How to Get Ahead of the Competition with Data Science Consulting

Find out why interest in data science has grown over 5x in the last five years and how to leverage it for your business.

Despite the growth of data science, you might have a hard time coming by highly-skilled talent — but that’s where data science consulting companies come into play. These consultants go beyond traditional data analysis and create reusable, actionable models. Clients can then use these models as much as they need.

Data science consultants do more than most data science professionals and other types of consultants. In general, consultants answer questions once. They’re essential queries, but the answers are pale in comparison to the utility of the operational models provided by data science consultants.

What is data science?

Data science starts with the skills of data professionals like engineers and analysts. Some of these skills include programming, data analysis, and data mining. Data science differs in what these professionals do with their abilities.

It’s no longer enough to only collect data. Data science also involves the maintenance, processing, analysis, and communication of data. In other words, data scientists specialize in the steps taken after collecting data.

These steps culminate in answers and strategies that can help drive businesses. We’ve solved the challenge of storing data, so now we can focus on processing data and taking further steps with the results.

That allows businesses to make more accurate predictions based on their data. Insights based on past data are still important, but you can’t stop there if you want your business to thrive. The thing is, those insights don’t tell you everything you need to know to grow within your industry.

Data science might sound simple, but there’s a reason data science consulting is such a hot commodity. In many cases, you should leave data science to the professionals. Read on to find out why you should consider data science consulting for your business.

What is data science consulting?

Data science consulting is one of the best ways to influence change in your business. Consultants help with analytics, competence, and overall understanding of their client’s business.

One of the primary purposes comes down to educating clients on their data and technology. That’s not to say data science consulting stops there. Data science consulting’s most advanced functions deal with artificial intelligence. 

As you might know, AI and machine learning aren’t quite commonplace in many businesses. That’s why companies seek out data science consultants. They provide essential services that most people, even business owners, aren’t familiar with yet.

These services, while helpful on their own, can transform how a business operates when packaged together. Data science consultants provide that whole package and create actionable solutions for your team. 

Let’s dive into the ways data science consulting can help you and your business.

How can data science consulting benefit your business?

Data science consultants focus on four primary areas in businesses. They create a strategy, validate the strategy, develop a model, and train employees. 

Creating a strategy is the first step, and it’s an important one. Here, the data science consultant establishes a plan. The plan should consider what’s possible with your data and the best way to use it.

What good is a strategy if it doesn’t work? That’s why your data science consultant should next validate the plan they’ve created. They may have spent hours or days creating the strategy, but it can take months to implement. Without a solid, validated plan, you can end up wasting those months and starting over at square one.

Now comes the IT aspect of data science consulting. Developing a data product, tool, or any other type of deliverable begins here. All the hard work culminates in development, and you know without a doubt whether your data science consultant is worth their salt.

Let’s say everything has been perfect up until now. The data science consultant created a strategy, validated it, and developed the ideal solution for your data science needs. Great, but what if your team doesn’t know where to start with the new tool or system?

Data science consultants should now focus on teaching your team. That means making sure everyone’s literate and trained on the processes implemented by the consultant. After all, data science consulting is only as good as the results it brings. Your team drives those results with the insights and analytics provided by your consultant.

What should you look for when choosing a data science consultant?

We know what data science consulting is all about by now. What we haven’t talked about is how you can find the perfect data science consultant. Like any professional, every data science consultant is different. Here are a few essential questions you should ask before you get started.

First, consider the education level of the data consulting team. Do they have advanced degrees? Remember, data scientists are in high demand, and bad actors won’t hesitate to take your hard-earned money. Make sure the data science consultant you choose has a team of educated professionals.

Degrees are one thing, but relevant experience is just as necessary. Do your due diligence and research any data science consultant you consider. They should have experience in your industry and provide evidence of results. That could mean testimonials, case studies, or glowing reviews from past clients.

Now that you know your data science consulting firm is up for the challenge, find out if they have a plan. Is the method scalable? Can your business expect to grow with minimal difficulties? Make sure you choose someone who can lay out a plan for the foreseeable future (and beyond).

Finally, is the plan actionable? Does your data science consultant know how to translate their analytics into benefits? Make sure they do. A pie in the sky plan might sound great, but you don’t want to get stuck without a way to move forward after shelling out for consulting.

Ready to transform your enterprise with modern technology? RTS Labs is here to help — we’ve helped some of the world’s largest companies execute successful enterprise digital transformations, and we might be able to help your organization as well.