Data Science and Analytics (DSA) technologies are having a huge impact on the economy, but some sectors are embracing DSA jobs and skills faster than others.
The demand for DSA skills is projected to grow by 15% over the next five years, which translates to nearly 364,000 new job postings expected nationally by 2020, according to the Burning Glass Technologies report Quant Crunch. The fastest-growing roles are Data Scientists and Advanced Analysts, which are projected to see demand spike by 28%.
Today, nearly 59% of the jobs are currently being hired in the Tech and Finance industries. Yet, that still leaves 150,000 jobs to be hired in the other industries. How will industries just getting started with DSA be able to properly understand the job requirements and then source the talent? Companies need to prepare for the growing market forces and plan for possible disruption to their strategic goals if they have trouble hiring for the DSA demand.
The table below presents the percentage of jobs within each framework category that fall into each of the top industries.
If you are in an industry that hasn’t crashed against the DSA wave yet, you still have time to prepare. Look at the company’s business strategy and work through how the current workforce can or cannot adequately handle the increasing demand for data to drive business decisions, both operationally and strategically. Once you know what you are up against, you can plan the next move.
For more information about how DSA skills are impacting the job market, download The Quant Crunch: How the demand for data science skills is disrupting the market, a report conducted by Burning Glass Technologies on behalf of IBM and the Business-Higher Education Forum, which made a comprehensive study of the marketplace for data science and analytics skills.
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