Myth 9: All data positions (Data Analytics, Engineers, and Scientists) are the same.
Truth: Within the data science industry, the roles often get misinterpreted. Data Analytics, Engineers, and Scientists have specific responsibilities to carry out. Data analytics are responsible for their analytical part, which involves data collection and interpreting valuable information from it. On the other hand, Data Scientists use the same data to make predictive models that predict future decisions and guide businesses on the right actions. Data engineering consulting is responsible for building and maintaining data systems to store large amounts of data.
Myth 10: Data science isn’t efficient in deriving monetary benefits.
Truth: In fact, data science actually enhances the financial value of businesses. When data science is applied to data collected through business marketing channels, it offers a clear picture of what’s working for you and what is not. Data science also helps make decisions related to customer acquisition, onboarding, retention, upsell, and other underlying areas, thus indirectly deriving monetary benefits for businesses.
Data science is a field that can effectively help you lay out business strategies and make remarkable changes in how you employ business practices. If being a business concerns you about how to beat the competition and strategically plan your products/ services, you should definitely enlist the help of engineering consulting services to get through.