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Talent on the (analytics) Job

Navigating the analytics talent gap in the New Year

Posted by John Lucker, Principal, Deloitte Consulting LLP

Amid estimates of a 190,000-worker shortfall for deep-tech analytics skills over the next four years, and a 1.5 million resource gap for data scientists and management-level analysts, it seems that an analytics talent crisis may be looming. Companies are faced with a growing number of analytics initiatives, many times without the right talent to oversee and execute on them.

Managing your way through this talent gap requires an understanding of two critical analytics roles: the data scientist and the senior-level analytics leader. On the front lines of analytics are the data scientists – dubbed this century’s sexiest job. Sought after data scientists would not only be well versed in statistics, predictive analytics, and mathematics, but they also possess a deep understanding of your industry and business. They can design and test predictive models, and at the same time create stories from data and interpret results to decision makers.

As analytics climbs the corporate ladder, new roles are emerging. Chief Analytics (and Data) Officers are joining the C-suite even as lingering questions about elevating analytics to the highest ranks of the business remain: Can’t CIOs, CFOs, or even CEOs handle analytics at the management level?  Are analytics executives able to deliver new insights? And if they do, is the business prepared to execute on them? At the same time, the decision to elevate analytics to the highest ranks of the business is itself a powerful move – one that reflects a move toward a fact-based culture.

As organizations grapple with analytics skills, resources, and related organizational structures, the key is not to overdo it. Many budgets have been drained by over-investing in the wrong – or too many – analytics resources. Investigate aggressively and move prudently to obtain the right mix of analytics skills to support your business objectives.

For more on what to expect from talent in the ranks and in the c-suite this year, explore Deloitte’s interactive infographic, Analytics Trends 2014.

About Deloitte

As used in this document, "Deloitte" means Deloitte Consulting LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

Copyright © 2012 Deloitte Development LLC. All rights reserved.
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This publication contains general information only and Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte shall not be responsible for any loss sustained by any person who relies on this publication.

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