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Globally, businesses invest billions behind a game-changing force – data science. From unlocking predictive insights to automating decision-making, data strategy services can assist companies in gaining a competitive edge. However, the reality is quite different. Gartner has suggested that 85 percent of big data projects fail, and VentureBeat has revealed that 87 percent of data science projects never get materialized. 

This blog finds the answer to the question: why do big data science and analytics projects fail? We will also see the role of a data science service provider in addressing the challenges of these projects. Let’s begin. 

Six Common Pitfalls Lead to Data Science Project Failures

Technical hurdles and model performance issues are some of the key reasons for project failures. However, some common traps related to planning and data quality can collapse the data science projects even before beginning.

• Solving the Wrong Problem

This is a common mistake. Usually, organizations initiate such projects with a vague understanding of the desired outcome. Even the technical team works on it without understanding the underlying business objective or value proposition properly. In such a scenario, project leaders need to define the business goal before finding technical objectives. A clear and quantifiable business goal can take the data science project to success. 

• Neglecting Data Strategy

A data science project cannot operate in isolation. Many enterprises consider data science as a side project or an experimental task rather than an integral component of their business models. This may result in irrelevance and failures of the project. Therefore, companies must focus on data strategy services for effective data execution. They can either consult a data strategy services provider or hire data analytics experts to make meaningful models. 

When organizations assign this task to a reputable data strategy services provider or hire data engineers, they can ensure that projects remain in line with the company’s goals. They can also establish governance protocols based on high-value use cases. 

• Applying the Wrong Process

Data science is not another software development project. It is an active and ongoing process that largely depends on both discovery and experimentation. However, issues related to planning, including a mismatch of scope and a lack of cyclical methodologies, can create hurdles in implementation. Data science projects have no relatively fixed requirements; therefore, they need cyclical methodologies like CRISP-DM. 

Moreover, these project plans should be capable of accommodating inherent uncertainty. Companies must spend significant time on data preparation rather than rushing straight into making data models. This is the right process to leverage the benefits of data science projects. 

• Overlooking Culture and Change Management

This is another highly common failure point. Cultural challenges are a bigger barrier than technological ones for realizing desired outcomes for modern businesses. Even if companies have brilliant and robust models, people are unwilling or unable to adopt them, so such models are useless. It is quite common that teams fail to involve end-users and stakeholders at the early stage. But this needs a change. 

For example, what if the sales team has no idea how to use the new lead-scoring algorithm? Therefore, data strategy services should offer proper change management. Moreover, the lack of right data or insufficient volume of data cannot build a reliable model. Some companies face the challenges due to the lack of data lineage and maturity. Execution gaps, bias in data, and privacy issues can lead your data science project to failure. 

You can hire data engineers from a reliable firm to get rid of these challenges. 

• Not Having the Right Talent

Let’s face it. When you hire a data engineer, they may not perform a wide range of roles to execute a full data science product. Modern data science projects need a multidisciplinary team with the right mix of talent. When it does not happen, the data scientist gets overburdened by starting to act as a database administrator, engineer, and business translator. This can make the project more complex and time-consuming. 

Therefore, it is better to hire a team that consists of data scientists, machine learning engineers, data engineers, and data analysts. Companies must hire analytics experts to bridge the gap between algorithmic complexities and the end user’s needs. 

• Underestimating Deployment Issues

Many data science projects succeed in the laboratory, but they fail in the deployment phase. This can happen due to many reasons, including technology mismatch, lack of collaboration, and performance issues. A model that runs well in five minutes on a local machine may need to run in five milliseconds in a production system. This may result in its failure. Moreover, IT operations should have proper involvement during the data science project deployment. 

All these pitfalls can cost a lot to companies in terms of money, effort, and time. Therefore, it is better to consult a data science service provider with a proven track record. 

Role of Right Data Service Provider in Handling Challenges

The right data strategy and proper execution can work wonders for your company. A top-tier data service provider acts as a strategic partner for your data science project. A reputable service provider offers excellent data strategy services to define the business value and identify the use cases with higher ROI. Furthermore, establishing governance frameworks and change management is essential for ensuring proper execution. Data service providers can handle these tasks effectively. 

Finally, companies can solve the talent gap and ensure data quality with ethical practices in their data science projects with the help of the right provider. As a good provider excels in MLOps, they can bridge the deployment gap effectively. It is, therefore, beneficial to outsource these critical and complex data science projects to a specialized service provider. 

Concluding Remarks

Data science projects face high failure rates due to several challenges. Effective data strategy services from a reliable provider can help companies leverage the benefits of these projects. Hope this concise guide to data science project challenges will help you get rid of them and choose the right strategic partner. 

DevsTree IT Services is a leading data services provider. We offer top-notch services to assist you in achieving excellence through effective data processing. Contact us to hire data engineers or analytics experts for your project.