In summer 2016, Ciklum has started The DataminDS program to share the Data Science expertise and shorten the gap to meet the demand of customers for data science. Last week, the very first group of Data Scientists has graduated the Data Science course created jointly by Ciklum’s Big Data & Analytics team and Lviv IT School.
What do Data Scientists do?
As we have already mentioned, today an estimated 2.5 quintillion bytes of data are created daily. Within these enormous volumes lie the insights that could enable business to gain a competitive edge and provide a better consumer experience. That is why many companies have now made data science a top priority.
The issue is no longer about owning the most data, but rather how to turn data into insights. This is where data scientists come in.
Data Science is an umbrella term, which covers Big Data, Data Analysis, as well as Methods + Algorithms. The role of a data scientist is to mine massive volumes of data and pull out main insights.
Why do we support Data Scientists?
A McKinsey study predicts that by 2018 the number of data science jobs in the United States alone will exceed 490,000, but there will be fewer than 200,000 available data scientists to fill these positions. Globally, demand for data scientists is projected to exceed supply by more than 50 percent by 2018.
In 2016, Ciklum started The DataminDS program – collaboration with online (Prometheus) and offline (Universities, IT Schools) educational platforms, as well as internship in the company to support the Data Science talents.
In June 2016, the company granted two scholarships for talented students of the Masters Course with Specialization in Data Science at the Ukrainian Catholic University (UCU).
The support has already brought its first successful results – Vitaliy Radchenko, the Data Science Intern at Ciklum, and his team won bronze at the International Innovation Challenge 2016 in Canada, with an algorithm for The Bank of Montreal to predict client’s behaviour and to increase the investment product sales. The approach should increase bank revenue more than 5% and reduce the churn rate.
In September 2016, Ciklum has started the Intro to Data Science course with the Lviv IT School. Today the first graduates are already starting their first work with data.
So, What’s Next?
Closing the global data science talent gap won’t be easy, but it’s critical to ensure companies have the ability to make data-driven strategic decisions.
If you want to uncover new excellent business opportunities by identifying hidden patterns in data, as well use data to assist you in micro-segmenting the market and customising the products, check out these online courses recommended by Ciklum’s Data Scientists:
- Machine Learning by Stanford University
- Introduction to Data Science by University of Washington
- Data Science by Harvard
- Data Science by John Hopkins University
If you need to clean your unstructured data or wish to take your business decisions based on a robust analytics, do not hesitate to contact Ciklum.