A data scientist is a professional responsible for collecting, analyzing and interpreting large amounts of data to identify ways to help a business improve operations and gain a competitive edge over rivals.
The data scientist role is an offshoot of the statistician role that includes the use of advanced analytics technologies, including machine learning and predictive modeling, to provide insights beyond statistical analysis. The demand for data science skills has grown significantly in recent years as companies look to glean useful information from the voluminous amounts of structured, unstructured and semistructured data that a large enterprise produces and collects — collectively referred to as big data.
The mix of personality traits, experience and analytics skills required for the data scientist role is considered difficult to find, and, thus, the demand for qualified data scientists has exceeded supply in recent years. Data scientist topped the list of 50 Best Jobs in America by Glassdoor.com in 2016 and again in 2017, based on metrics such as job satisfaction, number of job openings and median base salary.
Basic responsibilities include gathering and analyzing data, and using various types of analytics and reporting tools to detect patterns, trends and relationships in data sets. Data scientists typically work in teams to mine big data for information that can be used to predict customer behavior and identify business risks and opportunities.
These professionals are tasked with developing statistical learning models for data analysis and must have experience using statistical tools, as well as the ability to create and assess complex predictive models.
A data scientist uses large amounts of data to develop hypotheses, make inferences and hone in on customer, business and market trends. The data scientist must be able to communicate how to use analytics data to drive business decisions that may include changing course, improving a process or product, or creating new services or products. With the latter, the data scientist is involved in the development process. In the case of software, for example, the data scientist’s role involves using data analytics to prescribe new features.
Data scientists also set best practices for data collection, use of analytics technology and data interpretation. Read more…