Tuesday, August 30, 2016

Predictions for Big Data via @BernardMarr #124

Image source: TimoElliott.com.
In just three weeks over 200 students will commence studies in Data Analytics at the National College of Ireland. Once again I will be lecturing in Statistics on the Higher Diploma in Data Analytics - a module I very much look forward to. It should be another great year for our students with great success in securing employment.

Some of the things that our students will be thinking about while studying data analytics is what the future holds in this space. Bernard Marr, writing in Linkedin, gives us a great insight into "Big Data: 17 Predictions Everyone Should Read". I will not mention all 17 predictions here, but I was most interested in the following from a learning and teaching point of view:

  7. Big data will face huge challenges around privacy
  8. More companies will appoint a chief data officer (CDO)
10. Big data staffing shortages will expand
11. But the big data talent crunch may ease as companies employ new tactics
15. All companies are data businesses now

Privacy is certainly a concern as businesses wonder what to do with the vast amounts of data that they collect. With the advent of more data regulation, companies will have to employ specialist CDOs to oversee their data policies. Good news for aspiring students, and Colleges who provide courses, is that Marr predicts great demand for data workers. Many companies are responding to the shortage of data staff by training their own people - this is turn might create more entry level positions for graduates.

I love point #15 where Marr tells us that all "companies are data businesses now". Many companies, particularly small ones, may not be aware of this nor may they need to employ a data scientist. But if you have any customer data, buy/sell products, produce audited accounts, conform to any professional standards, have a social media presence for your business, use credit/debit card transactions - then you are a data business.

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