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​

• 79 percent of enterprise executives say that not embracing big data will cause companies to lose competitive position and risk extinction.
• By 2025, the amount of the global datasphere subject to data analysis will grow by a factor of 50 to 5.2 zettabytes.
• 70 percent of investment professionals use “alternative data” or plan to do so in the next year.
• 62 percent of retail businesses see competitive advantages from information and analytics.
• 53 percent of CEOs consider themselves the primary leader of their company’s analytics agenda.
• Analytics leaders are nearly twice as likely as others to report enacting a long-term strategy to respond to changes in core business practices.
• Through 2019, 90% of large organizations will have hired a CDO, but only 50% will be considered a success.
• Content analytics usage among IT professionals increased from 43 percent to 54 percent between January 2018 and January 2019.
• 21 percent of investment professionals use web traffic to derive data.
• 90 percent of the world’s data was created between 2015 and 2016 alone.