Data science strategies leading to the development of data scientists’ skills in organizations

Abstract

The purpose of this paper is to compare the strategies of companies with data science practices and methodologies and the data specificities/variables that can influence the definition of a data science strategy in pharma companies. The current paper is an empirical study, and the research approach consists of verifying against a set of statistical tests the differences between companies with a data science strategy and companies without a data science strategy. We have designed a specific questionnaire and applied it to a sample of 280 pharma companies. The main findings are based on the analysis of these variables: overwhelming volume, managing unstructured data, data quality, availability of data, access rights to data, data ownership issues, cost of data, lack of pre-processing facilities, lack of technology, shortage of talent/skills, privacy concerns and regulatory risks, security, and difficulties of data portability regarding companies with a data science strategy and companies without a data science strategy. The paper offers an in-depth comparative analysis between companies with or without a data science strategy, and the key limitation is regarding the literature review as a consequence of the novelty of the theme; there is a lack of scientific studies regarding this specific aspect of data science. In terms of the practical business implications, an organization with a data science strategy will have better direction and management practices as the decision-making process is based on accurate and valuable data, but it needs data scientists skills to fulfil those goals.