Finding Order from Chaos: Why we need data scientists

It often seems like I spend more time cleaning my house than living in it, especially with kids. A basic fact of nature is that matter is constantly becoming more disordered. Scientists refer to this as the Second Law of Thermodynamics, and I am sometimes in awe of how a law that explains why stars die and scents spread through a room is seen in something as simple as toys on the living room floor.

This principle can be readily observed in a business setting where PCs and servers become filled with disorganized and often useless files. While our transition to electronic records and communications has certainly reduced our use of paper, the amount of data that we have to confront is no less intimidating than in "snail mail" times. Regardless of the format, sorting through the inevitable disorder that comes from having a business of any size is intimidating and tedious, because we do not want to throw away anything that might be important.

The size and types of data files that confront even a small business today are getting larger and harder to simply classify as "Junk" or "Valuable." Even if you do have the expertise to go through these files, the axiom of  "Time is Money" becomes very true. Also, sometimes what seems like random electronic garbage may have more value than you originally thought.

Buried inside those piles of gigabytes (or even terabytes) are fragments that can provide a surprisingly complete assessment of a company. Data science can provide insights into many important business topics including:

1) Increasing your customer base

2) Providing insights into why customers really chose a competitor

3) How to retain more clients in your practice

4) Employee productivity

5) Ensuring compliance with regulations and preparing for audits

6) How to reduce wasteful spending

7) Increase your margins

The purpose of this blog will be to provide examples of each of the topics listed above. I look forward to demonstrating the need for Data Scientists like me and justifying our role through concrete and easy to read posts.