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A significant global talent shortage is looming as companies seek to leverage Big Data for competitive advantage but struggle to find people with the right skills and competencies in this relatively uncharted territory, according to talent management and recruitment company, Hudson.
According to IT research and advisory firm Gartner, Big Data is high-volume, high-velocity, and high-variety information assets that demand cost-effective, innovative forms of information processing for enhanced insight and decision making.
In its latest report, Tackling the Big Data Challenge, Hudson Global found that 78% of Australian respondents think their organisation lacks the skills and competencies to successfully undertake a Big Data initiative.
Mark Steyn, CEO of Hudson Asia-Pacific, commented that companies struggle to identify and recruit the right people, who will effectively manage, manipulate and most importantly, exploit these fast-growing data reserves.
“Much has been written about Big Data and organisations know there is great value to be leveraged from the volume, variety and velocity of modern data sources. However, few are tackling the challenge of how to best resource the Big Data opportunity,” he said.
He referenced a study by Gartner, which predicts that by 2015, 4.4 million IT jobs globally will be created to support Big Data, but only a third of these jobs will be filled, making data experts a scarce and valuable commodity.
Mark added: “People who can blend deep technical expertise, business and analytical skills, an understanding of the market and the customer represent nirvana in terms of Big Data talent. Unfortunately, these individuals are in short supply.”
One of the most difficult to find talents in the current environment is the big data analyst.
He added that this indicates that a skills crisis of vast proportions and is forcing organisations to look outside the usual supply network for talent.
“Each organisation is at a different stage of leveraging Big Data and it is essential to find the right talent to unlock value from the data tsunami and turn it into actionable insights which deliver business value,” he added.