In the 21st century, our world is driven by technology and data. When companies combine technology, a humongous volume of data and analysis tools, they can almost accurately predict the future (if not see it). However, these are not enough. The company will need something additional to make the maximum use of data analysis, i.e., the right set of skills and leadership abilities. Here’s where a seasoned data science officer plays a crucial role.
A data scientist is an expert with impeccable mathematics, statistics and data analysis skills. They enable the company to make the right decisions at the right time through predictive modeling, advanced analytics, data visualization, etc.
But is your company ready for a full-time, in-house data science officer? If this question makes you think twice, then it is time to explore the possibilities of engaging a Fractional Data Science Officer.
Who is a Fractional Data Science Officer?
A Fractional Data Science Officer is a C-suite executive and a data expert. They are partly associated with the organization. Instead of being an in-house, full-time executive, they are an invaluable resource leading the concerned team from outside while working on a part-time basis. Small and mid-level companies can largely benefit from Fractional Data Science Officers as they bring the same level of expertise at a half the cost or probably, lower than that. A Fractional Data Science Officer is equipped with technical knowledge, strong business acumen and strategizing skills.
Their role is more than just unraveling patterns and information from company data. Their key findings aid the marketing, sales, finance, production, customer service and all other departments within the organization.
A high-pedigree Fractional Data Science Officer ensures that the company data is recorded and analyzed to benefit the company in revenue generation, capturing market share and making better strategic decisions.
Data is a critical yet vulnerable asset of a company. There are multiple data protection laws. However, for a business that’s growing, it can be difficult to ensure compliance. A Fractional Data Science Officer ensures that your company adopts law-abiding data handling practices. Onboarding a Fractional officer for data science is a low-investment decision that yields high returns in the future. Besides the technical and industry expertise, a Fractional Data Science Officer also adds leadership, wisdom and foresight to the company.
What are the key responsibilities of a Fractional data science expert?
A Fractional Data Science Officer plays a vital role in today’s data-driven business landscape. The role is now needed more than ever for staying up to date with emerging trends and remaining competitive.Some of the key responsibilities of a Fractional data science expert are:
- Analyze data and methodically present them for better understanding.
- Convert facts and figures into business scenarios and opportunities.
- Identify and mitigate risk through predictive analysis.
- Enable all departments to improve business processes by leveraging data.
- Design and manage algorithms.
Services offered by a Fractional Data Science Officer:
- Create deep learning algorithms facilitating machine learning.
- Strengthen sentiment analysis by employing natural language processing.
- Find opportunities and detect threats through predictive analysis.
- Drive improved decision-making by leveraging data visualization tools.
- Enable the marketing and sales team to personalize customer experience.
- Prevent data fraud or breaches by implementing industry best practices to safekeep data.
How can a Fractional Data Science Officer add value to your organization?
When you onboard a high-pedigree Fractional Data Science Officer, here’s how your company benefits:
- A data science officer is a strategic thinker and advisor, enabling managers to make data-driven decisions.
- They can identify opportunities in new markets, customer segments, and product developments through analyzing data and trends.
- They help your company measure, track, record and analyze the performance metrics of different strategies and campaigns.
- A Fractional Data Science Officer helps the top-level management redefine the strategies based on their performance and align those with the company’s short and long-term goals.
- They will also support the hiring managers in recruiting the right talent to build an in-house data science team that will foster a data-driven decision-making environment within the company.
A general job description for a Fractional Data Science Officer:
A Fractional Data Science Officer will be in charge of the collection, management, utilization and compliance of company data. They will also help the decision-makers make better decisions aligning with the trends through in-depth data analysis. Further, the officer will bring strong communication and leadership skills to the organization for leading cross-functional teams.
Cost of onboarding a Fractional Data Science Officer:
The standard remuneration of a Fractional Data Science Officer is less than an in-house data science officer, and that is why they are more affordable. This role is a new-age role in which the remuneration will depend on various factors. Some of the factors include years of experience, scope of work, and industry.
COHIRE’s simple process of hiring a Fractional Data Science Officer:
At COHIRE, we have designed an effective 8-step process for hiring the best Fractional top-level executives. This is how we do it:
Step 1: Tell us about your company and how can a Fractional CCO help you
Step 2: We will make an all-inclusive job description for finding the best applications
Step 3: We will track, monitor and shortlist all applications through ATS
Step 4: Our hiring experts will assess and shortlist the best applications
Step 5: You get to meet the selected candidates for an interview
Step 6: Get to know more about the candidate’s industry experience through previous case studies
Step 7: A background check will be conducted for shortlisted Fractional Data Science Officers. We will use reliable references
Step 8: Onboard your Fractional Data Science Officer and utilize the data mine to grow your business.
COHIRE: Your partner for finding the best Fractional DSO
Worried about onboarding a Fractional Data Science Officer who can understand your data needs and fit into your company culture? Let us take care of that! We find the best Fractional data science expert by accurately matching the profile with your company. So you will never have to worry about a bad hire. COHIRE also offers mitigation and conflict resolution services.
FAQs:
1. What expertise does a Fractional Data Science Officer bring to the company?
A Fractional data science expert is equipped with high-level data science and big data knowledge. They utilize such expertise to tailor unique solutions for the business. Moreover, their leadership guides the business and nurtures a data-driven decision-making environment in the business.
Q2. What challenges can a Fractional Data Science Officer solve in a small business?
The Fractional Data Science Officer helps the business effectively handle customer and vulnerable data without legal complications. They also empower the company to align their efforts with the available data to maximize returns on investment.
