Data Science — the analysis of data to uncover patterns that provide business insights, such as customer preferences or market trends — can help organizations and firms raise productivity, improve decision making, and gain competitive advantage.
DC’s proximity to policy influencers, strong technology sector, and access to top talent, make it a leading city for data science and analytics. Data analytics companies in DC are already helping top companies, institutions, healthcare giants, government entities and firms raise productivity, improve decision making, and gain competitive advantage.
Demand for data analytics is expected to increase by over 50% to $203 billion by 2020, and DC is a natural hot spot for the industry. With a high concentration of healthcare, education and government entities, the District’s landscape provides ample opportunity for disruption. This sector includes companies working in various areas: Business analytics hardware, software and services; Data visualization or presentation services; Electronic health records analysis and other healthcare applications; Financial predictive analytics and other financial sector and insurance applications; Big data management and policy
34% of VC Deals Went to Data Companies
Of the 209 DC-area venture capital deals in 2016 went to data analytics companies, up from 29% in 2015.
Source: American Inno
DC Has 10+ Active Data Science Meet-Ups
Washington, DC has over 10 active data science Meet-ups with a combined membership of over 35,000.
#3 Tech City in the US
Cushman and Wakefield found DC to be the #3 tech city in the United States, following San Francisco and San Jose as part of their 2017 Tech 1.0 study.
Why Data Science and Analytics Companies Choose DC
Access to the US’s Most Educated Workforce
With access to plenty of seasoned data professionals — many with experience handling large and con dential datasets — DC companies are leading the way in data science and analytics innovations. Complemented by deep policy expertise, the highest concentration of lawyers per capita in the U.S., and a thriving tech industry, the DC workforce has the skills data companies need.
Large Customer Base
DC is home to many institutions and companies that are hungry for data analytics and business intelligence, including the federal government, hospitals, and Fortune 500 companies – such as Amazon Web Services and Capital One – and national nonprofits.
Concentration of Interested Investors
Investors are watching this industry closely, and DC data analytics companies are faring well securing investment. Of the 209 DC-area venture capital deals in 2016, 34% of them went to data analytics companies, up from 29% in 2015 (American Inno).
Proximity to Policy and Regulatory Agencies
Regulation has played a major role in shaping this industry, creating requirements that spur new data streams (such as electronic health records) as well as regulations that govern data management. Being in DC makes interacting with the agencies driving these decisions feasible.
Culture of Data Science Entrepreneurship
Data Science Innovation
Leaders in data science are already innovating in DC. From Booz Allen Hamilton’s National Data Science Bowl, which uses data to solve problems in heart disease and ocean conservation, to numerous networking groups like Data Community DC, the District is already home to experts transforming the eld.
Resources for Data Analytics Companies:
- DC Biz Cap programs
- Work Opportunity Tax Credit, On the Job Training and Apprenticeship Programs
- Qualified High Technology Company tax incentives
- Open and Creative Spaces Modernization
- Visit incentives.dc.gov for a searchable database of DC business incentives
Learn more about the Data Science and Analytics Industry in DC in the 2017 DC Economic Strategy Report.
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WDCEP leads the #WeDC campaign, the most successful digital campaign at SXSW for two years running.
WDCEP runs DC’s presence at ICSC RECon, retail’s leading conference which brings together 30,000+ leaders in the industry.
WDCEP regularly convenes public and private DC business leaders across sectors.
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