Data science is one of the fastest-growing occupations and Switzerland continues to lead the way in innovation and technology, with several fintech and digital-focused companies on the rise. The field of data science has expanded rapidly in the past few years and has become central to a variety of industries. With the emergence of new technology and tools, there’s a greater need for skilled professionals who can analyse data and use the information for forecasting and predictions for businesses. Companies need to make sure they have the right level of data streams for business modelling and management. Below, we explore why data scientists are essential for modern businesses.

The rise of complex data

The rise of connected devices and business ecosystems has paved the way for a huge volume of complex data sources. Today’s businesses must understand how to handle and manage different sources of data because they’re key for gaining deeper insights into performance and productivity. Managing huge amounts of data can be daunting, but there are many self-service solutions and specialists like data scientists.

Real-time intelligence

In this fast-paced digital landscape, there’s a need to make real-time decisions faster and gather data more efficiently. It’s important that business intelligence and data science work in tandem for making informed decisions that could impact the future of the organisation. Business intelligence tools can collect and govern data to uncover new revenue opportunities, as well as derive actionable insights to help stay ahead of the competition. That’s why businesses can benefit from data scientists who have a strong business sense. The best data scientists can collaborate across departments to identify data sets and create automated dashboards, which analyse data in real-time. Data scientists combine insights, data and business intelligence to deliver real-time information.

Improved customer insights

One of the major benefits of hiring a data scientist is that they can help you gain a better understanding of your business’ customers – which is the primary way that data analysis and science is used. With the use of data scientists, businesses can create new pathways to increase customer satisfaction and retention. Highly skilled data scientists can analyse the market and make different conclusions on sales and marketing. With the number of tools and innovations available, data scientists can analyse different customer data points and outline ways to overcome any challenges, using customer feedback to inform decisions.

Risk management

Data science has been integral for risk management and digital security. With cyber-attacks and ransomware on the rise, data scientists can play a key role in helping prevent fraud by analysing business behaviour and making predictions about risk based on key findings. Risk management remains an important part of data science and analysis. Therefore, data scientists are highly important for businesses that want to combat revenue losses and keep track of the performance of the organisation.

Swisslinx is a leading recruiter

At Swisslinx, we specialise in a range of recruitment markets, including digital and technology, financial, natural resources and healthcare. Over the past 20 years, we’ve built a huge network of clients and candidates. As a result of our excellent service, we’ve established great relationships with those we work with. We follow a strong recruitment methodology and we’re able to provide our clients and candidates with the best market knowledge. Our consultants have a strong understanding of various roles and are dedicated to supporting your needs. Swisslinx is a market-leading recruitment consultancy and we’re always looking to grow. Contact us today to find out more about our services and keep reading our blog for interesting news and insights.