UK companies are struggling to find employees with the big data and analytics skills that they need.
That's according to a new report released by SAS Institute, called "Big Data Analytics: Adoption and employment trends". It suggests that 69,000 big data specialists will be needed in the public and private sectors by 2017 for organisations to be able to properly make evidence-based business decisions.
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It's estimated that one-third of large organisations will adopt a big data analytics programme over the next five years, pushing up demand for those with the required skills by 243 per cent, compared with the number currently available.
"Business sectors across the economy are being transformed by data, analytics, and modelling. The UK now has the opportunity to take a lead in the global efforts to deal with the volume, velocity and variety of data created each day," said Lord Green, Minister of State for Trade and Investment.
"To do this we need to ensure the government, academia and businesses work together to further develop the skills available to us today and actively support programmes that nurture development in the next generation."
Professor Philip Treleaven, Director of UK Financial Computing Centre at University College London added that there needs to be a particular focus on development of analytical skills required in finanicial services, with the sector one of the largest adopters of big data.
"There is a real need to focus on business analytics and in particular ask our colleagues working in social science to look at the development of courses that will tap into the richness of information that is available from consumers through initiatives such as customer loyalty," he said
"We also need to bring students to our industry organisations that are already working with big data. If we find the right student and place them with the organisation, it provides the businesses with resources to explore just how they can turn insight from their data into business innovation.
It also means that the data retains its integrity in the environment designed for it and a stronger chance of employment for the student," Professor Treleaven added.
Karen Price, CEO at e-skills UK argued that the UK has the potential to be a global leader in the teaching and application of big data and analytics skills.
"We recognise that big data analytics skills are a strategic priority for UK businesses, alongside areas like cyber security, e-commerce and mobile computing," she said.
"These are skills upon which companies of all sizes will be reliant in future, and in which the UK has global leadership potential.
"In recognition of this, we are bringing employers and educators together, to develop industry-led apprenticeships, degree courses and professional development opportunities, which will raise the skill levels of existing workers and increase the supply of new entrants with specialist expertise," Price concluded.
The SAS report is based on what the firm calls the largest study on the uptake of big data and analytics ever undertaken in the UK, with information collected from over 1,000 organisations.
