Executive Development Blog

Wanted: Those Who Understand Big Data

Posted by UNC Executive Development on Jul 21, 2016 11:47:39 AM

The demand for big data talent is growing rapidly. Many organizations are planning to increase their staff in big data and analytics in the upcoming year and estimated that big data staffing would increase significantly in the next few years.

 HelpWanted.jpgA recent McKinsey study supports these findings. The authors predict that there will be a severe shortage of those who can analyze and interpret big data, predicting that by 2018, the United States could face a shortage of up to 190,000 workers with deep analytical skills and 1.5 million managers and analysts with the ability to use the big data analytics to make effective decisions. (Manyika et al, 2011.) This includes the ability to integrate findings from big data with knowledge derived from other techniques which offer different strengths and biases, such as focus groups and targeted surveys.

The increasing demand for big data analysts who can crunch and communicate the numbers and the lack of managers and business leaders who can interpret the data means there is a growing talent shortage in the field. A survey conducted by The Big Data London group (in Raywood, 2012) found that 78 percent of respondents said there was a big data talent shortage, and 70 percent believed there was a knowledge gap between big data workers and those commissioning the projects (e.g., managers and CIOs). Another survey by NewVantage Partners (2012) found that 60 percent of respondents reported finding it very difficult to find and hire big data professionals, and 50 percent of respondents said it was very difficult to find and hire business leaders and managers who could identify and optimize business applications in big data.

This impending talent shortage will create a significant challenge for HR and talent management professionals responsible for recruiting, developing, and retaining a critical skill set that will soon be in high-demand. To help their organizations realize the full potential of big data, HR and talent management professionals must understand the fundamentals of big data, why it matters, and what skills their organizations will need to analyze and interpret the large amounts of data they collect.

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Topics: leadership, talent management, talent development, data

The Big Data Talent Gap

Posted by Chad Vamos on Aug 14, 2014 1:03:21 PM

Check out the summary of a white paper by Stan Ahalt and Kip Kelly:

Big data—the massive amounts of information companies collect through web crawlers, social media feeds, server logs, customer service databases, and other sources—is quickly becoming big business in today’s competitive marketplace, and if business leaders haven’t added big data to their strategic agendas yet, they will be compelled to in the near future. Few organizations, however, have the talent with the expertise needed to collect, organize, and analyze the data and to provide meaningful insights. Even fewer organizations have business leaders with the knowledge and experience needed to create value from big data.  HR and talent management professionals should understand how big data will affect their organizations and should be thinking about how best to build big data talent in their organizations.

Big data is transforming every industry as companies realize the opportunities they have to leverage big data analytics in marketing, sales, and operations. Google, for example, uses big data analytics to identify flu outbreaks in the United States in real time—a feat that takes the Centers for Disease Control and Prevention (CDC) about two weeks to do because it relies on slower reporting mechanisms. Google can identify the outbreaks faster because it receives more than three billion search queries on a daily basis and saves them all. Through big data analytics, Google was able to identify 45 search terms that, when used in a mathematical model, showed a strong correlation between their predictions and the CDC’s figures.

Data

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Topics: talent management, high-potential talent, data