04/30/2019
By
MJV Team

Plan of Action: implementing Data Science in your company

As promised, we have finally reached the climax of our saga on Data Science and the Infinity War. We have already presented the data universe, the Infinity Stones, Thanos and our heroes.

What is missing? Show a practical action plan for those who followed the whole adventure here. It is with Data Science that you can defeat the analog mindset!

But the question is: how do you implement Data Science in your company? Let us tell you what to prioritize. Follow the 3 steps we set up for you!

How?

Data Science is still a relatively new solution. Many organizations do not know where to start. Others believe they already master the subject, when in fact they only have a simple database infrastructure, but still no automation.

After all, what do you prioritize to bring Data Science to your business?

  1. Cultural Transformation: Data-drivenCulture

Technology is transforming the world in which we have come and, increasingly, it is in everywhere. In what we consume, where we look and what we interact with. Everything, in one way or another, involves the use of technology. And that generates data, lots of data.

Organizations could not be left out of this transformation, right? Old business models that worked so far are quickly being replaced by new services and products.

One of the first steps to implementing Data Science in your company is to create a Data-driven Culture because it will directly impact the corporate environment. Data is the new gold of the 21st century! In this sense, technology comes to contribute, transforming raw matter into diamond (or, if you prefer, in Infinity Stones).  

Unfortunately, few companies have this mindset. A study published by the Harvard Business Review revealed the following:

  • 72% of companies have not yet created a data culture
  • 69% do not treat data as a commercial asset
  • 52% assume they have not founded a data-driven organization
  • 53% say they are not competing for data analysis

Strategies such as Design Thinking and Agile Methodologies meet the demands of companies to add value to the business, increase team productivity, and deliver more results as a way to address this quest to streamline processes and focus on user experience.    

Using Design Thinking combined with Agile Practices makes the very dynamics of the company align with the organizational culture. In addition, it enables:

  1. To continuously test and improve a product / service
  2. Create more assertive technologies
  3. Add innovation to deliveries
  4. Learn from user experience

Digital Transformation

In practice, this means that we need to align professionals at all organizational levels to understand the importance of making decisions based on data – from the operational to the strategic level.

The strategy is to bring about a structural change in companies giving the leading role for technology and innovation. Through this structural change, it becomes possible to transform business and create a digital mindset – increasingly fundamental to the survival of corporations.

With whom?

Capabilities

To implement Data Science in your company you will need to have trained and qualified professionals. Unfortunately, data scientists are still expensive and scarce resources. Also, it does not sound agile to have just one or two data scientists in your organization, right?

With few professionals, many projects would be shelved and many processes would not be upgraded. Clearly, the labor of just one or two resources would not be enough to modernize a company in the short term (in fact, not even in the long term) – just as an Avenger alone could never win the battles against the villains.

In this sense, outsourcing makes it possible to hire robust and multidisciplinary teams that, in addition to bringing a different perspective into the company, can put several projects into practice at the same time, sequentially and in parallel.

This way, outsourcing provides more resources, brings agility, reduces the operational structure and, mainly, reduces costs and adds value to the business.

Where?

The applications and benefits of Data Science vary according to your company’s core business. The same is true of the infrastructure needed to place it within your organization: it will depend directly on the scope of the projects that will be implemented.   

However, some items are indispensable to take the first steps.

  • Infrastructure:
  • Robust Servers
  • Computing in the cloud.
  • Technology:
  • Artificial Intelligence and Machine Learning.
  • Data-driven language tools. For example: Python.

The vast majority of companies do not have this infrastructure and are looking for outsourcing options to meet that need through Big Techs (like Google and Amazon).

YOUR COMPANY CAN WIN THE INFINITY WAR

Data is increasingly impacting companies. Ignoring it would be the same thing as ignoring Thanos’s existence: it does not seem like a viable option, right?

The strategy is to decide how your business will deal with this impact: by shifting the mindset to a transformative culture and letting Data Science lead the way to innovation or surrendering to Thanos and vanishing in a snap.

The metaphor is not too distant. As we have already said, Data Science has a power very similar to that of the Infinity Stones in terms of order of magnitude. Its transformative capacity is already felt in many corporations.

The stones that Thanos gathered on the gauntlet have even greater power when used together. The same thing happens with Data Science. Using all of your areas and tools together with Design Thinking, Agile Methodologies , and a highly skilled team can be the ultimate dividing line between success and failure: this is what your company needs to win the Infinity War against the analog mindset.  

MJV has this expertise. Technology and innovation are in our DNA and are pillars of the business. Our mission is to guide customers towards the future through digital strategies, intelligent solutions and open innovation.

POST-CREDIT SCENE: ACTION! OR BETTER, IMPLEMENTATION!

It isn’t over yet! Do not leave the cinema… in fact, the MJV blog.

The post-credits scene here does not spoil the next movie, but shows you the next scene of your company. In it, you’ll roll up your sleeves and get your hands on work to implement Data Science in your business.

Continue to follow our series of blog posts Data Science: Infinity War. In the next post, we will bring an infographic positioning the superheroes of our saga and a canvas of innovation for you to transform your company in a strategic way.

To appease anxiety, how about taking a look at the characters that have already passed by? Iron Man, Vision, Thanos… Follow the Data Science saga: Infinite War and be a hero in your company!

Ebook - Data Science: the Infinity War

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