Data That Can't Be Understood is Not Worth Much
This means that people (called Data Scientists) and platforms that can make data understandable are very valuable.
We know what Data Scientists are worth, with a median salary of $95,000. But what are the platforms worth?
Google and Salesforce have told us recently. This week and last, each took a big step towards solving the #quantcrunch with the purchase of analytics and visualization platforms that aim to bring data science insights to the masses.
This week Salesforce validated the "gold" status of big data with a $15.3 billion deal to purchase Tableau Software. Last week Google announced its purchase of business intelligence firm Looker for $2.6 billion. Both platforms are aimed at putting data analytics and data science capabilities into the hands of non-technical employees.
Salesforce already has a product called Einstein Analytics which the company promotes in its marketing materials with the question "why hire a data scientist when you have Einstein Analytics?". Salesforce promotes Einstein Analytics as "data science that is always available" and a tool which democratizes data. Now, with the purchase of Tableau, its quest to democratize data science and put it into the hands of business managers seems to be in full swing.
We agree wholeheartedly with Salesforce's conclusion. Data visualization is an oft overlooked skill when companies are looking for Data Scientists. Most companies are assessing coding skills first and foremost. But studies show that the ability to communicate data science insights to non technical business stakeholders is the skill that makes or breaks the value to a company of any data science project.
That's why at QuantHub, data viz is high up on our list of skills to assess.
You can read more about Salesforce's acquisition of Tableau in the following article: