformation. For others it might be investing in the right tools and relying on outside consultants and experts to lead the way. There is no one-size-fits-all approach.

Read this article on ExchangeWire