Data scientists analyze data, generate quantifiable insights and produce innovative, data-driven solutions to solve pressing business objectives. From improved forecasting capabilities, stronger customer targeting, robust workflow processes, hiring the right candidates and helping management make data informed decisions, data scientists are amongst the most valuable assets to any company in any sector.
Here are the 4 key benefits of hiring a data scientist in today’s competitive tech market:
1. Identifies New Revenue Streams
Data scientists can leverage big data such as CRM, social media and geo-location to create new revenue opportunities. Data scientists can help businesses explore new markets by uncovering potential customer behaviors and refining targeting strategies. Moreover, the possibilities of monetizing big data are endless. For example, if you are a software company, you can extend your service offerings by providing analytics dashboards and reports, allowing your customers to gauge whether users are effectively using the software or not.
2. Enhances the Hiring Process
The recruitment industry is continuously seeking to invest in new technologies to improve candidate experience and build valuable relationships. The scientific hiring method of sorting candidate information and tracking applications through an application tracking system is a great tool but its usefulness stops once the hiring process is completed. To evaluate the long-term success of a hire, companies need to rely on data-driven recruitment strategies that combine HR analytics and workforce intelligence, enabling companies to hire faster, smarter and competitively.
3. Facilitates Risk Management
Data scientists are able to transform data into action. Irresponsible management of data is a risk in itself. Therefore, employing a data scientist that can gather the right data, filter it and store it in a way that is easily accessible and useable is essential. Data scientists analyze historical information to derive future trends and upends the testing of new ideas and initiatives, helping companies to save money and make efficient use of limited resources. With the help of machine learning algorithms, data scientists can help organizations understand the nature of risk and offer solutions to cope with them.
4. Data-Driven Decision Making
Owning solid, verifiable data can help businesses make informed decisions. A data-driven culture empowers businesses to achieve superior customer experiences, establishes governance and supports its employees to convert data insights into actionable opportunities.
ProVision assists companies with finding top data talent for a variety of permanent and contract opportunities. We have a strong pipeline of experienced data scientists, analysts and engineers to help your business thrive with data-driven practices. Contact us to learn more about our services.