Rising demand for data analysis

New must-have on CV

NOT only has the advent of big data created new in-demand jobs but it is transforming established jobs and how they are done.

People in almost every industry and level of business will need to be familiar with data and analytics to do their job well, says technology evangelist Alan Eldridge, from data software company Tableau.

“The world’s most valuable resource is no longer oil, it’s data,” he says.

“In fact, analysts have identified that the lack of data-skilled talent is one of the biggest challenges for organisations across our region.

“Big data and analytics has applications across verticals like telecommunications, banking, financial services and insurance, government, manufacturing, retail, education and healthcare.

“Many of the issues that businesses are facing today are data-driven, and the right use of big data and analytics platforms can help to turn those issues into opportunities.”

More than half (55%) of analytics professionals surveyed by the Institute of Analytics Professionals of Australia say they are targeting big data analytics as a skill for improvement.

It is the most commonly cited skill, followed by machine learning and artificial intelligence, digital analytics, business leadership, and communication and influencing.

Eldridge says data analysis uses technologies such as predictive analysis, trend monitoring, real-time data visualisations and dashboards to convert business and customer actions into quantifiable insights in areas such as consumer behaviour, sales effectiveness, revenue management, supply chain management and marketing campaign efficiency.

“In the same way that use of Office applications has become a basic skill for

prospective employees, data computing and self-service data analytics skills are now being added on to that very same list as more businesses seek to hire and train individuals with these

skills,” he says.

“Individuals need to be training themselves – whether that be with online tutorials or evening classes or meet-ups – for self-service data analytics skills.”

Although data provides insights to replace gut feel, the human element of decision making should not be dismissed.

“Data, analytics and software should enhance the

human’s intelligence, not to replace it,” Eldridge says. “We still need our human judgment to interpret, understand, compare and contrast – and ultimately make the decisions.”