How Organizations Can Deal With the Shortage in Data Scientists

Given the fact that the term data scientist has only been coined since 2008, it is a surprising fact to learn that there is a major global shortage of the wonderful wizards of big data.

In 2008 DJ Patil who at the time was the head of analytics at LinkedIn, created the people you may know feature through the interpretation of big data. So its easy to see just how the use of big data has shaped our everyday technological life. But just what is big data, data science and why is it the hottest, most in-demand career in tech right now?

A study into the current job market by Solas Consulting has predicted that the Irish market is set to boom, with far more jobs in data analytics and science becoming available than there will be qualified people to fill them. At present, a data scientist in Ireland can take their pick of jobs with up to three jobs within their respected field as the number of job opportunities continues to grow at a rapid pace.

Data Scientists interpret data to find solutions to problems that arise in business. Although, this is not to be confused with the old ways of business intelligence. The Data Scientist of 2016 has been described as part analyst, part artist. The combination of an analytical mind must be accompanied by the ability to interpret data to spot trends in business that are otherwise unseen. This skill requires an innate sense of creativity and thinking outside of the box. A solid foundation in maths, analytics, computer science and applications, as well as computer programming are some of the many skills needed to succeed in a career in data science.

The all-star hybrid data scientist jobs that are often advertised online are something to take with a pinch of salt. As with most careers in tech, it is not likely that you have had extensive experience in all areas that are required on the job spec. An article published by Data Science Central states that it is important to look beyond the definition of the unicorn data scientist. In reality, the amount of candidates that would qualify for each and every requirement on the job spec are very few and far between.

Seamus Breslin from Solas Consulting offers some advice for those pursuing roles in Data Science. Dont be put off if you see a job spec that requires a huge variety of qualifications, take a chance even if you havent had first-hand experience in these disciplines. If you have a mathematical and statistical background, you are driven by data and interested in doing applied research then go for it. Data Scientists are often made up of a teams of different skill sets who excel in their respected areas.

Given the fact that there is a global shortage of ideal candidates to fill every role within data science, teams are often put together to utilize the best of each skill set to get the coveted data that companies need. In fact, this was the very case for British Airways when they created the Know Me team. The company combatted the shortage of unicorn data scientists by combining experts within their fields to combine with the exact types of skills that they needed. British Airways took the approach that the skill sets that were needed for their team already existed within their teams and so they just pieced them together to create the perfect data science team.

The shortage of data scientists is not just affecting the Irish employment market. There has been a surge in the demand for data scientists across the globe. With multi-national companies utilizing data scientists worldwide to come up with business solutions, you can see why it is the most in demand career right now. Job Market predictions on a global level all resonate the same information; and that is there is not enough highly skilled people to fill the roles that will become available. One of the key reasons for this is that education and teaching cant develop at the rapid pace that technology does.

A report by Frfas and the Expert Group of Future Skills Needs has revealed that by the year 2020 there could be almost 21,000 job vacancies in the field of data science in Ireland. 

The study conducted by Solas Consulting shows that at present there are 600+ jobs available in Ireland and the availability of job opportunity is in a continued state of growth. In the United States, it is reported that by 2018 there will be more that there will be more than 490,00 open positions available but only 200,000 qualified people to fill the roles. The average size of a graduate class of data science students is 23 students. With approximately only 110 Universities offering data science studies the growing market will continue to feel the pressure in the US.

The employment market in the United Kingdom reflects the same issue of education lacking in its capability to keep up with demand. In the Uk there are only 25 Master Degree programs available but the job market continues to boom with over 3,000 jobs currently available.

In a world where knowledge is truly power, data scientists hold the key to unlocking future business development. However, until the day that the myth of the perfectly qualified Data Scientist fabricates into the job market and matches the employers over realistic CV, employers should take an innovative approach to the hiring of potential candidates. Teamwork, creativity and imagination are at the very core of the interpretation of big data, but this is also an approach that should be taken by recruiters in the pursuit of the unicorn data scientist.