What Is Happening With Women Entrepreneurs? [Infographics]


On this International Women’s Day, it might be a wise idea to learn how women is shaping the entrepreneurial landscape. Not only is the impact impressive, growing but it is also building sustained growth. In some aspects, the impact is equal or better than the male counterparts.

Women entrepreneurs has been on the rise for sometime, more specifically, we’ve grown twice as fast as men between 1997 and 2007, at the pace of 44% growth in women-owned businesses. if it is not a cool stats, not sure what else is?

There are a Dozen interesting factoids about how women is shaping business landscape:

  1. In 2005, there were 7 CEO’s in Fortune 500. As of May 2011, there were 12 CEO’s in Fortune 500 companies, not many but growing.
  2. Approximately 32% of women business owners believe that being a woman in a male-dominated industry is beneficial.
  3. The number of women-owned companies with 100 or more employees has increased at nearlytwice the growth rate of all other companies.
  4. The vast majority (83%) of women business owners are personally involved in selecting and purchasing technology for their businesses.
  5. The workforces of women-owned firms show more gender equality. Women business owners overallemploy a roughly balanced workforce (52% women, 48% men), while men business owners employ 38% women and 62% men, on average.
  6. 3% of all women-owned firms have revenues of $1 million or more compared with 6% of men-owned firms.
  7. Women business owners are nearly twice as likely as men business owners to intend to pass the business on to a daughter or daughters (37% vs. 19%).
  8. Between 1997 and 2002, women-owned firms increased their employment by 70,000, whereas firms owned by men lost 1 million employees.
  9. One in five firms with revenue of $1 million or more is woman-owned.
  10. Women owners of firms with $1 million or more in revenue are more likely to belong to formal business organizations, associations or networks than other women business owners (81% vs. 61%).
  11. Women-owned firms in the U.S. are more likely than all firms to offer flex-time, tuition reimbursement and, at a smaller size, profit sharing to their workers.
  12. 86% of women entrepreneurs say they use the same products and services at home that they do in their business, for familiarity and convenience.

Road is well traveled and boy we have covered a distance. Let us embrace and keep breaking the glass ceiling. At the end, Happy International Women’s Day you all!

Infographic: Women in Business
Courtesy of: CreditDonkey

Source: What Is Happening With Women Entrepreneurs? [Infographics]

7 Characteristics to Look Before Hiring a Data Scientist


Data is being collected in droves, but most of the time, people don’t know what to do with it. That’s why data scientists are hot commodities in the startup world right now. In fact, between 2003 and 2013, employment in data industries grew about 21 percent — nearly 16 percent more than overall employment growth. It’s a fairly new concept, but these people are so valuable because they understand the significance of data for your business and how you can use it.

Using analytics, firms can discover patterns and stories in data, build the infrastructure needed to properly collect and store it, inform business decisions and guide strategy. Access to sufficient and robust data is vital to sustained startup growth.

Companies need to incorporate data science into their business models as early as possible while they’re taking risks and making crucial decisions about the future. But how do you know whether your company is ready to go the extra mile and hire a data scientist?

First, you need to make sure you can afford to hire one. On average, a single data scientist costs a company $100,000 annually. A team of data engineers, machine learning experts and modelers can cost millions.

Smaller companies may need to create software solutions and invest time in building revenue to ensure they can actually utilize a data scientist’s skills. Tools such as Tableau, Qlik and Google Charts can help you plot and visualize the results of your data collection, connect this information to dashboards and quickly glean actionable insights.

Once your business is ready to make a larger investment to gain a competitive edge, there are several key traits to seek out in potential candidates. The best data scientists are:

1. Skilled.
All the data in the world won’t illuminate much if the scientist analyzing it doesn’t possess practical IT skills, experience with the tools mentioned above and a thorough understanding of basic security practices. A solid background in mathematics and statistics is also an indispensable trait; this demonstrates an intellectual rigor and the ability to confidently synthesize and massage many types of data sets.

2. Aware.
Armed with a thorough understanding of the pressures inherent to certain industries, skilled data scientists can effectively enlighten the decision-making process. To this end, interview recruits about how they view the competitive climate at the moment.

3. Proven.
A good way to guarantee you hire the best data scientist for your needs is to ask each contender to develop a sample presentation based on a specific set of data you provide. Then, pursue the candidates who convey real vision, robust understanding and deep insight.

Related: 4 Things a Data Scientist Can Do for Entrepreneurs

4. Entrepreneurial.
Data scientists energize enterprise through discovery. Natural curiosity and enthusiasm for solving big problems coupled with an ability to transform data into a product may place one candidate above the rest.

5. Agile.
Just as successful startup teams depend on across-the-board versatility, data scientists must be agile enough to quickly modify their methods to suit changes within a particular industry.

6. Intuitive.
You want this person to beat you to the punch when it comes to anticipating questions that data could answer. Look for someone who has a keen sense for future data applications.

7. Strong communication.
Insight that can’t be expressed is worthless. Good data scientists are able to uncover data patterns and are willing to explain those patterns in clear and helpful ways through thoughtful and open communication. They should know how to present visualizations of data and tell a story through numbers.

The perfect complement to a scaling, booming startup is a data scientist with a killer skill set. By sharing the burden and excitement of making crucial business decisions, this single hire can take your startup from data zero to data hero in no time.

Note: This article originally appeared in Entrepreneur. Click for link here.

Source by analyticsweekpick