Companies are quick to hire full-time data scientists to solve their most complex problems when it comes to data innovation. The reality is that the success of implementing emerging technologies can lie with your current internal employees themselves. One way to improve your success rate is by imparting your employee the requisite skills required to understand data and how to use it in their daily work life. Not only is upskilling your existing employees a benefit to the organization, but it also offers employees the opportunity to future-proof their careers.
Data Scientists are not the Only Answer
Even though the term “Data Scientist” has entered the daily vernacular of business terms, there is still no agreed certification that demonstrates qualification for the role. Most businesses hire a single data scientist (or small team) with the assumption that they have the means to understand the intricacies and nuances of the company because of their advanced statistical expertise. But to support a successful data initiative, subject matter experts will also be required.
This subject matter expertise will have to come from your existing internal employees. No one knows better than these employees the patterns of your business, where to find relevant data sources, and why specific levers can influence an outcome.
The Current Data Gap
So why are organizations looking externally for these skillsets? In short, employers are not developing the tools or providing the opportunities to inspire, motivate, and incentivize their workforce to learn and utilize these skills.
To allow your employees to take advantage of AI and machine learning benefits, you must implement training programs that will educate them on AI and machine learning principles. One way to get employees to adopt AI is by letting them work on problem-solving and analysis challenges cross-functionally. However, leaders need to recognize that many of the first ventures into Data Science will not materialize into considerable benefits. But what will be gained is an opportunity for the employees to become comfortable with the concepts and methodology that will eventually lead to sustained growth and profitability. A key element of improving your Analytics maturity lies in building a culture that supports experimentation and failure.
According to QuantHub, some 35% of organizations surveyed said they anticipate having the most difficulty finding appropriate skillsets for data science roles. And the problem will not improve anytime soon. For this reason, businesses need to look towards the same people they are relying on to handle today’s challenges and prepare them with the capabilities to address tomorrow’s as well.