60 percent of businesses believe it is harder to source talent for data and analytics positions than for any other roles
The quote “60 percent of businesses believe it is harder to source talent for data and analytics positions than for any other roles” is accurate and reflects a growing challenge in the industry. This statistic comes from a McKinsey study that highlights the increasing difficulty companies face when trying to hire talent with data and analytics expertise. The demand for professionals who can manage, analyze, and leverage data is surging, but the supply of such talent is not keeping pace, making these roles harder to fill compared to others.
This issue is significant because businesses are increasingly relying on data-driven decision-making to gain competitive advantages, optimize operations, and create new revenue streams. Without the necessary talent, companies struggle to fully utilize their data and may fall behind their competitors.
A fractional data team could be an ideal solution to this problem. Fractional data teams provide access to specialized, on-demand data experts without the need for full-time hires. This approach offers flexibility and scalability, allowing businesses to tap into top-tier talent when needed, while also reducing overhead costs. Fractional teams can quickly bridge the talent gap, enabling companies to continue their data initiatives without the delays or challenges associated with hiring full-time personnel
- 40 percent of businesses say they need to manage unstructured data on a frequent basis.
- By 2025, more than a quarter of all data created will be real-time, with 95% of that data generated by the Internet of Things.
- 95 percent of businesses need to manage unstructured data.
- 45 percent of companies run at least some big data workloads in the cloud.
- 62 percent of retail businesses see competitive advantages from information and analytics.
- Businesses that use big data saw a profit increase of 8–10 percent.
- 70 percent of investment professionals use “alternative data” or plan to do so in the next year.
- Nearly 50 percent of businesses say big data and analytics have fundamentally changed business practices in their sales and marketing departments.
- Insights-driven businesses are growing at an average of more than 30% each year, and by 2021, they are predicted to take $1.8 trillion annually from their less-informed peers.
- Businesses that use big data saw a 10 percent reduction in overall cost.
