Big Data Analytics—arguably the hottest skills dominating contemporary job markets, serves to be the right career choice for many. Here are 10 more reasons that provide a peep into the big picture.
Analytics Professionals are in High Demand
With more and more opportunities coming to the fore with regards to Big Data Analytics and management, IT professionals are prepping themselves to invest more time and money in their training for the same. As per Jeanne Harris, linked with Accenture Institute for High Performance, “…data is useless without the skill to analyze it.” Most job trend graphs are indicating a growing need for Big Data Analytics, thereby resulting in a spate of job opportunities in this field.
With organizations looking for more lucrative ways of exploiting the potential of Big Data, technology professionals with expertise and experience in Analytics are obviously in high demand. “In the next few years, the size of the analytics market will evolve to at least one-thirds of the global IT market from the current one-tenths,” comments Srikanth Velamakanni, CEO and cofounder of CA headquartered Fractal Analytics, Bangalore.
Top Priority in Global Organizations
The ‘Peer Research – Big Data Analytics’ survey has established that Big Data Analytics continues to rank high on the priority list of organizations looking for robust and long term improvements in their operational processes and overall performance levels.
The survey also made known that Big Data Analytics were capable of bringing forth many beneficial business insights, and were useful for recognizing varied sales/market opportunities. In addition, organizations were also depending on Big Data Analytics for boosting their social media marketing strategies and abilities. Basically, Analytics serves to be the need of the hour, with companies across many industry verticals considering the same as their top priority.
Existence of a Skill Gap
Even though there’s a continuous growing demand for Analytics skills, there exists a huge deficit as far as the supply side is concerned. Globally, in spite of Big Data Analytics being a ‘hot’ category, there are plenty of unfilled jobs because of the shortage of required skills. As per the results of a study conducted by McKinsey Global Institute, by the turn of 2018, US itself will face a huge shortage of more than 1.5 million managers / analysts and 190,000 data scientists. It’s true that the scarcity of skilled data analytics talent is quite acute and with more organizations looking towards outsourcing their work to nations like India, the demand for them will keep increasing.
Salary Expectations and Aspects
The existence of a consistent demand for Data Analytics talent is adding more to the wages of qualified Big Data professionals. Now, organizations are ready to pay large sums for acquiring the right personnel. There is a positive and exponential escalation in salary trends for professionals in the field of Big Data Analytics. As per Randstad, the annual pay hikes for Big Data Analytics professionals located in Asia is higher than that of other IT professionals, sometimes, to the extent of 50 percent. This demand also reflects in the growing membership of IAPA in Australia—yes, the institution has added over 3,500 members since its inception in 2006.
Growing Demand for the Adoption and Integration of Big Data Analytics
When it comes to performing increasingly sophisticated and complex data analytics on diverse and very large datasets, new technologies linked to advanced analytics for Big Data, data mining, Predictive Analytics, and Business Intelligence are making organizations attain optimum levels of performance. Moreover, with Big Data Analytics radically providing that much needed edge over all competition, there is an exponential growth in the rate of integration of contemporary Analytics tools. Here, it deserves mention that most companies around the world are already dealing with strategies relating to Big Data Analytics; with others joining in the fray at commendable speed.
The Apache Hadoop framework is obviously a popular choice for those looking for the best Big Data Analytics tools. Additionally, there are many other open-source and commercial frameworks to select from, thereby making organizations frame their Analytics policies in line with immediate and future requirements.
The Key Role of Big Data Analytics in Decision Making
Analytics, a primary competitive resource for most organizations, is all set to take center stage in the future too. The reason behind this is that in spite of all the data that’s being used, there is zillion times more that remains unitized at this point. Today, it’s only the rudimentary analytics that are being conceptualized and done by companies. Enabling superior decision-making capabilities and key strategic initiatives, Analytics undeniably stands out against all other alternatives in the competition. Overall, it succeeds in adding greater value and brings in vital information for helping businesses take effective and timely business decisions. All in all, Big Data Analytics is definitely here to stay, and as a viable career option.
Big Data Analytics—Oh! It’s everywhere!
The lucrative features of Big Data Analytics have led to a massive demand for people with the ability to use it. This tremendous growth can also be attributed to the varied domains in which these Analytics are capable of being utilized. The job opportunities existing in different domains in 2015 are to the tune of:
Unstructured/ Semi-structured Data Analytics
There is BIG growth in the field of unstructured/ semi-structured data analytics too. Currently, more organizations are processing and analyzing such data sources. This data includes social media, e-mail, weblogs, photos, and video. Those organizations that are still waiting in the wings are planning to implement the same in the next few months. The chart given below depicts how respondent companies have been analyzing unstructured/ semi-structured data for their benefit.
Types and Job Titles in Analytics
Both in terms of the nature of job and domain, there are plenty of options available in the career graphs related to Analytics and its varied fields. These are:
Big Data Analytics Architect
Big Data Analytics Business Consultant
Big Data Engineer
Big Data Solution Architect
Business Metrics and Analytics Specialist
Intelligence and Analytics Consultant
Big Data Analyst, and so forth
Aspirants may opt for one of the under mentioned three kinds of data analytics, in line with the Big Data environment existing in the organizations of their choice. These are:
From Ayata and IBM to highly acclaimed organizations of the likes of FICO, Domo, Quid, TIBCO, Microsoft, Alteryx, Teradata, Platfora, ITrend, Saffron, Jaspersoft, Karmasphere, Oracle, Bluefin Labs, Tracx, and countless others, Big Data Analytics is creating huge job opportunities and is being utilized for addressing most business needs.
2015 Big Data Analytics Market Forecast / Predictions
Big Data Analytics occupies a coveted position on the list of most disruptive technologies that have been influencing various industry verticals in the last couple of years. The other market forecasts supporting its unprecedented rise are:
As per IDC, the market for Big Data Analytics market is expected to notch $125 billion, globally, by the end of 2015.
According to a study conducted by IIA, Big Data Analytics tools are all set to occupy the first line of defense; wherein they are expected to combine text mining, machine learning, and ontology modeling for providing integrated and holistic security threat detection, prediction, prevention and deterrence programs.
‘The Future of Big Data Analytics – Global Market and Technologies Forecast – 2015-2020’, (a survey) has proved that the bustling Big Data Analytics Global Market is all set to expand by 14.4% CAGR in the given period.
Regardless of how advanced Analytics are, they are incapable of removing the requirements for human insights. But then, there exists a compelling urgency for skilled people who have the abilities of understanding data, thinking from the point of view of business, and coming up with deeper insights. This is why, with more and more organizations looking towards harnessing the powers of Big Data technology, professionals, especially those who are geared with Analytics skills, are in high demand. This said; such professionals may look forward to boosting their career and becoming valuable assets for their organizations.
All the best!