Data scientists are professionals who are responsible for gathering, analysing and interpreting data. In fact, large amounts of it. Now, the question is, are data scientists replaceable? Vishal Chawla of Analytics India Magazine shared insights from a recent event attended by an SAP leader.
SAP has been leading the enterprise application industry by helping companies in operating their businesses by providing the most comprehensive cloud ERP and extensive solution portfolio. They put their focus on Intelligent Enterprise to help customers with their digital transition by bringing together operations and experiences and delivering a deep understanding of operational data.
To get a better understanding of how SAP has helped businesses with its innovations, Chawla used Alibaba as an example. Last November 11, Alibaba established a world record for making $38 billion in revenue within 24 hours for its 11/11 mega sale. Data showed that more than 500,000 transactions per second during peak time. The amount of data processed reached an incredible 900 petabytes (900,000,000,000,000,000).
Alibaba Cloud’s Chief Product Officer, Ma Jin, shared that SAP contributed significantly in identifying the numbers when they utilised the power of SAP S/4HANA Cloud and the SAP Cloud Platform.
SAP’s Global CTO and member of the executive board, Juergen Mueller, shared the company’s latest innovations at the recent SAP TechEd 2019 and noted that they are shifting their focus more on the Intelligent Enterprise Program.
Juergen Mueller shared that at present, they ran an internal engineering program called “Intelligent Enterprise Program.” At present, it is the most extensive engineering program launched by SAP. He said:
“We focus on seamless user experience, functional enhancements, intelligence, analytics and of course, functional integration.”
Additionally, Muller emphasised how important it is for businesses to find the right solutions to help them manage their operations in terms of financials, supply chain and procurement. As an answer to all these needs, SAP provides ‘modular yet integrated solutions’ with ample focus on integrating existing or creating new applications.
Juergen Mueller Shares How SAP Empowers its Analytics
The unification of all the data collected through ERP and CRM systems can be a challenge for a company. Imagine all the valuable data that could be converted into business value. With that, SAP came up with a Master Data Governance solution that will assist data scientists in consolidating all the data and centralising the government on the master data lifecycle.
The SAP Cloud Platform makes it possible for both experts and non-analytics experts to obtain value from the business data. The data collected allows customers to create dashboards that will help them understand the business better. The SAP Smart Discovery enables them to make informed decisions. These dashboards can help enterprises in predicting revenue, get a quick look at the revenue, identify how much an average customer spends, know their distribution channels, determine customer profiles, and more.
Can data scientists be replaced by automation?
SAP released Automate to help companies in dealing with abundant data. Automate works using a wizard that guides the user through the process of designing a business problem. The user can specify data sets they can use for training and testing.
While hiring more data scientists to address the need can work, Juergen Mueller shared that these positions are quite difficult to fill in on the market. He also noted how the data science team might not be able to keep it up once more questions come in, and there are more data to process. He stated how Automate in SAP Data Intelligence can serve as an alternative.
SAP Analytics Cloud, the leading end-to-end business analytics platform, has Search to Insights. It is a tool that lets users ask questions using natural language while processing all the data.
SAP said that this data model is only made possible because of HANA. Mueller shared that they are embedding SAP Analytics Cloud into S/4HANA, which can improve the processes in terms of democratising analytics. It is expected to be released in the fourth quarter of 2019 with the SAP Analytics Cloud with no extra charges.