As per the 2019 Big Data and AI Executive Survey, it is said that around 72% of the participants reported to not have forged a data culture. Today, the ability to grasp, understand and identify opportunities equals to the long-term success of companies. It has now become significant for organizations to establish a data-driven culture to empower data science skills and stay competitive in the competitive job market.

Sadly, the state of organizations with the data-driven culture around the globe is such that instead of numbers rising, it seems to depreciate year after year. In 2017 – 37.1%, in 2018 – 32.4% and in 2019 – 31%. Looking at the current state it is quite depressing to know that due to the lack of skilled data science professionals, data-driven cultures have been restricted to several organizations.

Significance of data-driven cultures

Data is the new oil for businesses that are looking to unlock the full potential of an organization preparing them towards implementing data-driven decisions. Doing so will help deliver personalized digital experiences toward the customers and stakeholders.

Here’s an infographic that mentions the current ongoing scenario-

Report by Gartner says that currently, there are near about 87.8% of executives declaring that they desperately need to invest in data-driven initiatives today. Also by 2020, 80% of organizations must start looking toward reinforcing competency development to acknowledge the shortage of data scientist skills the industry is facing.

One of the largest benefits of having a data-driven culture is the impact of enhanced effectiveness and efficiency it has in driving the core business competencies.

Digitization has no doubt pushed boundaries for businesses to become more data-driven. However, with the scarcity of data science professionals, it is evident that organizations need to foster changes today. The real journey toward becoming a data-driven organization is possible only if there’s a data science framework that needs to be followed.

Data science professionals, big data engineer, and big data analysts must have extensive knowledge in areas like big data value chain industry applications, critical elements of big data strategy and management ecosystem, data science programming engineering, big data analytics visualization and reportage, and data science professions workplace career environment.

Having this framework in mind, professionals can embark their journey toward grabbing high-paying salary compensation. Data scientist was ranked among the highest-paid and satisfactory job profile by Glassdoor.