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Business analysts in high demand

April 19, 2013
By TEKsystems

There are many IT careers experiencing increased demand for their services, including business analytics experts. A recent report by IDC said that more IT services providers are using analytics, placing a premium on these professionals as a result. Global spending for analytics services is projected to expand at a compound annual growth rate of 14.3 percent between 2012 and 2016, totaling nearly $71 billion.

Mukesh Dialani, IDC research director, said business analytics tools are becoming more popular to help customers and deliver greater insight into overall company performance.

"These include industry-specific and functional resources, infrastructure, and knowledge of best business practice industry performance metrics," said Dialani.

The research firm said that there will be a skills shortage regarding mathematicians, business analysts, data scientists, statisticians and data modelers. The rapid evolution of automation and analytics is making it difficult for businesses to have the proper infrastructure and teams available to take advantage of this information.

Decision-makers whose companies require business analysts but cannot find this talent should consider enlisting the help of IT staffing professionals to bridge this potential gap. Service providers like TEKsystems have the IT connections and resources to locate experts so clients' workforce needs are met.

More IT training needed for more data analysts
As more businesses across most industries try to extract value from corporate information, the demand for data analysts will continue to surge. Jerry Oglesby, senior director of global academic and certifications programs at SAS, asserted that more IT training is a necessity to address the shortage of these professionals, Forbes reported. He noted that SAS has been asked by many organizations to find candidates with backgrounds in software and analytics.

"The universities have been a little slow to move in the unstructured direction, although now I am beginning to see they are adding courses that cover unstructured data in their programs," Oglesby said, according to Forbes.

SAS has been a major proponent of promoting more training initiatives to address this growing skills gap. Forbes reported that the company partnered with North Carolina State University more than seven years ago to establish an analytics program. This year will mark the sixth graduating class that earned this degree. According to Oglesby, graduates can expect to find employment in several fields, including government, healthcare and fraud detection. 

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