Companies are beginning to see a huge shift in how Big Data operates in today’s digital world. Big Data solutions, powered by Data Science have revolutionized nearly every sector in the economy. Right now Banking sector is all geared up for Data Science. Banks are slowly learning how valuable it is to model their customer’s financial portfolio according to insights provided by Data Science.
MBN Solutions, the recruitment consultancy specializing in hiring Data Scientists, has reported a whopping increase in their annual revenue by 58%. MBN said that demand for “blockchain” database technology and expertise in “internet of things” are fueling the demand in the market.
The Health and Social Care Information Center has appointed a new Director of Data Science to spearhead their data science projects and its Center of Excellence. The center has hired Daniel Ray, informatics specialist to be the director of Data Science. Daniel Ray has worked in the NHS for 17 years and has headed several data science and informatics projects.
At a recent conference in Dublin, Fionnuala Meehan, MB sales for North and Central Europe at Google Ireland, said “data science roles will be among the highest paying jobs in the future - the near future.” Ireland must quickly invest in training data scientists as the need for them is going to multiply in droves in the coming years.
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In August of this year, the National University of Singapore, is launching its Data Science degree program. Initially this program will start with an intake of 50 students, who will be picking up modules in mathematics, statistics and computer science. This will be a 4-year honours program which will be available to other students as a second major.
DataScience Inc, the data analytics company that combines machine powered data analytics with human intellect, is opening its doors for professionals who want to learn functional data science. This will be a 12-week residential program, called DS12, where 12 exceptional professionals will be welcomed to the company, to learn functional programming, and other skills which are required for working in a data science team.
The Global retailers – Specsavers, is outsourcing their data science requirements to a third party in India. Nick Hough-Robbins, Specsavers’ global data programme director, has stated that they do have an in-house data science team, but they are not likely to hire data scientists as the cost is too high. The current data science team at Specsavers has been with the company from the very beginning, and have a particular way of working. Outsourcing data science to a third party is a good way to gain a fresh perspective from outside capabilities.
A new survey for in Data Science, recently discovered that most data scientists find cleaning and massaging data to be the most boring aspect of the data scientist job. Still most people seem happy to be in this position, even if they spend more time cleaning the data, than mining it or building models on it. Nearly 76% of the data scientists have declared that data preparation and cleaning is something that they do not enjoy.
Sense – the data science collaboration software, in cloud, which enabled data scientists to share self-service analytics reports, which their colleagues or peers can access and work on at anytime – has been acquired by Cloudera. Cloudera is clearly the leader in data management today. Sense founders Tristan Zajonc and Anand Patil say I was a mutual understanding that led to this partnership, as under Cloudera’s guidance, it will be able to accelerate Sense better.
SingTel’s former Chief Data Science officer has been hired by the Common Wealth bank to head their data science operations. Amy Shi-Nash is a 17 – year veteran of the Data analytics and data science industry and has been hired by CBA to deliver on their data science ambitions. She has been assigned to deliver data science capabilities towards business transformation and improved customer experience.
Data Scientists are a rare find. It is becoming increasingly difficult for even data analytics companies to find talented data scientists. This belies the faith that stalwarts like Elon Musk and Bill Gates had in Artificial Intelligence being here already. But eventhough talent is scarce, Ashu Dubey, Co-founder of 12 Labs’ Applause, states that it is possible to build data science teams – when hiring data scientists is getting so tough.
Drew Conway, CEO and Founder of Alluvium, a big data analytics company, shares his thoughts on how Data Science can be used in the practical industry. He advises to share your code in sites like Github as he believes in learning from the community and also stresses on learning SQL – as Data Scientists work a lot on SQL.
Big Data has exploded in the digital world and there is not a single industry which has not been affected by it. Banking has always been a data sensitive industry which relied heavily on analytics to improve performance and profits. Though Big Data is occupying a huge space in this industry, the real game changer is Data Science. Although banks have done analytics at a product level – very few have done a holistic analysis of how customer relationships can provide an opportunity for increased profitability.
The P&C insurer – Sentry Insurance has invested $4 million in the University of Wisconsin, its hometown, to finance their data science and data analytics programs. This investment will fund 2 full time faculty positions. Sentry spokesperson has announced that the company need employees with both business and computational analytics skills.
Alooma, the Israeli startup, which helps clients with big data solutions in cloud service, announced a Series A round of $11.2 mn from Lightspeed Venture Partners and Sequoia Capital. This product focuses on working more with data scientists with a background in machine learning and mathematics, rather than with developers.
Razorfish, announced that it has hired Marco Bailetti, as VP of Data Science, at Razorfish’s Toronto office. Razorfish, that is the global leader in driving customer obsessed businesses, has taken this initiative to extend their data science presence to – deploy data and customer rich insights to their clients in the automotive, financial services and core retail sectors.
A new data science campus is being set up in Wales, to provide data science solutions to the office for National Statistics. This facility will help create atleast 30 high skilled roles, to build new technology and data science products within the existing workforce in the Govt.
With the demand for data scientists on the rise, it was hardly surprising when various universities across the world started launching data science programs. Most universities are selective of taking in students, considering that data scientists need to be from a mathematics/statistics background. But Lancaster University, that launched its MSc program in data science took in 3 times the students. The reason behind it was – that with the dearth of data scientists in the industry, any student who has some kind of background in maths should be able to take up data science in their masters.
Back in 2012, Gartner had released a report which said that by 2020, there will be a shortage of 100,000 Data Scientists in the US. That prediction is coming true. Last year, a McKinsey study put the demand and supply gap of Data Scientists at a whopping 60%. In 2014, the firm Accenture found that 90% of their clients wanted to hire Data Scientists, and 40% said they could not do so simply because of the lack of talent.
The team at DataRobot Inc. recognizes the fact that there are not enough data scientists in the world to cover the demand required for them. Everybody is entitled to benefit from predictive analytics, even if they cannot afford to hire a data scientist. They had created an automated data analysis platform that allows non data scientists to create data science models with no coding knowledge.