A new research reveals that data science skills gap is preventing organizations from delivering personalised customer experience and calculating ROI accurately. Most of the marketers understand the positive impact of data driven marketing on customer relationships and ROI but they do not have the knowledge, skills and confidence to make the best use of data available to them. Marketers need to adopt best practice data-driven marketing today and seek help from experts so that brands can effectively bridge the data science skills gap.
(Source : https://www.marketingweek.com/2017/05/09/jaywing-data-science-skills-gap/ )
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The maker of data science platform Dataiku Data Science Studio (DSS) has launched Dataiku Academic Program that aims to provide free licensing support and learning resources to researchers, students and teachers in business analytics and data science. The goal is to help learn data science concepts through Dataiku DSS platform and develop advanced data science solutions.DSS allows users to leverage data science programming language Python and R along with other machine learning algorithms and open source big data technologies like Hadoop, Spark and Scala.
(Source : http://www.prnewswire.com/news-releases/dataiku-academic-provides-free-enterprise-quality-data-science-software-to-students-teachers-and-researchers-300454050.html )
Team of M.Sc data science students from ECS at the University of Southampton competed with 170 students from across UK to win the UCL Data Science student challenge. The data science challenge was sponsored by Bloomberg and was designed to look at the amazing things that could be done with Data Science. The data science challenge was themed around the development of innovative data science solutions using financial datasets so as to give Bloomberg an added advantage in the finance domain.
(Source : http://www.ecs.soton.ac.uk/news/5039 )
IBM released its PowerAI deep learning software distribution to tackle major challenges faced by data scientists and developers. PowerAI simplifies development experience with tools and data preparation step whilst reducing the time overhead involved in training AI systems from weeks to hours. IBM PowerAI with GPU accelerators will provide at least twice the performance of its x86 platform making everything like setting up new servers, adding memory and so on much easier and faster.
(Source : http://www.prnewswire.com/news-releases/ibm-unveils-new-ai-software-reduces-barriers-for-data-scientists-to-fuel-cognitive-development-300454867.html )
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According to Gartner, people who are not formally trained in analytics and statistics are referred to as Citizen Data Scientists. Gartner predicts that by 2019 there will be increasing number of citizen data scientists than formally trained data scientist. Vendors being aware of this data science skills gap are developing data science tools and applications which are completely automated. Gartner predicts that by end of 2020 , 40% of all analytics tools are likely to be automated. This will make it easy for citizen data scientists to use data science products and also increase vendors to reach across enterprises and overcome data science skills gap.
(Source : http://formtek.com/blog/citizen-data-scientists-vendors-introduce-automation-and-self-service-tools-to-fill-skills-gap/ )
According to IBM, the number of job openings for US data professionals will increase by 364,000 to 2,720,000. The 3 important business domains Finance and Insurance, Professional Services and IT put together are likely to witness 59% of all the data science and analytic jobs demand . The research reports reveal the most lucrative skills for data science and analytic job openings as - Hadoop MapReduce, Apache Hive, Apache Pig and Machine Learning. Of all the big data job roles, data scientists and data analysts are fastest-growing job roles anticipated to see a demand spike of 28% by 2020.
(Source : https://www.forbes.com/sites/louiscolumbus/2017/05/13/ibm-predicts-demand-for-data-scientists-will-soar-28-by-2020/#78e94fe97e3b )
The Statistica data science platform is all set to become a part of Tibco’s Insight platform with Tibco planning to acquire the data science platform provider Statistica. This acquisition will make it easier for data scientists to leverage machine learning when analyzing large volumes of data. Statistica will be an important addition to the analytics team at Tibco that will make advanced analytics easily accessible to users at different skills levels.
(Source : http://www.zdnet.com/article/tibco-software-to-acquire-data-science-platform-provider-statistica/ )
HEC Montréal, Polytechnique Montréal, and the Université de Montréal announced a data science and AI based joint partnership to promote innovation in the financial services industry and encourage data analysis initiatives.National bank will collaborate with IVADO partners to offer targeted AI internships. The main goal of this partnership is to share best practices of data analysis , data management and governance with non-profit organizations.
(Source : http://betakit.com/national-bank-partners-with-ivado-to-support-montreals-data-science-ecosystem/ )
In 2016, Intel became a Python distributor with its own edition of language having Intel’s Math Kernel Library (MKL). MKL speeds up data science tasks by with the use of Intel specific processor extensions.The Intel Distribution of Python -ActiveState;s Python has incorporated MKL to provide an additional boost to Python data science and machine learning packages.ActivePython is offered in both community and enterprise editions which include MKL support.
(Source : http://www.infoworld.com/article/3197414/artificial-intelligence/activestates-python-taps-intel-mkl-to-speed-data-science-and-machine-learning.html )
Zipongo, Eating Well Made Simple hired Viet Nguyen as the first vice-president of Data Science.Zipongo provides food shopping experience, recipes and restaurant recommendations personalized according to individual’s food choices, health goals and status along with genetic makeup. Nguyen has been appointed to develop a novel approach to eating well that is backed by best behavioral science, nutritional science, data science and analytics.Nguyen will be responsible for refining Zipongo’s algorithms that will help user's guide in an effective way towards making better food choices.
(Source ; http://www.prnewswire.com/news-releases/zipongo-hires-vice-president-of-data-science-to-advance-eating-well-made-simple-platform-300459595.html )
Considering the shortage of skilled data science talent and the wide variety of skills required for a data scientist job role make hiring data scientists a tough task. Skills like coding, mathematics, statistics and business knowledge are the basic must haves for any data scientist. However, when hiring a good data scientist businesses ought to take an in-depth look into the skillset to make the most out of their investments.Apart from the basic coding and math skills, a good data scientist must have the ability to decide on what data elements must be included as features in a machine learning model, what kind of business problems need to be addressed, should be able to evaluate the decision they make and also question themselves if different decisions could have resulted in better outcomes. Challenging one’s own assumptions and looking out for various approaches to do analytics are important traits of a good enterprise data scientist.
(Source : http://searchbusinessanalytics.techtarget.com/news/450419383/Experts-share-must-have-data-science-skills-beyond-coding-and-math )
A data scientist job does not merely involve analysing data but but instead their job is to use the information and insights extracted from analysis to make advancements in various domains like medicine, gaming, transport , finance, etc. Five key areas where data scientists can get into to use their data science skills for the progression of life saving technologies or for entertainment include - Gaming, Finance, Medicine, Transport and Music industry.
(Source : https://www.siliconrepublic.com/jobs/data-scientist-jobs )
National Statistical Commission Chairman R.B. Barman said that India is experiencing a dearth of data science skilled talent creating a huge gap in the supply and demand. Elaborating on the demand for data scientists, R.B. Barman said that there are 3 important challenging dimensions for a data scientist job - understanding the business domain, math and statistics and handling data intelligently. He mentioned that with awareness for data scientist job role increasing at a rapid pace, many institutes are coming up with various data science course offerings to train people with required skills and fulfill the data science skills gap.
(Source : https://yourstory.com/2017/05/shortage-of-data-scientists/ )