May 3, 2022

The data ecosystem: make data science your innovation advantage

— Author: Editorial Staff

The greatest bottleneck to enterprise innovation is data. Enterprises want to use data to transform their business. However, they lack the processes and skills to quickly deploy effective data ecosystem and science solutions. Their approach is often to hire a data scientist and expect magic.

For enterprises, big data is a big problem in five unique ways—the volume of information they collect, the way in which it is gathered and shared, the complexity of handling a variety of unstructured data types, the efficiency of the output and proving the ROI associated with getting everything to work together seamlessly.

The data science community can find elegant solutions to the most complex problems we face. 

My experience with our 3000 strong data science community at Altruistic, shows that presented with the right questions, data scientists can tailor innovation to suit any industry’s context. AI and data science are the great general-purpose technology of this century.

The entire ecosystem needs to work around data scientists. If data scientists are working on challenge-based projects, using agile methods, then they can innovate faster, and create more value. Today, the vast majority of data science is bogged down in gathering and cleaning data.

The ecosystem at Altruistic is designed to help enterprises get challenges to data scientists in the most effective manner. Talent competence, tech stack, we cover the whole ecosystem at Altruistic. A business can go on this data journey from ideation to implementation using our agile framework.

The future of innovation is open

Data scientists will have their pick of challenges that enterprises pose and the ability to impact change worldwide. I want to foster the sense of community that we’re a part of something bigger and drive them forward. One of the interesting aspects of our group of data scientists is that they’re heavily derived from academia. If they’re working or studying and want to work on areas, not in their domain, it’s possible. I’m a big proponent of data science and AI. They are the future. And the more people who can operate in this space, the better.

The Data ecosystem

Many scientists and entrepreneurs have amazing ideas that can solve a lot of our world’s problems. But can’t get them to market for many reasons. The age of AI presents those working in technology with unique opportunities. Creating a circular ecosystem where the people behind the technology find purpose through mindful innovation. This journey is inevitable, Humans and AI have to exist in harmony.

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