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Why Should Companies Hire Data Scientists?

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Businesses often hire a data scientist to make the most of their biggest opportunities, using the power of data to discover information, trends, and insights to inform their strategies and ensure their investments have a strong chance of success.

Guru provides an easy solution for every employer unsure of how to recruit data scientists with exceptional skills and knowledge and affordable freelance rates, with a huge network of thousands of data scientists as well as free job postings and secure workflows.

How much are data scientists paid? Freelance data experts charge from $18 per hour, with rates available per hour, day, week, or project–depending on your requirements.

What Is the Commercial Benefit of Hiring a Data Scientist?

Big data is a minefield of potential information, but the sheer volume of data available to modern businesses can be difficult to manage, particularly where raw metrics are unformatted or saved within various software suites and programs.

Data scientists go behind the initial data cleaning, formatting, and organization a data analyst or technician provides, and complement your existing data assets with in-depth research, applying algorithmic and machine learning techniques to unpick the information, find meaningful insights, and turn data into tangible directional guidance.

Hiring a data scientist can be beneficial in countless scenarios, but they are often tasked with the following:

  • Optimizing internal processes by discovering pain points and bottlenecks
  • Introducing new ideas to approach market segmentation
  • Discovering insights into trends, novel solutions, or gaps in the marketplace

Although an experienced data scientist is usually also proficient in programming and data research, their most important skill is translating their detailed, business-specific findings into creative or visual outputs, explaining what the data means, why it matters, and what the business can do with the results to improve their growth, revenue, or profitability.

Examples of Outsourced Data Science Projects 

A data scientist’s versatility and breadth of knowledge can be applied to many scenarios, from business intelligence to software development projects. Below, Guru runs through a few examples of popular data science projects that professional freelancers are more than capable of tackling.

Creating Accurate Forecasts and Estimates

Many different apps and software solutions provide estimates. Still, most are based solely on historical data rather than trend research and statistical analysis that may indicate future changes that will impact your budgets. Machine learning and data manipulation through neural systems can accurately predict results, outcomes, and shifts in trends, identifying opportunities to target sales, withdraw certain products strategically, or introduce new solutions at an optimal time.

Improvising Business Scalability

Marketers endeavor to showcase the benefits of their product or service and why it solves a consumer problem; a data scientist takes this further, exploring customer demographics and behaviors to influence how you promote and advertise your brand, leveraging emerging or predicted trends.

Developing Informed Company Strategies

Data is impartial and, once validated, can help business owners make astute decisions with an excellent overview of their trading environment, economic factors, and other indicators that may impact their operations.

Using the outputs provided by a data scientist creates an objective base of knowledge, from analyzing when and why a customer might choose another competitor, spotting gaps and opportunities to engage with new demographics, or addressing an issue that is a potential barrier to success.

Customer-Centric Assessments

Any business, whether B2B, B2C, a large-scale corporation, or a small independent company, exists to serve its customers, and although trends often emerge slowly, a clear pattern is easily concealed under raw, unformatted, and unanalyzed data. Experienced data scientists unpick the underlying statistics and metrics to drill down into the drivers behind consumer behaviors, such as future technological innovations that are likely to render one product redundant.

The scope of research can be broad, ensuring that even data that hasn’t yet come to your attention is incorporated into your planning–such as features in development that are due to reach the market in the following year or shifts in consumer priorities towards sustainability or carbon-neutral credentials.

How to Hire the Right Data Scientist for Your Business

With tens of thousands of specialist data scientists available for hire, the fastest way to find the best-suited professional for your project is to post a job, free of charge, via the Guru freelance platform.

Adding as much detail as possible about your requirements and objectives, as well as your budget, ensures appropriately skilled data scientists can apply directly with a proposal, allowing you to pick and choose the data expert who feels the ideal match for your project!

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