As companies are trying to become data driven organizations, the corporate leadership is struggling to understand the road map to achieve this goal. Mr Bhupesh Daheria, the CEO of Aegis school of data science moderated a panel discussion during the data science congress event 2017 on how organizations can build a data driven culture.
The panel discussed various approaches for building a data driven organization, ranging from changes in organization structure to changes in the thinking approach within the organization. Organizations clearly needed to do more than just recruiting data scientists, or appointing a dedicated chief data officer.
Eminent speaker on the panel Dr. Kingshuk Banerjee, Director of Business Analytics and Strategy Consulting at IBM Global Business Services said that companies need to inculcate a culture of imagination, investigation and intuition. Imagination to think of great new ideas for improvements, investigation to understand the ground realities and keep up with the changes in business, and intuition to appreciate the nuances of data in order to interpret it correctly and apply it to solve business problem. He said that data is a mirror of real world emotions, and companies should be able to appreciate the insights that it brings along.
Talking about some of the real challenges in building a data driven organization, Dr. Banerjee emphasized on building the right governance framework around corporate data, that clearly defines the rights and responsibilities of data ownership, trading and ethical issues associated with it. He also emphasized on the challenges associated with data quality and integrity, especially when the exact use of data is not known during the time of data collection.
Data scientists are now the hot ticket in the business world, and although there seems to be a general consensus on the broad skills of a data scientist, which include a mix of computer programming, statistics and business domain knowledge, Mr Banerjee said that the data teams in reality require many more skills, including people skills, exploratory and investigative skills, collaborative skills and thought-leadership skills.
Eminent leader on the panel, Rajeswari Aradhyula, Chief People Officer at Fractal Analytics said that data scientists need a lot of perseverance and curiosity to perform their tasks. She said that when analyzing and interpreting data, organizations need to acknowledge the fact that humans can be irrational at times in their behavior, and apply analytics keeping that premise in mind.
Panelist Dr. Venu Gopal Jarugumalli, Practice Leader of Data Science and Big Data Analytics at Cisco said that data scientists many times have to work in small teams, within lab environments, as against engineering teams who work in very structured environments. Hence data scientists should be able to build solutions within the constraints of the skills they have. They should be able to build solutions that can scale for huge volumes and can be deployed. He also said that data scientists should be able to effectively convert business problems into analytics problems, and should have a lot of patience, especially when working with huge volume of data.
Panelist Rajan Sethuraman, Chief People Officer at LatentView said that data driven organizations continuously keep looking for the needle in the haystack and question the exceptions rather than the rules. Their findings have business relevance, and include actionable recommendations that are presented and communicated effectively to the right stakeholders. Mr. Rajan emphasized on the fact that its much difficult to find the professional and consulting skills that are as important within data driven organizations, as the technical and business skills.
Panelist Dr. Abhijit Gangopadhyay, Dean of Aegis School of Business, Data Science and Telecommunication & Founding Dean of IIM Indore said that there is a great deal of aversion towards data within Indian businesses.
He stated that in order to make an organization data driven, data should be available with people at the bottom of the pyramid. Employees should focus on growing in their job instead of growing in designation or levels. He emphasized on the fact that today, unfortunately, organizations are a political entity, rather than data driven entity, and that is the main cause of attrition within the organizations.
The Data Science Congress is working to bridge this gap, by spreading awareness of data science within the industry, and encouraging companies to leverage the unlimited power of data to build new competencies and business models.
Data Science Congress 2017 event – A Confluence of Analytics, Big Data, Machine Learning, Artificial Intelligence, Internet of Things & Cognitive Computing was organized by Aegis school of business, data science and telecommunication on 6th, 7th & 8th July 2017 in Mumbai India.
The event was the largest data science event ever witnessed in India, and was attended by various high profile corporate and political delegates across the country and many data science professionals, students and enthusiasts. Data science congress is trying to build an ecosystem which will help India to become the center stage for the research and development of data science skills.