In a report published in 2019 by IBM, it was reported that the average cost of a single data breach is over USD 3.92 million.
Just a decade earlier, storing and maintaining data was a nightmare: there weren’t enough processes, inadequate infrastructure, and the lack of technological know-how to create that data into valuable information. However, with rapid technological advancements, we now live in a data rich environment. Around 2.5 quintillion bytes of data is generated and processed every day. Even the AI/ML algorithms have matured slowly to process this data. Therefore, it only seems fitting that data science is a job that has observed a high demand in the market lately.
We had the pleasure of speaking with Fiserv’s Dr. Sonal Modi on best practices to implement and champion organization’s upskilling programs in order to thrive in today’s changing work environment. This transcript is a snippet of the conversation and has been edited for clarity. If you’d like to receive the complete recording of the webinar click here.
90% of CEOs believe that digital transformation (DX) will impact their industry, but less than 15% are executing a digital strategy right now. While such slowness and reluctance to adopt would not have had such a huge impact before COVID-19, digital transformation is now no longer a choice, but rather a crucial driver of revenue, efficiency, and growth.
“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change” — Charles Darwin (1809-1882)
Work from home is a much-used term these days. Organizations usually have a defined set of processes in place for remote employees and for the one-off instances where a team or department resorts to ‘work-from-home. In fact, this is an option that offers your employees an added flexibility and if research is to be believed, it has also shown higher levels of productivity. Automattic, best known for giving the world WordPress.com, is working on a completely distributed model with employees all over the globe. So yes, there can be a success with remote working models.
‘Change is the only constant in life’ – Heraclitus, a Greek philosopher.
Every business has procedures and processes of their own when it comes to hiring and recruiting candidates. They have separate timelines, resources, expectations, needs, and priorities. However, there are some standard tips and guidelines that any company can apply to recruit the best candidates.
There are many ways of connecting with qualified candidates online. Social media has become a place where people like to share ideas and interact with each other. Different companies tend to include social media recruitment process for sharing different job-related messages such as LinkedIn, Facebook, Instagram, and Twitter.
Every organization wants to leverage the power of Big Data today. No surprises there. By extension, data scientists are in great demand.
