According to Deloitte’s 2019 becoming an Insight-Driven organization survey, two-thirds of organizations rely on a select group of employees who have been trained on analytics or data science, versus 27% who say that all employees are trained on analytics or data.
In companies where executives report that all employees have been trained on analytics, 88% exceeded business goals, compared to just 61% of companies in which only select employees have been trained on analytics.
A LinkedIn research revealed that in 2018 there was a shortage of almost 160,000 data scientists, and according to Indeed this gap doubles every year. Meaning that by 2022 there will be a shortage of almost 3 million data scientists.
Coming back to the same survey, Deloitte says 67% of employees are not comfortable accessing data or using insights on company tools. And “The majority of companies today adopt a fragmented, siloed approach to analytics tools and data, which correlates with diminished business success”.
Organizations need to embrace a diversity of roles and skills. Instead of relying on siloed teams of highly technical quantitative experts, What could be called “democratization” of data science.
The question then is: how do we empower every employee in an organization to transform companies into an insight driven organization?
- We need to change the role of BI. It is not about replacing data scientists or engineers, it is about acknowledging that companies won’t have the opportunity to hire the amount of data scientists they will need to build and address all of their business needs. But not only that, as the survey points out, we must encourage data scientists to train every single professional within the organization to use data tools and their insights. By doing so, they can exceed business goals by at least 25%. (More on how to structure data teams here)
- We must develop tools that are easy to use and accessible to many areas and professional specialities. We also need to make sure they are technical enough so that the data professionals in charge of training and expanding knowledge within the organization, can embed analysis specific to the organization. The cloud ecosystem is becoming very complex, companies are installing more than 900 cloud apps according to Symantec. There are companies specialized in cloud storage, security, finance, Human Resources, marketing and more. In the early days of the internet, some 35 years ago, everything was much simpler. The technology needed to be a front end developer was HTML, CSS and some Java. Today even a data scientist can't deploy a data pipeline, since they would need knowledge in devops, back end and front end.
So, how can a software with depth - so data scientists can work with, and ease of use- for technical and non-technical people could ever be available to please both sides of the coin?
The answer is: #NoCode. A key player in this ecosystem. It simplifies the process and provides the necessary tools, in one single place, to make business decisions based on data: simple, readable and effective.
That is how the future is built. And that is how we can empower professionals across many backgrounds to impact the way organizations work.