A new report from McKinsey, the global management consulting firm, projects there will be a continuing severe shortage of analytics talent well into the decade. The report concludes: “By 2018, the United States alone could face a shortage of 140,000 to 190,000 people with deep analytical skills as well as 1.5 million managers and analysts with the know-how to use the analysis of big data to make effective decisions.” McKinsey sees the application of analytics as the key basis of competition, underpinning new waves of productivity growth, innovation, and consumer surplus. “Leaders in every sector will have to grapple with the implications of big data, not just a few data-oriented managers. The increasing volume and detail of information captured by enterprises, the rise of multimedia, social media, and the Internet of Things will fuel exponential growth in data for the foreseeable future.” The Master of Science in Analytics (MSA) degree program was launched in 2007 to directly address the shortage of talent.
Source: McKinsey Global Institute, Big Data: The Next Frontier for Innovation, Competition and Productivity (May 2011).