Businesses have always sought to mine actionable insights from data, but since the introduction of Big Data and advanced analytics, data has become the basis of competition. Almost all industries today are utilizing advanced technologies to derive information from data and use it to make smarter, better, fact-based decisions in a real-time manner.
Although the adoption of Big Data and analytics promises unparalleled advantages to businesses of all sizes, it’s a disruptive change and in order to adapt to it, businesses must invest in new technologies, as well as skills of their workforce.
To compete and win in today’s crowded marketplace, businesses are looking to recruit workers who are proficient in analytics and can combine their technical skills with an understanding of business strategy. However, as the battle for analytics’ talent grows fiercer, capturing such candidates becomes more complex and difficult for businesses.
It is reported that the United States will face a talent gap of 140,000 to 190,000 professionals with expertise in statistics, quantitative analysis, and informational modeling techniques by 2018. On the other hand, various industries, such as banking, pharmaceuticals, oil and gas, and insurance will add approximately 117,600 analytics jobs across the globe.
To address this multi-sector talent shortage, businesses need to develop a robust strategy that not only focuses on recruiting and retaining skilled professionals, but also optimizing and amplifying talent that is valuable yet short in supply through enterprise-wide training and development programs.
Another factor that has kept businesses from realizing the true potential of Big Data and analytics is the lack of a structured enterprise data management function. While many businesses already have some sort of data stewardship role, such as chief data officer or manager Big Data and analytics, most are single-mindedly focused on developing methodologies and policies rather than improving data flow and utilization. To overcome the challenge, businesses must develop a structured enterprise data management function that can bridge the gap between the IT function of the company and its board of directors.
At Allen Austin, we understand that Big Data and analytics offers unparalleled benefits to companies operating across a wide spectrum of industries, ranging from healthcare and educational institutions to retail, finance and banking, and IT. However, in order to reap the benefits, businesses must recruit the right people in various roles, such as chief data officers, chief information officers, manager data and analytics, etc.
Allen Austin adopts a methodical approach towards executive search and leadership development, helping its clients recruit the right people in these mission-critical roles. We use our deep industry insight and extensive executive search experience to help our clients leverage the unmapped talent pool and hire the most sought-after leaders for their organization.