EFFECTIVE STRATEGIES TO DEMOCRATIZE DATA SCIENCE IN YOUR ORGANIZATION

Chip Conley, head of global hospitality and strategy at Airbnb, believed that experience of staying in Airbnb is the soul of customer strategy. He accepted that data analytics is the key to understand and connect customer’s voice to Airbnb product line so envisage the experience customers are seeking when select Airbnb.In 2011, when Airbnb expanded out of SFO to 22 other locations internationally, they faced challenges with the team’s mix, collaboration, and business transformation. Airbnb survived the challenge by building data-driven culture and empowering its employees to work with data. Instead of the building spoke teams, democratizing data practices helped them go faster in the decision-making process.Today, no industry is untouched from digital disruption and the global economy is perceiving the business of data as one of the emerging sectors. What empowers Amazon to venture into healthcare? It’s the data that enable Netflix and Uber to transform business and build new markets. Per Forbes, the data economy is expected to grow to 35 zettabytes and to analyze this huge heap, organizations need analysts, if not scientists. The skills to analyze data and extract meaningful insights are still a niche in the industry. Most of the organizations relegate data and analytics responsibilities to a central team. No issues with this equation, but the challenge is how to scale and stay sustainable in the long run.The other major challenge is teaming and communication. Data scientists and business teams spend days in pointless discussions trying to dig through a problem. The lack of data literacy and ability to paint the business context causes brings friction between teams. This impacts business’s decision velocity and the ability to react on the fly, to internal or external factors.

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