Largest-ever Data Science Study cites looming talent shortage, lack of open data access as key opportunity inhibitors for big data.
Only one-third of companies are able to effectively use new data to assist their business decision-making, gain competitive advantage, drive productivity growth, yield innovation and reveal customer insights.
The survey revealed that the explosion of digital data created by mobile sensors, social media, surveillance, medical imaging, smart grids and the like - combined with new tools for analysing it all – has created a corresponding explosion in the opportunity to generate value and insights from the data. As such, the business demand for data scientists has quickly outpaced the supply of talent.
The EMC Data Science Study respondents included nearly 500 members of the data science community globally, including: data scientists and professionals from related disciplines such as data analysts, data specialists, business intelligence analysts, information analysts and data engineers globally, all of whom have IT decision-making authority.
Key findings:* Informed decision-making – only one-third of respondents are very confident in their company's ability to make business decisions based on new data.
“We live in a data-driven world. Increasingly, the efficient operation of organisations across sectors relies on the effective use of vast amounts of data. Making sense of big data is a combination of organisations having the tools, skills, and more importantly, the mindset to see data as the new 'oil' fuelling a company.
“Unfortunately, the technology has evolved faster than the workforce skills to make sense of it and organisations across sectors must adapt to this new reality or perish,” said Andreas Weigend, PhD Stanford, Head of the Social Data Lab at Stanford, former Chief Scientist Amazon.com.
“Neither tools nor people alone can solve the challenges of big data. They must work together and that is the promise of data science. Despite advances in software tools, the number of people with experience using these tools, and with real-life exposure to large-scale data sets, is small. Data science is a young field, and its growth will be fuelled as much by technology as through the mentorship of new acolytes by leading practitioners,” said Michael Driscoll, PhD Boston University, Co-Founder and CTO at MetaMarkets.
EMC executive quote:
“The big data era has arrived in full force, bringing with it an unprecedented opportunity to transform business and the way we work and live. Through the convergence of massive scale-out storage, next-generation analytics and visualisation capability, the technology is in place. What's needed to fully realise its value is a vibrant, interconnected, highly-skilled and empowered data science community to reveal relevant trend patterns and uncover new insights hidden within,” said Inana Nkanza, Country Manager of EMC Southern Africa.
* Read the EMC Data Science Study in full
* Read Chuck Hollis's blog: 'Understanding The New Rock Star: The EMC Data Science Survey'
* Read the EMC Education Services release announcing new training and certification programme focused entirely on Data Science & Big Data Analytics
* Connect with EMC via Twitter, Facebook, YouTube, LinkedIn and ECN.
EMC Data Science Study
EMC conducted an independent research study to measure attitudinal and behavioural profiles of data scientists and business intelligence professionals globally and across industries. A total of 462 IT decision-makers who self-identified as either a data scientist or business intelligence professional participated in this market research study through participation with research partner Toluna. An additional 35 participated by invitation through their previous attendance at the EMC Data Scientist Summit and the online data scientist community Kaggle. The survey was designed to provide a first-ever look into the behavioural patterns, thoughts, and needs of the data science community.
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