Should you build internal capabilities?
Companies will rely more and more on data, given how valuable data helps a company grow. By 2030, data-driven companies will reap US$ 15,8 trillion of value from the global economy, and more than 40% of large multinational companies that fail to adapt will perish or fall behind. With the demand to automate and develop data-driven capabilities, companies worldwide have been racing to build internal Data Science capability. However, while companies have invested in data and AI, skill deficits impede implementation. A shortage of skilled talent and the reality of data overload, data silos, and misalignment create challenges. Upskilling people into data-driven roles can help build data capacities to mitigate these challenges.