data-analytics
Analytics Market Update & Salary Report 2017
​Analytics in the Spotlight2016 has been another great year for Data Analytics with more companies than ever before investing in analytical technologies globally; a trend set to continue into 2017. However, data intelligence was heavily scrutinised throughout the year and data analysis was placed firmly in the media spotlight during two of the biggest political events of the year, Brexit and the US Presidential Election. The inconsistent polling data during the EU Referendum and US Election has largely called into question the reliability ofanalyticaltechnology.What can we expect in 2017?This paper aims to provide a commentary and insight on the Analytics market in 2016 and a 2017 outlook of key trends in the talent pool, including:Artificial Intelligence (AI)Smart CitiesBehavioural AnalyticsTalent DiversityCloud AnalyticsShortage of TalentAlthough these events have not currentlyhadany major effect on the market growth of analytics, there will be increased pressure on analytical data provided; especially surrounding polling data analytics and future voting.​Trends & Talent Challenges 2017a. Artificial Intelligence (AI)Artificial Intelligence (AI) has been chosen by Gartner as the No.1 strategic technology trend to watch for in 2017.Machine learning was one of the highest sought after skillsets of 2016 and, with ever-evolving AI algorithms, looks to remain one of the hottest skillsofthe coming year. Companies are relying more upon Real-Time Data Analysis and Statistical Analysis than ever before to increase business success, which has subsequently led to a rise of Advanced Analytics projects, where AI is an essential component.What does thismeansfor hiring across APAC?Throughout 2017 we expect to see Artificial Intelligence / Machine Learning being the most in-demand skill of the year. While companies are growing their teams, it is clear that in regions, like Singapore and Hong Kong, there will be a drive to encourage more Computer Science Degrees at universities. This initiative will drive home-grown talent in the market for future years, whilst also hiring from other technical analytical areas (such as Business Intelligence) and cross training them to bridge the skills gap.b. Smart CitiesSingapore is one of the pioneering nations for the Smart City revolution. With the increase in IoT (Internet of Things), Security and Big Data, the Smart City is the global aim for many other locations. Access to emerging technologies allows a wider reach of analytics information which in turn, allows governments to improve urban living, including infrastructure, healthcare, transport and other services. Many technology companies are heavily involved in the growth of this ‘smart city’ revolution, with development projects focused more on the idea.What does thismeansfor hiring across APAC?With Singapore and Hong Kong being the prototype or implementer in many smart city revolutions; for example the driverless vehicles, the need for IoT expertise is going to dramatically increase. 2017 will show Internet of Things as a key requirement in many industries. Similar to AI, there will be an uptake required on hiring from other analytical technologies with the intention to cross train into IoT, as emerging technologies inevitably see a skills shortage during early stages of the technology life-cycle. There will be a surge in self-training as talent with initiative to learn will be a hot commodity and bridge the gap for potential employers.c. Behavioural AnalyticsWithin theecommerceindustry, behavioural analytics is becoming essential for business success. Forbes highlights that 2016 was the first year in US history that digital advertising exceeded TV spending, with digital ads holding 36.8% of the market share. This will only continue to increase with the development of behavioural analytics. The ability to predict consumer behaviour using analytical technology is particularly important within the Asia Pacific market, due to the rise ofecommerceand technology start-up over the last 5 years.What does this means for hiring across APAC?2017 will likely see a rise in experienced candidates across; Insights, Behavioural and Consumer Analytics. There will be an even bigger demand for talent in the commercial space ofecommerceand retail. In addition, we will see growth of the Technology Sales market; aimed at revenue generation in Behavioural Analytics specialist technology.d. Talent DiversityIt is no secret that there is a global strive for diversity in all major industries; the Analytics and Technology space is no exception. One of the main hiring focuses for 2017 is to bring more gender diversity into technology careers.From a broad perspective, in Singapore’sworkforcethere has been a decrease of women in STEM professional occupations from 22% in 2015 down to 21% in 2016.However, in the technology sector there has been an increase of 4400 more women entering the field since 2015, and as a technicalengineerthe overall year increase rose from 18% to 19%. Albeit, these numbers are small, it does show that technology in Singapore is on the rise as a chosen career path. There is still a large shortage of women in technology in Singapore, of which there will be a growing demand in 2017.e. Cloud Analytics‘Cloud’ is still one of the biggest buzzwords in the technology market and will remain so into the coming year. Companies are continuing to invest incloud basedsolutions and place more reliability in cloud technology. For Cloud Analytics, this means that more analytical technology elements including; data models, data storage, sources and applications which will be cloud based rather than on premise.For talent; there is a major skills gap in cloud knowledge; cross training is the only solution to invest in candidates who can overlap between Cloud and Analytics talent pools, particularly in areas such as Big Data, where there is already a shortage of candidates. Companies must be willing to pay the price for people who have 5+ years’ experience.f. Shortage of TalentWith the fast growth of emerging technology the talent shortage is a rising problem in theAsia Pacificregion; particularly in the financial hubs of Singapore and Hong Kong where local specialised talent is low. Companies are struggling to get projects started or completed due to a lack of talent, consequently causing a delay in technological advancements in the Analytics area.A large shortage is arising in the region because many candidates possess either technical or business facing skills rather a balance of both, Analytics roles often require both.This thereforemeans that the APAC market is a candidate driven one with huge talent dearth.In order to bridge this talent gap, employers need to either look at hiring candidates with transferable skills and providing training on missing areas or hiring talent from overseas / attracting Singaporean technical candidates back home who have moved overseas. In addition, employers will need to acknowledge this lack of talent by offering candidates with these high demand skills a suitable pay increase before their competition does.​APAC Analytics market hiringFrom a recent survey of Glocomms clients, the biggest need in 2017 will be for candidates to have multiple technical competencies that show variety, agility and adaptability to change in the fast-moving technology world. Particular experience preferred, in addition to the earlier mentioned, is Cloud Infrastructure, Cyber Security, DevOps and Agile. Within the SME environment, clients most likely prefer a mix of techstart upstyleof working with the ability to engage traditionally with upper management.​Analytics Technology to watchArtificial Intelligence & Machine LearningBig DataBehavioural AnalyticsInternet of ThingsSmart CitiesCloud AnalyticsDigital AnalyticsInsights Augmented RealityBusiness IntelligenceMost Hired Analytics in 2017Data ScientistData AnalystData ArchitectAnalytics ManagerData Engineer
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