About Data Science

As the volume and sources of data has grown, so have the possible applications of analytics and data science. And with the advent of techniques such as machine learning and other AI-based solutions, the demand for access to data will continue to accelerate.

Leading organizations are responding to this acceleration by treating their data as an asset that can help them improve operational performance and identify opportunities for new revenue generation.

However, while certain industry sectors have quickly adopted analytics and data science — namely professional services, finance and insurance — there continues to be room for growth in the use of data in other industries, as well as an untapped usage of the data and analytics talent needed to support analytical efforts.

The amount of information and analytics organizations have access to today compared to years ago has increased exponentially. This deluge of data and information has created challenges and opportunities for CEOs who are accountable for the potential and actual achievements of analytics.

We aren't meeting current production/ service expectations. How do we change that?

When you became the CEO of your company, you understood the demands to manage effective functions and logistics of the organization. You also understood that building relationships with suppliers, shipping services, and warehouses were key to success. However, when you discover that your company is not meeting its production and service expectations, you realize that relationship building is not enough. If you do not have the appropriate tools in place to accommodate the desires of your customers, then your business relationships will crumble.

Enterprises of all sizes should be using data to drive their business decisions. Yet, many businesses are lagging behind the business intelligence made available by data analytics. This is largely due to one massive misconception: Analytics is too complicated.

Fortunately, analytics can be simplified. It all depends on using the right tools and finding and hiring the right talent.

Better Understanding Data Analytics

In our information-based economy, data is the foundation. Effective data analysis, management, and information delivery can make the difference between the rapid growth or plateauing of a business.

The mission of Chisel Analytics is to help your business gain access to top data analytics consultants to help you pursue insight-driven improvements to your company’s operations. Chisel’s platform pairs businesses with analytics consultants with the insight and expertise to turn your data into action and transform your business, and allows you to manage your analytics efforts and scale your capabilities up or down based on your unique needs.

Data analytics, through Chisel, can help you reduce inefficiency and optimize operations to save time and resources. That means more growth, faster.

As a CEO, you know you need data to help create efficient operations and logistics. However, like most companies, you are having trouble transforming your data into action. Focus on this problem becomes real when you hear your department heads lamenting about not getting the information and insights they need. Having access to analytics and information is vital to the growth of your business. Without access, you can not make insightful business decisions and you may miss information needed to help prevent you from starting unprofitable projects.

As more companies realize what an incredible corporate asset their data can be. finding the right analytics talent has become increasingly critical to pursuing impactful, data-driven strategies. However, the market for analytics talent is one of the most competitive. The Bureau of Labor Statistics predicts a 30 percent market increase within the field over the next seven years. The field is growing faster than data analysis jobs can be filled.

Pursuing Analytics in the Gig Economy

Like their peers, data-focused professionals are increasingly pursuing opportunities in the “gig” economy. Using their talents through freelancing gives analysts the flexibility to pursue tailored career options and achieve work-life balance.

The growth of the gig economy is helping these professionals realize their goals, and, conversely, organizations of all sizes are beginning to pursue a freelance workforce as a service strategy to tap into this growing base of talent.

Imagine the flexibility it could afford your organization to have on-demand analytics talent ready to jump in at a moment’s notice. You can easily see the advantage of tapping into this resource, especially if you have different data analysis needs on a weekly, monthly or quarterly basis.

Not being able to tell where to prioritize your investment decisions is not anyone's idea of a good business plan. Whether you're a CEO or a small business owner, you want to build a sustainable company. If you're not able to make data driven decisions about how to solve operational and logistical challenges and anticipate what type of investments will have the biggest impact, you might prioritize the wrong things and throw good money after bad.

Introducing Chisel Analytics

Each year, companies produce volumes of data from operations, transactions, web activity, and IOT, creating an avalanche of information available to those looking to better serve customers and refine business strategy. But by now it’s common to hear that, despite the availability and amount of data generated, companies still struggle to turn their information into insight and the benefits aren’t readily available to every company.

Why?

• Analytics can feel complex. Despite recognizing its potential impact, many organizations don’t know how to capitalize on their information to inform business strategy, improve customer experiences or enhance operations.
• Uncertainty in how to implement — This feeling of complexity can create uncertainty in finding the right talent and setting up the right management structure to support analytics, inhibiting adoption across organizations and putting stress on your hiring efforts.

That’s why we created Chisel. We believe that analytics shouldn’t be complicated.

In short, analyzing data is important because it assists businesses in making decisions. Data is just facts, figures and information waiting to be organized. Analyzing data is the process of organizing those facts and figures to help reveal vital insights into your business, identify problems, and form a plan of action. In that way, data analysis is like a check-up for your business. Analyzing data helps diagnose unexpected strengths and undiscovered inefficiencies in your organization to help you run a more efficient business.