Ready to see it for yourself?
One of our workspace experts will reach out to you based on your communication preferences.
Knowing when to hire a Data Scientist can be tricky. Data Scientists have the ability to detect and measure outcomes from iterative changes made in a service or product, which allows startups to adapt and evolve effectively.
They’re a great asset to your team. But if you hire too early they’re likely to be under-stimulated, under-appreciated, and could even quit. Hire too late and you’ve missed the boat on making key advancements in your business, as well as leaving the new hire with a messy and high pressured job.
We work with hundreds of startups at The Data Incubator, all looking to make their first hire or grow their existing data science team. For the startups looking to make an initial hire, knowing when is their most pressing question. Here’s our advice.
To put it simply, data science helps businesses make decisions on product and operating metrics. With a more basic toolset business intelligence and analyst, functions can also do this, though not to the same degree. Because of this, it’s worth exploring whether you need a Data Scientist just yet.
To leverage a Data Scientist in your team appropriately, you need a basic volume of events and historical data for them to provide meaningful insights on.
Firstly, at the beginning of your startup journey, you must assess how your data will be captured, the time period requirements for storage attributes generated, and end performance benchmarks for risk management and the customer experience.
Startups related to cloud-based or mobile offerings are likely to need at least one data scientist from the get-go, while others should hire a Data Scientist when they have enough historical data, a volume of events, and problems data science can solve.
We recommend learning what hiring managers don’t understand about hiring a data scientist, so you don’t make those same mistakes. A Data Scientist can seem like a magician at times, and while you can expect them to fix problems to some extent, don’t hand them a complete mess. The more scattered and overlapping your systems are, the less valuable the data becomes for large-scale analysis.
Remember, a Data Scientists main role is to effectively communicate insights from your data with the rest of your largely non-technical team, so your business can move forward in leaps and bounds.
Guest post by Catherine Moolenschot Marketing Associate at The Data Incubator
The Data Incubator is an 8-week fellowship training PhDs to become data scientists based in NYC, DC, and SF. The fellowship selects 2% of its 2000+ quarterly applicants and is free for fellows. Hiring companies (including EBay, Capital One, Palantir, Pfizer) pay a recruiting fee only if they successfully hire. You can read about us on Harvard Business Review, VentureBeat,WSJ, or the FT, or read about our alumni at LinkedIn, Palantir, Amazon or the NYTimes
With 5 billion people using the Internet, no business should ignore the incredible potential of digital marketing. However, in the oversaturated market, it is tough to stand out from the crowd. Plus many companies are seeking to create partnerships with others who will promote their products or services. This creates an opportunity for individuals who…
Coworking has become increasingly popular in the wake of the pandemic. The local resources offered are useful for freelancers, independent contractors, and remote workers alike. But it’s no longer just about the facilities - the coworking space design is also a significant factor for users. By creating a productive environment, a good coworking space helps…
Whether you’re looking for an NYC event venue for person or business occasions or you need a fresh perspective for your workday, a business address or virtual mail box, or if it’s time to level up your business and you’re looking to make some serious marketing moves, we have the answer for you!
Please select a different location.