K
Kathleen Martin
Guest
Data science is applicable in every industry. It helps to monitor, manage and collect performance measures to improve decision-making. The application of data science can help businesses to gain customer insights, increase security, analyze finances, streamline manufacturing and predict future market trends.
Data scientists often write algorithms that can help to make sense of big data. They need to have technical data science skills as well as strong business acumen to discern problems that need to be solved. A data scientist can help your business to source, manage, and analyze large amounts of unstructured data.
Does My Early Stage Startup Need a Data Scientist?
An early stage startup may need someone to make sense of data, build proper data systems, and focus on cultivating a data-driven approach. However, data scientists don't come cheap so you need to know what's best for your startup right now. To determine whether your startup is ready to hire a data scientist, ask the following questions.
What type of startup is it?
Data scientists may find it easier to work with startups that have massive amounts of data. They often use a variety of techniques to collect, clean, and convert data into usable forms. If your startup is data-driven, then it may be worthwhile getting a data scientist on board from the beginning.
Regardless of the industry, every startup needs to analyze consumer data and trends. Instead of hiring a full-time data scientist, you can choose to employ another professional with similar skills. For example, a marketing startup can get a savvy digital marketing manager to analyze key metrics.
Can you afford a data scientist?
It often takes about two to three years for a startup business to become profitable. So you need to consider the cost of hiring a data scientist. If you have enough funding from angel investors or venture capitalists, then it may make sense to use data science to scale and grow your business.
Data scientists have a unique set of skills that are in high demand and they are expected to come with a hefty price tag. Glassdoor pegs the average data scientist's salary at $121,147 but it can go up to $160,000 for a senior data scientist with a master of science in data science degree.
Continue reading: https://techdayhq.com/community/articles/does-your-early-stage-startup-need-a-data-scientist
Data scientists often write algorithms that can help to make sense of big data. They need to have technical data science skills as well as strong business acumen to discern problems that need to be solved. A data scientist can help your business to source, manage, and analyze large amounts of unstructured data.
Does My Early Stage Startup Need a Data Scientist?
An early stage startup may need someone to make sense of data, build proper data systems, and focus on cultivating a data-driven approach. However, data scientists don't come cheap so you need to know what's best for your startup right now. To determine whether your startup is ready to hire a data scientist, ask the following questions.
What type of startup is it?
Data scientists may find it easier to work with startups that have massive amounts of data. They often use a variety of techniques to collect, clean, and convert data into usable forms. If your startup is data-driven, then it may be worthwhile getting a data scientist on board from the beginning.
Regardless of the industry, every startup needs to analyze consumer data and trends. Instead of hiring a full-time data scientist, you can choose to employ another professional with similar skills. For example, a marketing startup can get a savvy digital marketing manager to analyze key metrics.
Can you afford a data scientist?
It often takes about two to three years for a startup business to become profitable. So you need to consider the cost of hiring a data scientist. If you have enough funding from angel investors or venture capitalists, then it may make sense to use data science to scale and grow your business.
Data scientists have a unique set of skills that are in high demand and they are expected to come with a hefty price tag. Glassdoor pegs the average data scientist's salary at $121,147 but it can go up to $160,000 for a senior data scientist with a master of science in data science degree.
Continue reading: https://techdayhq.com/community/articles/does-your-early-stage-startup-need-a-data-scientist
