Productivity Talks… Glasgow, November
Slides from this event are now available on the resources section of the website. Please log in to your account to access.
Using the skills of a data scientist: How an MSc student placement made an impact
These days, there is no shortage of data – even the earliest stage entrepreneurs are finding themselves sitting on mounds and mounds of it – and it often leads to the same question: How can I use this to help me grow?
According to McKinsey, in 2011 the US alone would face a shortage of 140,000 to 190,000 people with deep analytical skills and 1.5 million Big Data Analysts and Managers in the following two years[1]. All this shows the skyrocketing demand for people with Data Science and Data Analysis skills in the world, today.
Andrew Conkie shared his experience of taking on a Data Science MSc student placement at the Productivity Talks event and asked the audience to consider the following:
1)Where is your company on the data maturity scale?
2)Do you know what data you are gathering and how much value is it adding to your business?
3)Could a temporary data scientist assist you in harnessing the power of the data you have to help decision making, streamlining operations, gathering intelligence or adding value?
For more information on The Data Lab and MBN who run the programme, Contact Bethany: academy@mbnsolutions.com
Preparing for growth
Melissa Cairney talked about how the company have changed their operations to increase production as their markets grow as well as the investment in the current staff, future workforce and infrastructure to prepare for further growth including how a change in one position resulted in a 100% increase in production capacity.
A report for the Department of Business Innovation and Skills in 2014, reported that businesses that consistently invest in R&D are 13% more productive that firm that don’t[2].
Productivity & it’s energy zappers!
The UK has a longstanding productivity challenge; even before the financial crisis labour productivity was on average 13% higher in the rest of the G7 countries compared to the UK. This ‘Productivity Gap’ has since been exacerbated by the UK’s unusually weak productivity growth since the financial crisis in 2007-2008 – referred to as the ‘Productivity Puzzle’.[3]
Wendy Pring spoke about how she identified the productivity zappers in her own company and the journey that she is on to overcome these. She also shared courses/programmes which have been beneficial in the company’s growth journey:
- Commitment to Scottish Business Pledge
- Growth Advantage Programme
- SERLP
- HUB SOUTH WEST
- SCOTLAND CAN DO
[1] https://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/big-data-the-next-frontier-for-innovation
[2] Department for Business Innovation and Skills (2014) Innovation Report 2014: Innovation, Research and Growth
[3]https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/844506/business-productivity-review.pdf
