The world is a big data machine. But this data doesn’t mean much if it cannot be used effectively. Businesses across industries struggle to acquire talent that can increase their data-driven capacities. This race to create a data-fuelled business enterprise has led to a massive shortage of the right people for the right job. In India alone, the data analytics industry is expected to hit the $118.7 billion mark by 2026, according to India Brand Equity Foundation.1 This market will create employment opportunities to the tune of 11 million jobs by 2026. It will also witness a 33.49% increase in investments in AI and ML learning by the end of 2022.
As organisations are adopting data analytics at a rapid pace, they are also scrambling to hire the right professionals adept at collecting and preparing data for analyses, applying ML techniques to solve business problems, and using data-driven decision-making to make more informed business decisions. LinkedIn’s Job on the Rise 2022 report also shows that ML engineer and data science specialists are among the most in-demand job roles of the present and foreseeable future.
In a volatile market, the evolving nature of work and the proliferation of digital business technology are causing skills gaps. Embracing data and analytics strategies is a must for sustainable business performance. Thus, addressing knowledge gaps and reskilling in analytics is not only a good to have but a must for professionals across sectors. Improving data literacy and utility will be beneficial not only for organisations but also for the professional growth and longevity of future data science leaders. Therefore, going forward, it will also be important for data science professionals to learn how to manage data science and analytics teams and improve functional performance through analytics.
The good news is that these data and analytics trends can help to prepare you for a business world that demands new forms of growth, resilience and innovation. With the right approach, training and institutional support, professionals without experience in coding can enter the lucrative data analytics market known to offer salaries starting from INR 25 lakhs per annum (Source: Livemint) and work in positions like data analyst, data architect, statistician, project manager, chief data officer, ML engineer and many other roles.
Why choose ISB Executive Education’s Applied Business Analytics programme?
From data pre-processing, and data analytics using ML to data-driven business insights, this programme will teach you how to predict outcomes, be agile, and prepare for risks. You will learn how to apply ML techniques, analytics, and data-driven decision-making to solve business problems. This 12-week data science programme integrates hands-on practice with real-world applications to give you a comprehensive understanding of data analytics for business.
Join this programme to champion data in your professional journey and organisation for assured transformation.
Disclaimer: This article has been produced on behalf of Erulearning by Times Internet’s Spotlight team.