Published on

February 9, 2022

Towards data centricity - Our Data Analysis & Visualization Program

Stefan Wolf photo

Stefan Wolf

Business Analyst

Category:

Product News

Reading time:

5

Minutes
Standing Woman with data code projected over her face

Why you need more Data Analysis and Visualization skills and how we ensure to build them.

Open Data Program – An introduction

With our Open Data Analysis & Visualization Program, we want to build the fundamental data skills everybody needs in order to work with data.

Starting on April 20th, participants will embark on a learning journey that guides them through the typical “data flow” in order to understand the most important data-concepts and improve their way of handling data; special emphasis will be put on the topics data retrieval, data wrangling and data visualization.

Learning paths tailored exactly to learners’ needs are accompanied by collaborative live-sessions and expert mentoring to maximize  learning outcomes  for each participant.

But why would you want to build more data skills in your company?

The answer for that is rather simple: You massively benefit from them.

Take a look at “Moneyball” for example, a movie based on real-life events:

Billy Beane, general manager of the Oakland Athletics, an American MLS Baseball team, just got kicked out of the playoffs. Having the smallest budget for new players out of all the MLS teams, he realizes that the club needs a change of strategy to be successful again.

The Oakland A´s in action

Instead of solely trusting recommendations from scouts, who used to navigate the talent pool largely based on gut feeling and intuition, Billy hires a Data Scientist  to run a statistical analysis on all the players available.

He then insists on hiring players that have been deemed inadequate by scouts and coaches but show great potential when solely considering the actual data related to players’ performances.

Most of the world will make decisions by either guessing or using their gut. They will be either lucky or wrong.

Suhail Doshi

Realizing the importance of the available data and making an effort to analyze it, Billy manages to lead his team onto one of the longest winning streaks of all time. The 2002 Oakland Athletics became one of the most legendary sports teams in history, revolutionizing the way players were scouted and drafted. All of that happened just because he made the effort to gather data and use it.

So why shouldn’t you be able to do the same thing?

By making use of the given data, you will be able to discover unknown patterns and thus inevitably foster innovation within your company.

  • Demand Planning
  • Price optimization
  • Trend Prediction
  • Customer Behavior forecasting
  • Competitor Research

All of these are use cases of analyzing your data, but there are many more! Most importantly, expertise with data tools generates new ideas and questions that are largely inaccessible when only relying on intuition or experience.

Here are some examples from German “Mittelstand” companies:

But you could go even bigger in scale:

Take a look at this study, focusing on the importance of data-centric work in the US healthcare system. Companies like Kaiser Permanente were not only able to save more than 1 billion USD but also helped to improve outcomes in cardiovascular disease just by updating the data exchange between its personal.

The same study conservatively estimates that between 12 and 17% of the baseline in US healthcare costs could be saved when inefficiencies are reduced with the help of big data.

So, no matter if you run an enterprise with hundreds of thousands of employees or a small-sized business, a stronger focus on the given data will always result in better solutions for existing problems or allows you to tackle problems that could not have been solved before.

How does the Open Data Program ensure to build those skills?

A recently conducted survey found that 50 out of 85 companies with an annual revenue between 250m€ and 1bn€ consider missing specialists and Know-how as the main reason handicapping their digital transformation.

This is why effective upskilling is urgently needed. The Open Data Program provides exactly that.

Here is how we do it:

The Open Data Program takes part over the course of 15 weeks. Learners will have to invest roughly 5 hours per week in order to  master some of the most useful data skills and their corresponding tools, like SQL, Python and PowerBI.

Collaborative live sessions and expert mentoring are integral parts of the program that come in addition to the use of the edyoucated platform with its personalized learning paths. The expert mentor team in the Open Data Analysis & Visualization Program consists of leading researchers, learning experts and consultants to maximize the learning outcomes of your employees.

Marius Vennemann - Managing Director and Dr. Nico Broers - Learning Expert
Part of the Mentoring team

Before and after the program, there will be one-on-one counseling sessions with our experts to plan the current and future learning journey. This way, we ensure that personalized learning on our platform is accompanied by personalized upskilling counseling. In addition, participants learn the thinking and planning tools to start developing their own company-relevant data use case!

After the end of the 15 weeks, learners are still able to use the edyoucated platform freely, to further deepen their data skillset or even expand their general skillset by choosing from a multitude of learning paths on our platform.

Because it is an Open Program, your employees will be joined by others who want to achieve similar goals, giving the participants the possibility to broaden their network!

Interested?

Request more information right here!

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