The County is Home to Many Pioneers in Data Science.
Essex is right at the forefront of data science, with leading edge companies supported by educational opportunities at the county’s universities and colleges.
“The sexiest job of the 21st Century” – that is how the Harvard Business Review described the role of a Data Scientist in a 2012 article, and it is a description that is hard to dispute given the rise in profile, popularity and importance of data science for business in the new millennium.
The advent of big data in terms of information that is available online and in the cloud has created a whole new industry in cleansing, filtering and analysing unprecedented quantities of information – and using this analysis to provide game-changing insights to businesses.
Essex at the forefront
While the Harvard Business Review article examined the industry from a USA perspective, the same situation can be found here in the UK, and Essex lies right at the forefront of the data science revolution.
From property agents to distribution companies, more and more Essex businesses are realising that they can gain valuable insights and create competitive advantages through the data that is right at their fingertips. Not only are they now unlocking that data to develop their own businesses, but in doing so they are helping drive data science and business engineering as one of the most important business disciplines of the digital age.
This means there is significant demand for data-savvy professionals, and that demand is growing every day.
Objective IT, a leading software developer in Essex, is working in Partnership with University of Essex on data analytics, and this has already delivered their own clients with improved marketing data that is giving them a “competitive edge”.
How Does It Help Business?
Data science can transform business data into information that can be used to help better understand the current market and predict future market trends.
Complex computer algorithms are used to determine and examine the data that is most important to a business. Various statistic methods, ranging from heat maps to correlation charts, are then used to deliver actionable reports to business managers.
The reports and analysis can be used in several specific ways to help grow a business:
- Improving sales funnels
- Customer segmentation improvements
- Reduction of customer turnover
- Improving a supplier and customer relations
- Understand and expanding a geographic market
When business intelligence and data science is combined it can identify new opportunities and improve efficiencies to aid growth in even the most competitive markets.
Right now, there is a limited supply of professionals who can work effectively with big data, and this is reflected by the high demand for the best data scientists and data analysts.
The world of data science and business intelligence is new, exciting and potentially highly lucrative, so there is little wonder that it is capturing the attention of school-leavers, graduates and experienced analysts alike as a career choice.
The infrastructure within Essex is such that it does not only support the development of tomorrow’s data scientists through local businesses – there are also a growing number of academic courses available throughout the county and these are, in themselves, growing and developing every year.
At the forefront, the University of Essex offers both Bachelors and Masters degrees in Data Science.