I recently read an article in American Banker titled, “Training Bankers to Be Data Scientists.” Perhaps the title of the article is a bit misleading or maybe it was meant to rankle data scientists or get their attention. Whatever the case, I don’t believe we are training bankers to be data scientists. Rather, we are training bankers to use the information that emanates from today’s new, advanced analytics solutions to empower anyone in the organization—from the front line teller, to the loan officer to the bank president.
As we’ve said in other blog posts, Red Lambda believes Big Data analytics should be accessible and easy to use for a wide swath of people within an organization. This democratization-of-data concept is one that we believe will help address the data scientist shortage. It doesn’t negate the role of the data scientist, but rather, by making analytics accessible and easy to use throughout the organization, it will actually evolve and enhance the data scientist’s position to a far more strategic role, which is vitally important in driving innovation.