The industry is facing a shortage of skilled workforce. A workforce that is ranging from data engineers, big data architects, data scientists and analytics managers. As technologies continue to evolve it becomes difficult to acquire, hire and retain good talent.
These new skills require new ways of working and therefore, companies need to explore their organizational culture.
Even if one does manage to acquire the right talent, the key is to ensure that this talent is leveraged across the firm and not be concentrated to just one or two departments.
Organizations also need
It has been noticed that Analytics teams in different divisions or business units tend to work with their own set of tools, libraries, software versions, and data sets. This lack of standardization can make it difficult to implement global solutions.
Organizations need to define standards with regard to tools, coding, version control, and quality control, and have all the teams working with the same tools and sharing their methodologies.
In addition, data science teams must have big data governance policies and processes in place, controlling access to the data and ensuring security and data privacy controls.
'Analytics Centers of Excellence' is-a-way to institutionalize and accelerate the adoption of AI-based automation, machine learning and big data within your organization.
We believe, the CoE must be a mix of business and technically savvy individuals with centralized and distributed competences and resources. While simultaneously, creating a common repository in which methodologies, tools, and models are shared.
This core team will grow as the organization expands, and will be able to offer its services to multiple departments within the organization.