Data Skills Gap – We Have The Right Solution for Your Organization


If recent reports are to be believed, there will be a need for an additional 346,000 data scientists in Europe by 2020. This clearly shows the skills gap in the UK in the field.  The demand for data scientists and analysts is increasing, but there is not enough talent in the market. The Annual activity report 2015 of the European Commission highlights the problem more precisely. At that time, 77% of data analyst jobs remained unfilled, and it was predicted that the problem would become worse with a 160% increase in demand by 2020.

The reason behind this yawning talent gap is clear – demand has surpassed supply and there is a lack of corporate training in data analytics.  There has been an exponential growth of data sources as well as of organizations’ hunger to utilize this data and make the most of the data collected from the disparate sources. A recent study conducted by the International Data Corporation predicts that the 'digital universe' will reach 40 zettabytes by 2020 – a 50-fold growth in the last decade. 
According to the MIT Sloan Management 2015 Review, around 40% of the companies across the world were struggling to find and retain data science talent.  And the picture looks even bleaker for the coming years.

What can be done?

In the past few years, it has been observed that business enterprises are looking for external agency support to bridge the skills gap. Clients who had earlier handled data requirements internally are now looking for outside support.  Hiring data experts from an external agency ensures you get the skills you need and at the right time. Here are some tips for business enterprises that are looking for data analysts from an external agency.

1. Culture
Hire an agency that fits well into your organizational culture. Take some time out to meet them, understand their approach and standards, and then try to evaluate how they sync with yours.

2. Testimonials
Case studies, client lists, and the website will showcase an agency’s credentials. We always recommend you check everything carefully and don’t hesitate to ask for client testimonials.

3. Try before you buy
Selecting an agency can be a difficult task.  Before you hire an agency, you should remember that this is for the long term – usually contracts are signed between the parties for at least 2-3 years. One of the best options is to test an agency on a small project and then extend the contract if the work is to your satisfaction.

Conclusion
It can’t be denied that the demand for data analysts is growing, and the skill gap is widening, which clearly indicates that finding and retaining the right talent is a challenge for data driven enterprises. External support is available and you can engage those additional resources when you need them. However, you need to ensure that you follow the proper process when evaluating a data expert from an external agency. 

Location: Bengaluru, Karnataka, India

Comments

Post a Comment

Popular posts from this blog

Learn How to Improve Employees Experience by Cross-Training

No matter what sort of business you have, your employees may become bored and stale doing the same routine tasks every single day. In order to foster an engaged workforce or set up employees for success, you may consider offering opportunities to cross-train your employees that will broaden their horizons and make them a valuable asset to the organization. Cross-training is not only helpful in improving productivity, but it also allows employees to develop new skills in a specific field that will heighten their professional development and career growth. Here are the reasons to consider cross-training employees: 1. Maintain the same productivity even when employees are absent.   There are certain things that can’t be avoided, such as family emergency or a sudden injury. But when one employee is absent for a couple of days, the other members can easily cover up for that absence if they are well-versed with that employee’s key tasks.   For short-term absences, cross-training c
Read more

How to Choose Your Corporate Training Partner

Image
The pace at which technology is evolving today can be challenging to cope up with at times even for the biggest companies. The same holds true for technology experts who are in a regular struggle to not just stand out in a hyper-competitive market but also stave off obsolescence by constantly upskilling themselves. It is where CorporateTraining in Data Analytics comes in. It’s a practical solution designed for present-day employers and employees. There are two significant advantages that corporate training in analytics unlocks: Increase in productivity Training present employees in new skills are more effective and practical than hiring new employees with those skills. The former understand the company better and thus will lead to increased productivity. Increase in loyalty One of the primary objectives of most HR departments today is to reduce employee attrition. Upskilling through training is an excellent way to do that since it shows employees that thei
Read more