Big Data is the next big thing in technology, but where are the people who know how to make the most of it?
Big Data refers to the idea that an enterprise can mine all the data it collects right across its operations to unlock golden nuggets of business intelligence. And whereas companies in the past have had to rely on sampling, Big Data, or so the promise goes, means you can use your entire corpus of digitized corporate knowledge. It is, by all accounts, the next big thing.
However, according to a report published last year by McKinsey, there is a problem. “A significant constraint on realizing value from Big Data will be a shortage of talent, particularly of people with deep expertise in statistics and machine learning, and the managers and analysts who know how to operate companies by using insights from Big Data,” the report said. “We project a need for 1.5 million additional managers and analysts in the United States who can ask the right questions and consume the results of the analysis of Big Data effectively.” What the industry needs is a new type of person: the data scientist.
(Full article, published by WSJ.com available here)