The Big Data phenomenon has led to an increasing demand for data scientists – professionals conversant with both the business context and data analytics involving both statistics and machine learning – who play a crucial role in extracting insights from large data sets, analyzing these and then presenting the value-added information to business users or non-data experts. There is a worldwide shortage of such people, which presents a significant challenge that companies need to address for successful Big Data implementation. According to McKinsey, the US alone faces a shortage of 140,000-190,000 analysts and 1.5 million managers who can analyze Big Data.
To address the shortage, companies have embarked on initiatives to train their existing employees and develop new talent. Companies are partnering with universities to offer courses on various elements of Big Data. Internally, enterprises are creating organizational cultures that are favorable for data-driven decisions by hiring employees from academic fields such as statistics, and mathematics, as well as through on-the-job training on emerging technologies in the Big Data space. Industry bodies such as NASSCOM SSC are creating course curriculum and formalizing job roles and skill requirements for big data and analytics.
But is that enough? Or more needs to be done? Share your ideas on creating analytics talent pool in India.