The problem of hiring the data scientist and how difficult it sometimes is to hire the right data scientist and what steps a manager can take to overcome this
5. “
Based purely on the data, a really good data scientist
will probably tell you the odds are poor that you’ll be
able to find and hire really good data scientists.
-Michael Schrage
5
6. ▪ Surveys reveal the scarcity of data scientists
▪ Not enough people with the usual blend of software
skills and statistical knowledge
▪ Creating a vacuum
▪ Incomplete knowledge is dangerous
6
Scarcity of Data Scientists
8. Companies should stop
hunting for data scientist and
spend valuable resources
searching for the right analyst
in the immediate future
Two key Insights
Companies should focus on
creating small teams not
addressing big problems but
to generate insights that could
get the company doing
something interesting really
fast
8
9. Hunt for Data Scientist
▪ There is a shortage of data scientist in the
industry
▪ Organizations can’t take full advantage of
their capabilities
▪ Spending money on wall-street quants to
do the job of data scientist is not efficient
▪ Little knowledge is data-dangerous
9
10. USING SMALL TEAMS
10
● Seed fund an empower small cross-functional and data-oriented teams
● They are charged with producing data-driven insights in short periods of
time
● The goal is to make all of the organization more conversant with the
tools of probability and statistics
● Not aimed at solving big and grand challenges
● But focusing on generating insights that could get the company doing
something interesting really fast
11. IN TWO OR THREE COLUMNS
Yellow
Is the color of gold,
butter and ripe
lemons. In the
spectrum of visible
light, yellow is found
between green and
orange.
Blue
Is the colour of the
clear sky and the deep
sea. It is located
between violet and
green on the optical
spectrum.
Red
Is the color of blood,
and because of this it
has historically been
associated with
sacrifice, danger and
courage.
11
13. 13
● There is a shortage of data scientists
● Managers should make wise use of their limited resources
● They should not hire the laid off wall-street quants to do the job of a
data scientist
● Hiring people with limited knowledge of statistics and probability and
limited software skills can be data-dangerous
● This can lead to wrong decision making and skewed judgements
WISE USE OF RESOURCES
14. DATA LITERATE TEAMS
14
● Create small teams working to produce insights that help the company do
something interesting really fast
● Make the entire organization more conversant in the tools of data analytics
● Even baby steps in analytics could produce large strides in outcome
15. CLOSING OFF
People do not need to become data scientist, but they need to
understand the key principles of statistics and data analysis. Although the
temporary fix of data science teaming does not solve the problem, but it
creates the cultural and organizational context for necessary hires to
follow.
15
