Why Hiring a Data Strategy Consulting Company Might be a Great Idea
Often, when trying to implement Data Science or AI projects, companies refer to their IT or Data Science departments. However, it’s a common mistake that organizations make. As you might already know, before investing resources in any data initiative, it’s crucial to draw your Data Strategy first, and here you might need help from a Data Strategy consultancy.
4 reasons to hire an external Data Science and AI consulting company
1. When Business Knowledge Meets Technical Expertise
Typically, a Data Science or IT department consists of people specializing in a specific area. They might be great data analysts, developers, or others but the key to developing a data strategy that drives your business growth is to combine business knowledge with technical expertise. Here’s when a Data Science strategic consultancy company might help you and your business.
By hiring a consulting firm in the field of Data Science and AI you get not only technical people but also people with a business background and competences who will be 100% focused on your projects. These people will be the link between your development department and everyone else involved in the project and will ensure that your initiatives are implemented.
2. Focusing on One Goal - Your Success
The goal of a Data Strategy consultancy is to help your company achieve the defined goals and satisfy your needs and requirements. As soon as the objective is set or a problem is identified, consultants immediately start to find opportunities to implement the right data science and AI solutions that will effectively transform your business.
At eai.company we start by talking to the Board of Directors, managers and field-workers to understand the real needs of the company. We also go deeper and learn your mission, vision, values, long and short-term objectives and strategy. All this information is necessary for building a killer Data Strategy and understanding how to effectively communicate your new data-driven vision across the organization because Data Strategy must adapt to your business strategy, not the other way around. All data initiatives arising should be aligned with your way of working, and the holistic business approach minimizes the cost of change.
3. Identifying inefficiencies and finding solutions to improve your operations
In most cases, the implementation of Data Science and AI solutions is not possible without improving current processes. Transforming an organization is not something easy to do because usually, not all processes are transparent and bottlenecks are not easy to see. They could have already become a part of how your company works.
Often, consulting firms can quickly identify those inefficiencies because similar problems could arise when dealing with other companies. They know how to improve your bottlenecks the most effective and efficient way.
4. Cost Savings
It’s a fact that hiring a consulting company is more cost-effective than keeping salaried employees since you pay only for the services you need and when you need them. Instead of paying one full-time data scientist, you can work with the entire Data Strategy consultancy.
When your Data Strategy is developed, a data-driven path is defined and the high-value initiatives are chosen, the next step is the implementation. Sometimes, besides providing consulting services, a company can also provide you with the technical implementation of selected solutions. This will save you a lot more financial resources than hiring and managing a team of data scientists.