When embarking on a data science project, many companies are faced with the dilemma of having to choose between hiring data scientists or hiring an expert consultancy.
The question is the same as always, which is the best option?
Hire Data Scientists
Advantages
- Hiring data scientists who are directly part of your team creates greater cohesion among colleagues.
- Internal data scientists have a better understanding of the core business of the company and the problems it faces.
- In addition, hiring data scientists does not mean that the services of an external consultancy firm with more experience in solving problems similar to yours are not hired separately.
Disadvantages
- Crear un equipo interno de Data Science conlleva una gran inversión en tiempo y se necesitan
- Creating an internal Data Science team requires a large investment in time and certain knowledge is needed to identify the profiles, levels of expertise and tools that the company will need.
- In the absence of a portfolio of previous success stories or projects on similar problems, models have to be built from scratch, which delays the development and implementation of initiatives.
- Sometimes it is difficult for an organisation to deal with situations outside its core business.
- Creating an internal Data Science team is much more costly than hiring the services of a consultancy firm.
Hire the services of an expert consultancy
Advantages
- The consultancy company has experts in Data Science with proven experience and enough tools to deal with any existing problem.
- You do not need to have technical knowledge about Data Science. All you have to do is explain your problem to the consultancy firm and they will provide you with the right professionals and tools to solve your problem.
- Having worked with multiple companies from different sectors to solve different problems, they can identify similarities that allow them to provide better results and solutions.
- Consultancy firms have the know-how to get to work immediately and solve your problems effectively. They use tried and tested models, so you can achieve your goals much more quickly.
- It is much less expensive than setting up an office or department that specifically addresses the specific situation
Disadvantages
- You need to be able to convey in a very thorough way the business knowledge of the company so that the consultant understands the problem well and can start looking for the optimal solution.
- You need to carry out a study to decide which expert consultant you will work with based on similar success stories or testimonials from other clients.
So which option should I choose?
It is better to create an internal Data Science team if:
- You are a large company with sufficient financial resources to maintain a new department that will not yield ROI in the short term.
- You have enough time for the planning and management of a new area, and for the transfer of business knowledge about the sector and the company.
- You foresee that the workload of this department will multiply in the future and therefore it makes sense to have an internal team.
It is best to engage the services of an expert consultancy if you:
- You need tools or solutions to specific problems.
- You want to achieve reliable results and business value in the short to medium term.
- You do not have sufficient resources to create, train and maintain a Data Science team.
- You need to support your current Data Science or technological innovation team for a specific project.
Have we helped you? Do you have any other questions?
At numens we advise you without obligation on the best option that suits your business at all times. Do not hesitate to contact us.
