The Path from Data Science to the C-Suite

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Executivesby Angela Guess

Gideon Mann, head of data science at Bloomberg, recently wrote in InsideBigData, “Over the next few years, we may be in for a wave of data scientist CEOs. While we all realize how vital top data scientists can be to an organization, this structural shift may not be for the reasons you think. This isn’t because data scientists are able to wring efficiencies out of sluggish businesses, or because they have the strong quantitative skills necessary for the role—but rather, stems from the trend that businesses today are becoming more data-driven in nature. In many ways, data science is similar to what finance was in the 2000s. During that time, finance became a key profit center across many industries, which led to a wave of CFOs rising to CEO positions. Today, as data continues to become a core profit center for many businesses, we are seeing more and more data scientists taking the helm as CEOs.”

Mann continues, “Not only are we seeing data provide unique strategic advantages to companies in more traditional industries, but we are also seeing rapid growth in the number of companies in the business of data. One great example of a new data business is Premise. Premise can collect macro-economic indicators more quickly than traditional surveys and government methods. It uses crowd-sourcing and micro-payments to collect point-of-sale costs for goods globally, and then synthesizes these point-estimates into a reliable indicator. Premise is purely a data company, and the best-equipped leader to run this business is a data scientist. Here at Bloomberg, we’ve seen first-hand the value that Premise and other data-centric companies bring to our financial clients and so, we expect companies like these to experience continued growth.”

Read more here.

photo credit: Flickr

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