Those who say that big data is just a fad really need to have a hard look at their depth of knowledge. Big data is a revolution which is happening no matter how many IT pundits keep denying it. Data is being generated at the fastest rate ever!
This can be proven just by the fact that in 2017, the number of worldwide internet users was 3.38 billion. Just imagine how much data is being generated by these users. The guys on YouTube are generating 48 hours of new videos every minute! More than 570 websites are being created every day. This is no joke. If these are not enough for you to consider hiring a data scientist in your company, here are top 6 reasons why you should definitely hire one:
1. Data Scientist Helps in Predictive Analytics Which is Proven Effective For Modern Marketing Campaigns
Predictive analytics is one of the major reasons big companies are investing in data scientists. There are analytical tools which are based on predictive index algorithms helping to recognize individual consumer’s behaviors. This behavioral science, when blended with marketing campaigns, produce huge conversion rates for many big companies.
2. Analyze Churn Patterns With The Help of a Data Scientist
In any business, analyzing why a client has decided to leave you is a masterstroke. There are very fewer chances when a client will come forward and tell you the reason why he has stopped doing business with you. I agree that people do give feedback and its normal but how normal is it to manually sort these feedbacks and make a data-backed pattern out of it? For a data scientist, this is what he/ she is trained to do. With the help of a data scientist, you can figure out the bottlenecks which are cause you losses. This way, optimal risk management can be achieved in any given industry.
3. A data Scientist Can Help You Discover Hidden Growth Hacking Patterns
Data has the power to make a business or break a business. We can not even imagine what a data scientist thinks in his head. A good analytical mind can help you find unique patterns which can lead to accelerated sales of your new product. Placing a bid over a data-backed evidence is always worth it. Sales of a particular product depend on countless factors and data science helps us to discover them as correctly as possible. Which Ice Cream vendor wouldn’t want to know that which ice cream flavor does better business at on Mondays?
4. Data Science Encourages Automation And A Data Scientist Helps Automate Tasks
The repetitive task of collecting manual data and then sorting it in an order can be automated with the help of a data scientist. There are a number of tasks being done in a corporate office which could have taken lesser time, resources, enforce, and efforts if done with the help of an analytical tool. Any data-driven approach comes up with the ease of automation and faith in accuracy. The human does mistakes but data doesn’t lie.
5. A Data Scientist Can Help You Identifying Your Target Audience
Anyone who has used Google analytics or Facebook ads knows the importance of having a clear sense of target audience. An ad campaign can do 50% better if it is targeted on a previously-identified set of audiences which were selected by data-driven approaches. In simple terms, the more accurate your target audience set is, more is the chance of you hitting the jackpot. With the help of a data analyzer, a company can design its products or services based on the likings of saleability.
6. Data Science Can help Your Company To Make Historically Reliable And Marketable Products
If yours is a product company, data science can help you to analyze the historical evidence and run the numbers in order to see through a definite success. A product can be designed, articulated, and marketed with the help of a data scientist. From making tough but accurate decisions to designing the most optimal marketing tactics, a data scientist’s viewpoint will be enormous at each point of product development.