Cookies help us display personalized product recommendations and ensure you have great shopping experience.

By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    big data analytics in transporation
    Turning Data Into Decisions: How Analytics Improves Transportation Strategy
    3 Min Read
    sales and data analytics
    How Data Analytics Improves Lead Management and Sales Results
    9 Min Read
    data analytics and truck accident claims
    How Data Analytics Reduces Truck Accidents and Speeds Up Claims
    7 Min Read
    predictive analytics for interior designers
    Interior Designers Boost Profits with Predictive Analytics
    8 Min Read
    image fx (67)
    Improving LinkedIn Ad Strategies with Data Analytics
    9 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-25 SmartData Collective. All Rights Reserved.
Reading: Prepare for the Big-Data Labor Shortfall
Share
Notification
Font ResizerAa
SmartData CollectiveSmartData Collective
Font ResizerAa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Commentary > Prepare for the Big-Data Labor Shortfall
CommentaryJobsNews

Prepare for the Big-Data Labor Shortfall

RickSherman
RickSherman
4 Min Read
SHARE

Helpwanted_smallerWhere are all the big-data people? A recent front-page article in the Boston Globe raised this very issue.

Helpwanted_smallerWhere are all the big-data people? A recent front-page article in the Boston Globe raised this very issue.

The article, “Mass. firms see riches, jobs in charting oceans of data”, discussed reports on Big Data by the Mass Technology Leadership Council (MTLC) and McKinsey Global Institute regarding the role Massachusetts plays as a hot bed for both Big Data software firms and the people with the skills to level Big Data in their businesses. 

More Read

Outsourcing Analytics vs. DIY: Tips for Executives
Expert Speak: 6 Highlights and Lessons from the 2015 CDO Summit
Unstructured Data: A Contrarian’s View
Be Wary of the Science of Hiring
3 Big Data And Automation Resolutions For Entrepreneurs In 2019

Big Data’s promised business benefits range from capturing more of a consumer’s wallet to discovering the cure for cancer.  Software firms certainly see the potential of Big Data. They’re investing in better ways to capture, integrate, manage and analyze Big Data. Both established high tech firms and venture capitalists are making significant investments in it.

The Big-Data Skills Gap

The gap we are going encounter in this industry is the shortage of both the skilled people to develop the Big Data analytics models, often referred to as data scientists, and the data-savvy business people to take advantage of them in their business. The McKinsey report states “By 2018, the United States alone could face a shortage of 140,000 to 190,000 people with deep analytical skills as well as 1.5 million managers and analysts with the know-how to use the analysis of big data to make effective decisions.”

Our industry has faced a shortage of skilled people in business intelligence, analytics and data integration that has kept business from effectively using the data they already have. With the onslaught of Big Data and the advanced skills it requires, we’re destined to fall even further behind.

Data Scientist Definition

If we are ever to fill that gap we need to broaden our definition of what a data scientist is. This title and the job descriptions that are posted for these jobs are too concentrated on programming and IT skills. In order to create Big Data analytical and predictive models the person does need to have programming skills, but more importantly, that person needs to understand statistical modeling. To develop the model, the person also needs to understand their business and industry. It also helps if they understand how to apply customer behavior and economic models. 

Although Big Data means “a lot of data,” the reality is, in many cases, that data is incomplete and inconsistent.  Developing analytical models means dealing with dirty data and gaps.  Many “numbers” people have trouble dealing with these conditions.

Data scientists need to have expertise in statistics, economics and business besides the basic programming skills. Although the ranks of the software engineers and IT is an excellent place to start, our industry needs to broaden its appeal and reach to people with a mathematics, actuarial, statistical, economics or business backgrounds if the data scientist gap is ever to be filled.

McKinsey mentions the shortage of the data-savvy business managers who will be the users of the Bid Data analytical models developed by the data scientists. Fortunately, many business schools have started offering analytical curriculum at both the undergraduate and graduate level. For business people with deep business expertise, it is time to brush up on statistics.

   

TAGGED:big data
Share This Article
Facebook Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

big data analytics in transporation
Turning Data Into Decisions: How Analytics Improves Transportation Strategy
Analytics Big Data Exclusive
AI and fund manager software
AI And The Acceleration Of Information Flows From Fund Managers To Investors
Artificial Intelligence Exclusive
sales and data analytics
How Data Analytics Improves Lead Management and Sales Results
Analytics Big Data Exclusive
ai in marketing
How AI and Smart Platforms Improve Email Marketing
Artificial Intelligence Exclusive Marketing

Stay Connected

1.2kFollowersLike
33.7kFollowersFollow
222FollowersPin

You Might also Like

ways affiliate marketers can use big data
Big DataExclusive

3 Ways Affiliate Marketers Can Use Big Data To Adapt To Competition

6 Min Read
data analytics guide
Analytics

Importance Of Using Data Analytics To Optimize Lead Pipelines

5 Min Read
data access for engineers
Big Data

How The Explosive Growth Of Data Access Affects Your Engineer’s Team Efficiency

11 Min Read

Analytics and Big Data – Press pause on the Stairmaster

6 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

ai in ecommerce
Artificial Intelligence for eCommerce: A Closer Look
Artificial Intelligence
data-driven web design
5 Great Tips for Using Data Analytics for Website UX
Big Data

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-25 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?