There are many advantages when a company hire an Data Scientist. Data Science can add value to any business who can use their data well. It is valuable to any company in the industry. Data Science changes the way we work, the way we use data and our approach to the world. If a company hire an Data Scientist will their business growth rapidly increases? Yes, but they have to do and follow certain activities.
If companies are unable to grow, they are lagging to do certain activities:-Measuring quantities or data, measuring costs and profits and also reducing cost to improve growth rate.
First thing to do is start recording information, start capturing data and about costs. Once you have data you can apply algorithms and analytics to it. If we are capturing data we must archive it. Do not over write on older data and data never gets old even after more years. Make sure about consistency and have a proper documentation.
Start measuring things. Data Science inside a company is only going to be as valuable as the data are collected. If something is not measured its very difficult to improve or change it. Important step is measurement of data or quantities.
Finding an team of members who loves to work as a Data Scientist. Companies should remember that its key to have a team of members who have strengths in different areas of Data Science.