Posts tagged Much

Why Data Scientists Get Paid So Much

Sure, it might be more fun to be a painter, teacher or police officer. But if you’re looking for the highest paid profession, data science is hard to beat.

Yes, CEOs make more, coming in at a median salary of $740,589. But among the jobs available to the remaining 99.999% of us, data-scientist salaries are hard to beat. In fact, for job postings nationwide, data-scientist salaries are 113% more than average salaries for all job postings, according to Indeed.com

But while “data science” may sound cut-and-dried to outsiders, the practitioners who really deserve their big bucks are anything but. Making data science sing is a matter of mastering statistics, math and programming, and then deploying them to derive insights using the same business understanding—and gut instinct—that drives most company-executive decisions.

Which, of course, means that only a fraction of data scientists do their jobs well.

Data Is Money

The average data scientist today earns $123,000 a year, according to Indeed.com. But the operating term here is “today,” since data science has paid increasing dividends since it really burst into business consciousness in 2012.

This corresponds with increasing frustration as organizations struggle to make sense of their data, a fact highlighted in a Gartner report on Big Data adoption. When asked what the biggest Big Data challenges are, most of the answers roughly translate to, “We have no idea what we’re doing.”

I don’t want to depress you, but it’s just going to get worse. Ninety percent of the world’s information was created in the last two years. Eighty percent of all enterprise data is unstructured, which means it’s not the neat and tidy data that for decades has been held in relational databases, which in turn plug nicely into “business intelligence” tools, enterprise data warehouses and other traditional data analytics systems.

Today’s data needs different tools. And it requires a different sort of data scientist.

A Very Hard Role To Fill

It’s not surprising that data scientists get paid so much. After all, they’re extraordinarily hard to find, given the combination of skills necessary to do data science well. While there’s some truth to the joke that “a data scientist is a data analyst that lives in California,” it’s also true that data science is real—and really hard.

The reason is that data science, done right, involves three different areas of expertise. 

As Mitchell Sanders notes, a good data scientist blends domain knowledge (i.e., they know the banking or retail or whatever industry they operate in), math and statistics expertise, and programming skills. Too many organizations think that they just need one of these areas covered. In fact, far too many overlook the people already within their own organizations: those that have the domain knowledge necessary to asking intelligent questions of their data. 

This is why I’ve long agreed with Gartner analyst Svetlana Sicular’s assertion that “companies should look within” for data scientists. As she notes, “Organizations already have people who know their own data better than mystical data scientists.” (Or, as Sicular also notes, “Learning Hadoop is easier than learning the company’s business.”

Such context is critical, but not sufficient, as Sanders stresses:

Understanding correlation, multivariate regression and all aspects of massaging data together to look at it from different angles for use in predictive and prescriptive modeling is the backbone knowledge that’s really step one of revealing intelligence…. If you don’t have this, all the data collection and presentation polishing in the world is meaningless.

While some companies purport to be able to fill in data science knowledge gaps, the reality is that data science is hard … and hence richly rewarded. 

Human, All Too Human

Still, given the difficulty of deciphering meaning in mountains of data, it must be frustrating for data scientists to regularly see gut instinct trump data, as a new study by Fortune Knowledge Group reveals. The survey of 720 senior business leaders found that 62% of business leaders said they tend to trust their gut, and 61% said real-world insight tops hard analytics when making decisions.

In other words, they rely on real-time application of domain knowledge to hard problems facing their organizations.

It doesn’t have to be this way. For data scientists who want to truly earn their $123,000 salary, they need to figure out ways to marry statistics, math and code to the “softer” world of instinct born of experience. Those who figure this out will be able to not only ask and answer harder questions, but they’ll also find their C-level executives more likely to heed their advice. 

Lead image courtesy of AMC’s Breaking Bad

View full post on ReadWrite

Looks Like Google Hates “Jersey Boys” Just As Much As The Film “America”

Filmmakers behind “America: Imagine the World Without Her” have accused Google of keeping their movie’s showtimes and locations from appearing in search results. As it turns out, “America” isn’t the only film not getting fair play from the search engine. Based on…



Please visit Search Engine Land for the full article.

View full post on Search Engine Land: News & Info About SEO, PPC, SEM, Search Engines & Search Marketing

88% Of Consumers Trust Online Reviews As Much As Personal Recommendations

We at BrightLocal have released the findings of our annual Local Consumer Review Survey, which reveals the growing importance of online reviews in the purchasing decision. About Local Consumer Review Survey 2014 This is the 4th year we have conducted this study into consumer usage and attitudes…



Please visit Search Engine Land for the full article.

View full post on Search Engine Land: News & Info About SEO, PPC, SEM, Search Engines & Search Marketing

Study: Top 5 Search Engines See Search Traffic Drop By As Much As 31% Since December 2013

A newly released report from Shareaholic claims the top five search engines — Google, Bing, Yahoo, Ask.com and AOL — have all experienced a decline in search traffic since December of 2013. Using data from December 2013 through May 2014, Shareaholic evaluated aggregate organic search…



Please visit Search Engine Land for the full article.

View full post on Search Engine Land: News & Info About SEO, PPC, SEM, Search Engines & Search Marketing

The Cloud-Computing Market Could Be Much, Much Bigger Than We Thought

A billion dollars isn’t what it used to be. Indeed, anyone that hanging around the cloud computing industry for the past couple of years has been barraged by $1 billion strategic commitments from big vendors like IBM and HP. While $1 billion sounds like a big number, it’s not always clear how much of those billions are being spent on hand-waving marketing versus serious cloud engineering. 

Even if we credit these efforts as serious attempts to transform old-school enterprises into new-school cloud vendors—and we should—what’s more interesting is to understand just how much business is actually moving to the cloud.

A startup out of Portland, Oregon, called Cloudability may be able to tell us. And the answer is, “far more than we may have imagined.”

Billions In The Clouds

Cloudability gives companies visibility into how much money they’re spending for cloud computing services like Amazon Web Services (AWS). Last week, Cloudability crossed the $1 billion mark in cloud spending managed by its system. That’s $1 billion in cloud spend in the three years since its founding, $999,000,000 more than the company managed in 2011.

For a still relatively small startup to be notching those kinds of numbers, it suggests that even our most optimistic estimates of cloud computing spend may be low.

Earlier this week I talked with Cloudability’s CEO, Mat Ellis to get his thoughts on the significance of its own $1 billion announcement and why cloud spending is accelerating.

One of the big shifts driving more money being spent on AWS and other cloud services, Ellis points out, is the cloud is becoming an essential part of the “compute supply chain.” In other words, rather than vertically-oriented IT services built and running within the company’s own data centers, companies are shifting more IT services to public cloud services and plugging into published APIs rather than write their own code. 

A shift is taking place away from isolated, departmental deployments to public cloud resources and instead “enterprises-wide spending.” Some of this is driven by a desire to shift spending from capital expenditure to operational expenditure. Some of it is simply driven by increasing comfort with public cloud security and performance. Whatever the reason, enterprises are clearly spending lots of money on cloud computing.

Analyzing And Controlling Cloud Spend

The growing amount of dollars going into enterprise cloud deployment is why a company like Cloudability can exist. As Ellis suggests, while everybody knows cloud is growing, “what they don’t know is the havoc it’s having inside companies as they try to manage their spending.” Developers who report into a line of business are tasked with writing applications. How is of less importance. This ‘bottom-up’ IT phenomenon is “a big reason cloud cost analytics have become mandatory for large buyers of cloud services” because, “if you’re spending lots of money on cloud, you have to manage it actively,” according to Ellis.

Which, of course, is exactly what we saw happen with the growth of the open source movement.

Open source, beloved by developers even as it was initially shunned by company executives, became part of the business fabric of software development without the business leaders ever realizing what happened. Cloud spending has followed this same path. Unlike open source, where lawyers got involved to ensure nobody was giving away critical IP, in cloud computing it’s very become a mater of managing cost.

 

As Ellis points out, this isn’t about cutting cloud spending, but rather about channeling it:

Cloud analytics really isn’t about cutting costs, like most people think, but rather to see where it’s happening and where it could be best spent. In fact, nearly all of our enterprise customers are using us to help them expand their cloud usage, but in a controlled and efficient way. Once you’ve demonstrated this stuff works and makes you a profit there’s really no stopping it.

Developers, Developers … Developers!

When I asked Ellis what all this means for traditional IT, his response was immediate: “The CIO role is fundamentally changing.” Not changing in a “the CIO is doomed” sort of way, but changing in terms of a fundamental shift in what the chief information officer does.

CIOs, Ellis says, generally understand that the entire way they buy, sell and support IT services is shifting. One of the biggest challenges CIOs have is when and how to really engage with the cloud. I quoted Fidelity Investments’ CIO in recently, “We know about all the latest software development tools. What we don’t know is how to organize ourselves to use them.” This is true of CIOs and public cloud services, too. The spirit is willing; the flesh proves very weak.

But the first step is to understand how their users are spending money, Ellis points out.

As for developers, cloud’s impact on them is huge, too. Ellis suggests that, “They’re now operating in territory beyond the code they write,” with “corporate visibility into their spending that forces new levels of fiduciary responsibility.” But, again, it’s not really a matter of cutting down spending, but instead “analytics tools like ours give them the ability to justify asking for more resources to do more things.”

More resources to do more things. Billions more.

Image courtesy of Shutterstock

View full post on ReadWrite

SEOs: Negative SEO On Google Much Easier Now – Search Engine Roundtable

SEOs: Negative SEO On Google Much Easier Now
Search Engine Roundtable
As you all know, negative SEO is not new, in fact, Google has said it is rare but possible since 2007. Sites as large as Expedia may have suffered from it and Google had to reword their documentation on the topic. But now that we have SEOs threatening …
Cloak Hosting Declared Best SEO Hosting by HostingReviews.coDigitalJournal.com

all 2 news articles »

View full post on SEO – Google News

At Five Years Old, Microsoft’s Bing Search Engine Has Much To Show Yet More To Grow

Microsoft’s Bing search engine turns five this week. There are good reasons for some birthday celebrations at Microsoft. The company has created a solid competitor to Google, grown its share and created a search platform for other Microsoft products. But when it comes to mindshare, Bing is…



Please visit Search Engine Land for the full article.

View full post on Search Engine Land: News & Info About SEO, PPC, SEM, Search Engines & Search Marketing

New App Reveals How Much Information You’re Giving To Facebook by @mattsouthern

A new web app that’s being described as “unnerving” and “disturbingly accurate” was launched last week, which provides an eye-opening look into how much Facebook really knows about you. The new app, called Digital Shadow, was launched as a promotional tool for the upcoming video game Watch Dogs. It uses data you’ve given to Facebook to guess your location, your income, and your passwords. In addition, the app also looks through your connections to find your “obsessions”, “stalkers”, and “liabilities”. People you interact with more than they interact with you are considered “obsessions”, people who interact with you more than you […]

The post New App Reveals How Much Information You’re Giving To Facebook by @mattsouthern appeared first on Search Engine Journal.

View full post on Search Engine Journal

New App Reveals How Much Information You’re Giving To Facebook

A new web app that’s being described as “unnerving” and “disturbingly accurate” was launched last week, which provides […]

Author information

Matt Southern

Matt Southern is a marketing, communications and public relations professional. He provides strategic digital marketing services at an agency called Bureau in Ontario, Canada. He has a bachelors degree in communication and an unparalleled passion for helping businesses get their message out.

The post New App Reveals How Much Information You’re Giving To Facebook appeared first on Search Engine Journal.

View full post on Search Engine Journal

Turns Out Galaxy Users Don’t Much Care For Samsung Bloatware

Remember all those sort of wild-sounding software features that Samsung insists on stuffing into phones like its Galaxy S3 and S4? The ones you never use? Turns out, no one else does, either.

See also: Samsung Galaxy S4—Sometimes More Is Less [Review]

A recent survey by Strategy Analytics found that Galaxy S3 and S4 users spend a mere six to 18 seconds a month on pre-installed Samsung apps such as ChatON, Group Play, Samsung Hub, and Samsung Link. Engadget reports that users spend larger amounts of on-device usage on popular apps like Instagram and Facebook—151 minutes and 11 hours per month, respectively. 

Image courtesy of Shutterstock

 

View full post on ReadWrite

Go to Top
Copyright © 1992-2014, DC2NET All rights reserved