Over the last couple of decades, big data has really lived up to its name, slowly taking over each and every sector. Information has truly become currency, and those who choose a career path interpreting, managing and forecasting using big data are more in demand than ever. Improving business strategy, guiding crucial decisions and gaining the edge over the competition means no company can now afford to be without their data department, making it one of the best and potentially most profitable career choices to make.
A Soaring Demand
From utilities providers to high-end fashion, every single company now collects more customer data than ever. And analytics professionals are key, as the data collected is worthless unless a company has the skills to interpret it and spot trends and opportunities. This correlates to a steady increase in the number of roles available for someone with the right skill set, and higher salaries as it’s harder to find the right people. It has been estimated that Data Analytics roles currently make up around one tenth of the global Information Technology jobs market, and this is expected to rise to a one third over the next few years.
The Skills Gap Challenge
Although demand is steadily rising, there is a huge deficit in the number of workers who can fill Data Analytics roles. A recent study by the McKinsey Global Institute states that the US alone is facing a shortage of 190,000 data scientists and around 1.5 million managers skilled in analytics – and the picture is the same all over the globe.
Commanding Top Dollar
As you would imagine with such a shortage, wages are on the increase, which makes data a profitable career path as well. In the UK, the median yearly salary for a data analyst has risen by 13.63 per cent over the last three years. Even counting the cost of any retraining, such as buying specialist database Alteryx Training London moving into a career in data could make good economic sense, especially for people currently working in related fields such as customer service or IT support.
The Cutting Edge
Getting involved with big data means entering an industry which is fairly young, and rapidly evolving. New technologies are coming into play all the time and are making performing increasingly sophisticated data analytics on large, diverse sets of data the norm. New sub-fields such as business intelligence, data mining and predictive analysis mean that there are new areas of interest arising on a regular basis. There is a real opportunity to shape and influence the direction a business takes. As a key competitive resource in a multitude of businesses, the data train shows no signs of slowing, and new developments cropping up all the time makes for an exciting and diverse career. Traditional data sources are now beginning to be supplemented with what is known as ‘semistructured analytics’ – performed on sources such as blogs, email, social media posts and video content. Your future could be really bright if you stick to data!
Does a career in data interest you? Let us know why in the comments below.
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