Do you need a data science consultant?

What is data science consulting?

Data science consulting is a specialized service that helps companies effectively use their data to make data-driven decisions and achieve their business goals.

Data science includes data collection, data processing, data visualization, analysis and interpretation of data and also the basis for generative AI.

Suitable data models are created for this purpose, based on Machine learning can put on.

The goal of data science is to unlock the insights hidden in the data that can help improve business processes, identify new business opportunities, and increase overall operational efficiency.

Data science consulting is offered by data agencies, which help companies understand these various methods, expand knowledge about them within the company and establish them. This also includes creating an individual and appropriate data strategy.

What are the goals of companies that use data science consulting?

But when does a company even need data science advice?

The primary aim is to effectively use the large amounts of collected data in order to be able to make well-founded, data-based decisions. This can help optimize business processes, reduce costs, improve customer loyalty and identify new market opportunities. We have added more use cases in the section below.

In addition, data science often serves as the basis for advanced technologies such as generative AI. The use of artificial intelligence is often the game changer in development for companies customer-focused solutions.

As a result, data science can not only solve current challenges and enable data-driven decisions, but also lay the basis for using innovative technologies that have the potential to fundamentally change your business model and give you a competitive advantage.

What can you expect from a data science consultancy?

Depending on the maturity level of the company, data science consulting can produce a wide variety of results. Because there is no blueprint for companies on how to be data-driven.

Basically, however, data science consulting starts with a data Audit. It determines the technical and organizational maturity of the company and also formulates the vision of cooperation: Where should the joint journey go? What should the end product of the consultation be? What are the company's wishes?

From here, individual work is continued:

- Does your company just need an outside view or should data science consultants also work operationally?

- How much knowledge transfer for employees is necessary and useful? How can you train employees and enable them to continue working independently later?

- Would you like to work with generative AI in the medium or long term? What projects do you have in mind?

Development of projects in data science consulting

Of course, as part of a data science consultation, it is also possible to implement projects right away, e.g. as part of AI strategies, the conversion of tech stacks, the introduction of a customer data platform or the programming of your own tools.

Corporate culture as a result of data science consulting

Corporate culture is a point where data science consulting can support. Because a culture in which data is understood and regarded as an important and necessary tool creates the best ideas.

The goal of The Data Institute is for specialist departments to approach the data department themselves after consulting and establishing a data mindset in the culture in order to allow their own ideas to be implemented.

Why and when does a company need data science consulting?

Companies need data science advice if they want to fully utilize the added value of their data and base their business decisions on solid, data-driven insights.

Many companies are faced with a large amount of unstructured data. They are good at collecting data, but the next step is often missing: Structuring and efficiently using exactly that data. However, this use can also be used to develop new products or services — which then form the basis for new business areas.

And even if companies want to use generative AI in the next few months or years, or if they want to use processes and products based on Machine learning If you want to set up, a data science consultation is helpful. It provides support both when companies do not have the necessary know-how or resources, but also when they need expertise and new impetus. Setting up AI projects with the help of a data science agency can save resources and maximize profits.

Good data science consulting therefore also functions as a business consultancy — because it paints the vision of a data-driven company. After all, the use of data has an impact on all areas, not just the Business intelligence.

What are the advantages of data science consulting?

Involving a data science agency to implement projects and also to transform them into a data-driven company has many advantages:

Technical expertise from data science consultants

Data science consultants bring specific expertise and experience to companies. They have expertise in areas such as machine learning, artificial intelligence, statistics and data visualization, which are difficult for many companies to set up internally. In addition, a view from outside and also the contribution of further expertise helps — even for fully trained data departments — in order to shed light on challenges with the four-eye concept.

Using data more effectively through data science consulting

Consultants can help companies make better use of and interpret existing data to make well-founded business decisions.

Development of individual and tailor-made solutions instead of blueprints

Every company is unique, and so are their data and the associated challenges. A good data science agency can develop individual solutions that are tailored to the specific needs and goals of the company.

Optimizing business processes

By applying data science, hidden patterns and trends in data can be uncovered that can lead to new business insights and help improve business processes, products, and services.

Expanding your competitive advantage through data science

Companies that use data science effectively can gain a significant competitive advantage by making data-driven decisions, identifying new business opportunities, and responding more quickly to market changes.

Grow while saving resources

Effective use of data science can result in significant savings by eliminating redundant processes, improving inefficient operations, and avoiding costly mistakes. That means growth — and save resources at the same time

The future is calling for data science

With the help of data science consulting, companies can pave the way for the use of future technologies by building a solid data-oriented infrastructure and culture.

What steps does a data science consultation consist of?

Audit

The application of business intelligence is not a one-size-fits-all solution that can be applied equally to every company. First, data agency consultants must thoroughly record the company, assess the current state of development and gain a profound overview of the specific circumstances in terms of technology, architecture and corporate culture - a Data Audit.

Data science strategy

The audit has already revealed the first recommendations for action. On the basis of this, a comprehensive and individual data science strategy can now be created.

Data science tools

The range of tool providers is enormous. In addition to heavyweights such as SAP and Microsoft, there are also numerous medium-sized and smaller SaaS providers that can offer significant benefits to the organization. The appropriate selection of these tools, tailored to business goals and in harmony with existing tools and processes, ensures seamless operation and effective results. We call this the structure of Data Architecture.

Machine learning

Everyone is talking about artificial intelligence at the moment. Through projects in the area Machine learning form the basis for the use of artificial intelligence — and machine learning is based on data science.

For The Data Institute, we must first create a basis so that the companies we advise can celebrate long-term success!

Which data science agency is right for your project?

In order to use data science sensibly and efficiently in a company, an external perspective, e.g. from external consultants, can be very fruitful.

But of course, you also need the right contacts who suit you, your corporate culture and your project.

First of all, it should fit on a human level — agency employees, both consultants and engineers, must understand your challenges, address them and take your tasks seriously.

This also includes a holistic view of the company, the corporate strategy and the data strategy and the marketing strategy. In the best case scenario, all of these strategies should work together — a data science agency can also provide support here. However, she must require further skills for this project, including in corporate management and marketing.

With The Data Institute these strengths are combined — the founders not only have expertise in the data environment, but also in founding, managing and scaling a company.

Comprehensive preparation and precise selection of the data science agency ensures the long-term success that you want. Because data science is not a one-week project — in the best case scenario, the advice you seek will have an effect on the overall development of the company over the next few years.