Needed: statisticians – not nerds – with workplace knowledge

In the past, the word “statistician” conjured up images of a nerdy guy in drab grey clothes, sitting in a corner and tapping away at a clunky computer. He was the guy with the most boring job in the world.

But little did we know that he would become one of the most sought-after people in the business world, and that companies would pay handsomely for his skills.

Statistical analysis and data mining topped LinkedIn’s Top Skills of 2016 list in South Africa, based on job application and recruitment data. Last year, data analytics skills were more in demand than those for software development and network security, and it was the second-most in-demand skill globally.

In South Africa, organisations have realised that having in-house analytical skills make them more competitive. The ability to analyse data in real time and do predictive modelling enables faster, more informed decision-making, which allows businesses to better serve their customers, uncover new revenue streams, reduce risk and increase competitiveness.

Demand-supply mismatch

But finding data scientists with good programming, mathematical and statistical skills, as well as operations research, business and financial engineering skills, is a lot like finding a unicorn — not many people believe they exist.

They’re definitely rare in South Africa. That’s because few local universities collaborate with industry to establish what skills are needed and to tailor curriculums to meet demand. So, although there are many statisticians in South Africa, few of them have the real-world knowledge and experience that business requires.

This is because universities are slow to bring their curriculums in line with industry needs; it takes months to amend curriculums. As a result, they are producing graduates who do not have sufficient skills or the knowledge that businesses require.

Curriculums are currently developed from an academic point of view. This means universities produce good academics who understand the theory but are not necessarily good business people.

What can we do about it?

Collaboration between industry and academia is crucial if we are to meet the demand for statistical skills.

For many years, the SAS Institute has collaborated with North-West University to develop focused, relevant undergraduate and postgraduate programmes to produce graduates who have a robust set of analytical skills that serve industry’s needs.

Students are exposed to real-world projects with partner organisations so they can enter the industry with first-hand knowledge and experience of statistics in the workplace.

Industry needs to engage universities actively to clarify their needs and support teaching and research efforts with internships and project work, and by providing bursaries and research funding. Academia must come to the party by developing relevant offerings.

For many years, statistics was the proverbial dog chasing the bus. Now that it has caught the bus, it needs to ride the wave of analytics. Through collaboration between academia and industry, we can all jump on the bus and ride the high seas of business discovery and increased competitiveness.