With the supply of analytics talent in the labor force slowly growing to meet demand, a majority of companies are looking within their own walls for solutions. While there is clearly a need for new graduates and data scientists who know the most cutting-edge techniques of analysis, there is just as much of a need for information workers who know both the business and technical sides of an organization.
Current employees who are able to develop an analytics skill set and combine that with their knowledge of the business can be invaluable when moving analytical insights across the “last mile” to decision makers. For companies that find it difficult to lure top talent, their analytics capability can make substantial advances by looking differently at their own existing talent.
Source for picture: MIT Sloan
Companies that are most successful with analytics have a very different approach to hiring, training, integrating and promoting data workers than other organizations. They are pursuing many paths simultaneously to build and maintain a strong corporate analytics skill set. The question for all companies concerned with building their analytics capabilities is this: What is your plan for cultivating analytics talent?
To further understand the challenges and opportunities associated with the use of business analytics, MIT Sloan Management Review conducted its fifth annual survey of business executives, managers and analytics professionals from organizations located around the globe. The survey, conducted in the fall of 2014, captured insights from 2,719 respondents, from a wide variety of industries and from organizations of all sizes. The sample was drawn from a number of sources, including MIT alumni and MIT Sloan Management Review subscribers.
In addition to these survey results, we interviewed subject matter experts from a number of industries and disciplines to understand the practical issues facing organizations today in their use of analytics. Our interviewees’ insights contributed to a richer understanding of the data. We also drew upon a number of case studies to illustrate how organizations are using business analytics as a strategic asset. Earlier results from the research appeared in the Spring 2015 issue of the MIT Sloan Management Review.
Our Global Executive Study and Research Report, entitled The Talent Dividend, can be read in its entirety here, both on the microsite created for the report (open access) as well as a downloadable PDF (registration required).