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​

• 60 percent of businesses believe it is harder to source talent for data and analytics positions than for any other roles
• Analytics leaders are nearly twice as likely as others to report enacting a long-term strategy to respond to changes in core business practices.
• The education vertical currently has the lowest adoption of big data among vertical industries, but educators are most likely to say they may use big data in the future.
• The amount of data generated each second in the banking sector will grow 700 percent by 2020.
• Data warehouse optimization is considered the most important big data analytics use case, and is considered critical or very important by 70 percent of businesses.
• 8 percent of businesses say data and analytics have fundamentally changed the nature of industry-wide competition
• Content analytics usage among IT professionals increased from 43 percent to 54 percent between January 2018 and January 2019.
• In the banking sector, investments in big data analytics were estimated at $20.8 billion in 2016.
• The number of IT professionals using descriptive and predictive analytics grew from the mid-40th percentile to high 60th percentile between January 2018 and January 2019.
• The big data software market was worth $31 billion in 2018, growing 14 percent from the year before.