Big data is rapidly transforming business intelligence. Companies, governments, and educational institutions are using it for many purposes including competition, innovation, productivity, consumer insights, historical and transactional data.
Big Data job roles have surfaced in the last few years alone that would not have been thought of ten years ago; data scientists, data architects, data visualizers, data virtualization, and cloud specialists, to name but a few.
So it is fair to say that in another ten years from now there will be even more Big Data jobs that don’t exist today. So, how do prepare for the Big Data jobs explosion?
According to research by McKinsey’s Business Technology Office, a retailer using Big Data has the potential to increase its margin by 60%. However, they also believe that business leaders will struggle with the ramifications of Big Data.
As it continues to grow, so will the implications. Leaders will need to source more than just a handful of data managers to cope. But how will they manage to do this with a huge skill shortage?
Eron Kelly, general manager of product marketing for Microsoft SQL Server wrote in a blog recently “In the next five years, we’ll generate more data as humankind than we generated in the previous 5,000 years.”
As data volume increases, the demand for professionals to deal with this does also. Data and analytics skills are in very high demand in all industries, but without skilled workers, there will be fierce competition. Many businesses could struggle with this and some may even collapse.
According to Tullio Siragusa in a web conference recently “Companies who would not embrace social media and big data would no longer be in business inside 20 years.”
Big Data and analytics aren’t just what big organizations need to survive and which can actually help them to grow. Data and analytics are now seen as critical business skills that any business needs to survive and indeed to thrive.
According to Richard Loop of Belt Electric, “Companies that make the wrong choices when selecting a technology partner will die.”
Big Data and analytics aren’t just what big organizations need to survive. They also need to rise to the challenge of Big Data and analytics because users, researchers, marketers, and business users are now depending on the information stored in a Big Data environment.
Each day we come across new business applications that make us go “wow”, as they say. Data warehousing, social media, cloud computing, SOA, CRM all require different skills.
Someone who is working in SOA or cloud computing will not be able to cope if you don’t have a sophisticated data warehouse. Similarly, if you don’t make the right decisions when using a BI tool, it could cost you your job as well as your business.
1400 burials with key performance indicators and time-based historical inquiries will make up the bulk of a data warehouse.
However, not all Big Data tools can provide all the information you might need. Inquiry databases may need to be turned into tabular ones, which will become the workers who will sift through unstructured documents to find the information you want.
How many retDiv worked in the last? How many columns have columns of data in them?
Do you know how many columns are in a data warehouse? How many distinct records are there in a warehouse?
Remember, not only does a data warehouse need to know how data is stored, it needs to be able to tell what that data is used for and who needs to use it.
Big data is no longer a fad. It’s the way of life, and as corporations face greater and greater regulation, there is no going back.
Think about it: in the last financial year, the Federal Reserve gave firms Pennsylvania Avenue, New York, Andersen Consulting Consulting, and Accenture Management Consulting clients as much as $120 billion in loans and other investments.
How can they afford it? By pricing services and products way below inflation, the costs have declined year after year. So the purchasing power of the average business isn’t dictated by capital investment, but by how efficiently services and products are delivered.
How do you transform your organization from a Shop-and-licks to a knowledge-driven business?
One of the best ways is to start by transforming the people driving the business.
Training is a great way to begin. About 75% of salespeople make their first 100 calls from their office. It’s uncommon for a salesperson to call a small business owner and ask him or her to teach a team member how to use Excel. Then, when the business owner feels that the person has the right knowledge, the salesperson will become his or her partner.
mentoring business owners on how to use Excel. It is important for salespeople to understand what their customers want and need. Often, salespeople are salesmen first and software developers second.