The Talent Gap continues to widen in Analytics Jobs as companies try to gain an edge. Let’s first face some root level truths about any job market – the greatest career opportunities will always follow the most leverageable assets in any business. And in recent decades nothing as been more leverageable than technology. But in the early phases of the technology era that revolved mostly around software systems which paved efficiency for businesses to scale and compete.
And while that still remains true, technology has evolved in permanent ways. Software systems have merely become just a standard utility these days. But it's how we leverage that utility which defines business success or failure; or mediocrity or greatness. So where's the leverage on the leverage? Optics.
Software systems create data as effortless as we exhale air when we breathe. This gave birth to our curiosity about how to make sense of it all. Data analytics it’s in very infancy was (at best) an interesting concept which only helped us gain some basic insight into our business. The early notion of ‘taking interest’ quickly segued into ‘fundamentally required’ as the newly acquired optics we gained from data analytics became the single most valuable tool we have to make business decisions. Even a micro sized single decision is based upon our very perception of truth. We make hundreds of decisions each day, both at the basic human level and at the business level. We decide our direction based upon past experience, and facts derived from data in the past and even sometimes habit.
And while that's still very important to making good (vs poor) decisions about our lives and business, the root of data driven decision making is inherently based on the past - both past experiences and past facts (or the habitually unconscious). But the logical mind innately will always be looking in the rear-view mirror, right? And looking backwards is far from efficient in gaining the competitive edge needed for a business to thrive nor does looking backwards give us the edge needed in the race to cure disease. Rather we need to know the future. Think about that for a minute, but don’t we create our future? Yes, perhaps we do; but how do we create it? We decide and take action.
But the flaw is we decide based on what we think we know.
Predictive Analytics – using past data sets to predict future trends. This is the single greatest evolutionary form of technology in business (and your career). Nothing is more powerful than the ability to gain optics into the future.
1. Traditional business intelligence (BI) evolves towards Predictive Analytics.
2. Training intensifies; and the requirements needed to leverage human talent digs deeper.
3. Big data and analytics professionals worldwide take on more leadership roles in business; which stretches their resources into management of human capital, leadership of training programs and the development of customers relationships.
4. Employers and businesses turn to outsourcing in an effort to control cost; which further widens the talent gap but doesn't lessen the need.
5. Universities respond to the talent gap by providing programs in the education of data science, statistics and analytics.
What do I do for my career right now? If you aren't already enrolled in an education program, do so very soon. The future of the world economy lies in the hands of our upcoming graduates. If you’re already employed in the generalized technology field, start gaining an increased level of interest in the data analytics jobs market. If you're already in the big data field, then begin your own personal forward looking optics (rather than the past) into where leverage is greatest within your company.
The art of predictive analytics is based upon the prediction of the future trends. If done skillfully, it’s impact on business is beyond comprehension. And it's effect on the job market? - exponentially staggering. Buckle up and stay buckled, this is just the dawn.