Why data scientists are key to unlocking the value of the IoT

Data analyst Steve Jones outlines some of the reasons why data scientists are key to IoT value as the technology prepares to dominate the 21st century's digital economy


The IoT is burgeoning at a staggering pace, making it more imperative than ever before that contemporary businesses onboard professionals who understand how to leverage it for commercial purposes. Few professionals are better suited for this kind of work than data scientists, who are rapidly becoming recognized as one of the fundamental drivers of the recent IoT boom across the market.

Here are some of the reasons why data scientists are key to IoT value and how your business should be viewing them as information gurus as it prepares to dominate the 21st century's digital economy.

A gold mine is worthless without any miners

To put it simply, your business can't truly tap into the immense potential of the IoT if it doesn't have savvy employees with the knowhow needed to navigate its complex enormity. A gold mine is worthless without any miners, after all. It should thus be a priority for you to try and onboard some data scientists who have the potential to reshape how you look at huge sums of information. Presently, many business owners and entrepreneurs are shunning the IoT because they personally lack the statistics or mathematical skills needed to grapple with mountains of data. That's where your data scientists come in.

When it comes to making use of AI, for instance, you'll need professionals who can sort through dizzying reams of information to determine why a software went rogue when it did. AI is excellent, but it's still in its infancy and prone to many errors, after all. AI cannot really transform the contemporary market without the help of dedicated data scientists who can make our present dreams a practical reality in the near-future.

AI is only one facet of the tremendously complicated IoT, too. There's a myriad of other areas where data scientists can also help your business tap into the value of the IoT: Data scientists can produce value for companies by detecting fraud ahead of time, for instance, and by personalizing the customer experience by collecting and utilizing consumer feedback in a more effective manner. If you're worried that your business may soon find itself obsolete, then you should seriously consider onboarding one of these data gurus to help you retrofit your operations.

The field of data science is set to grow

With all of the hype surrounding data scientists right now, you might expect the field to be going through a golden age. It's a simple matter of fact that the data science industry is set to grow in explosive burst over the foreseeable future, however we're only at the dawn of a new era that will become defined by number-crunching machines and the savvy workers who know how to leverage them for success. This kind of automation goes beyond using a welcome email template. There are already good reasons to believe that machine learning and data science professionals are enjoying the fastest-growing jobs market in the economy right now.

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If the IoT is valuable today, it's only going to become more lucrative in the future. It's thus imperative for businesses that hope to harness the real value of the IoT to begin laying the foundations of their future success by enlisting the help of data scientists into their present operations. If your team doesn't have savvy data experts from its early days, then its latter days will be defined by an inability to make effective use of valuable information. Furthermore, any amateur data scientists you recruit today will become a full-fledged professional by the time their industry has become one of the most pivotal in the entire market.

Surviving in the contemporary business world is all about disrupting your competitors and staying up to date with the latest trends. Your business simply can't do that in the digital economy without collecting endless reams of data from your customers, suppliers, and competitors, and you'll need data scientists to make any sort of use of that information. Far too often, contemporary business owners are doing themselves a disservice by acknowledging how important a role information is playing in today's economy but not doing enough to onboard modern professionals with expertise in the data science industry.

The largest oil reserves in the world are totally useless without drillers nearby to tap into that black gold and bring it to the surface. Similarly, the lucrative information that's defining contemporary economic trends can't be leveraged by your company if you're lacking in data expertise. You don't have to completely reshape your company around data scientists, but if they're not a part of it then you're simply going to fall behind. Whether you're a large or small business and regardless of which industry you find yourself in, it's doubtlessly true that recruiting some data scientists onto your team is the first step towards discovering the key to IoT value. 

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