Analytics & Insight, a year in review 2017-18

I am the practice lead for Analytics & Insight at Futureheads recruitment, see below my interview on the past year and the year ahead.

How has the analytics and insight sector performed in 2017?

I would say it’s been a year of clarity and definition for the sector. Companies of all shapes and sizes have now reached a point where they have a strong understanding of their analytics and data science propositions.

For agencies in this space, a better understanding of analytics means they are able to deliver more impactful work for their clients.

While some brands have been collecting vast amounts of data for some years, it feels like 2017 has been the year when more companies were able to pivot from having some limited insights to being able to really harness the power of this data.

Improved understanding of this proposition has made the market more buoyant, and I’ve definitely seen more jobs in the space than in previous years, as more companies see the power of data-driven decision – making the future bright for data lovers!

I’ve seen particular growth in startups who are investing in a data function from the outset. For me, this represents a real sense of investment into the sector, and I expect to see this increase even further in 2018 and beyond.

Salaries are increasing steadily, but I would say that the data science salary bubble has burst. While remuneration is still increasing, it seems to be doing so at a slower, more sustainable pace. Generally, what I’m hearing is that analytics and insights professionals are less driven by money, and are instead looking for opportunities for progression and interesting projects, in particular, work-life balance has been a deciding factor for these unicorns!

What are the main changes that you have noticed?

The main change to the sector that I’ve seen is definitely a good one – data is being baked into both new and established companies alike. Data Science, analysis and insight is now at the heart of a full range of key business decisions, from building a sales pipeline to bootstrapping a digital product, and even in hiring strategies.

In the recruitment arena, one change I’ve noticed is an increased investment from companies in internal hiring teams that specialise in data roles, rather than being a generalist.

This is a really good indicator that businesses are serious about data recruitment, and it’s good for the market. As an agency recruiter, I can offer insight into the broader market, while specialist in-house recruiters really understand what role data plays in their business – working together means we can add real value both to each other and the wider market.

This does also mean the bar is being raised, and it's definitely getting harder to source talent in this climate (but it is great fun). You need to be more engaged, be technically knowledgeable, and engage with the whole business, from line managers, talent and procurement. But this kind of recruitment pays dividends for everyone.

What are the key trends in data technology & tools and how have they impacted the recruitment market?

For me, the key trend is the growth of open source data tech, such as python and R. This is having a really disruptive influence on the big software businesses like Adobe and Microsoft who have historically dominated data analysis products, pushing them to adapt and compete, which is raising the bar all round for technology in a good way.

The ability to build your own tools has really helped startups thrive as they are able to build effective data tools without needing to pay licencing costs, making it easier for companies of all shapes and sizes harness the power of data.

The rise of open source has also helped bolster and diversify a perennially talent short market, making it easier for people to learn the skills and transition into the industry. There are now lots of options out there, from ‘bedroom learning’, employer upskilling, and courses, such as the new Data Science General Assembly Course, which, after launching in the last year has had a real positive impact in feeding talent into the industry. I took great pleasure personally in speaking on a workshop panel one morning where I gave expert advice to the students about how to build a data science career and progress in a what is an already competitive arena.

This is creating a new breed of candidates who are proactively investing in their skills, which is, in turn, building a great pool of talent for organisations to pick from. Many of these ‘transitional’ data professionals bring diverse experience from previous careers, and I think this diversity of experience is, and will continue to be, a really great asset for the sector.

What are your plans for 2018?

Last year I joined Futureheads to establish the Analytics and Insight function, and we’re undertaking work in this space with both existing and new businesses. We also launched Frontier Forum, an executive forum for data lead analytics and product specialists to learn and discuss key industry topics and trends. We’ll continue to run events through the year so please do get in touch if you’d like to find out more about our plans.

This year, we’re continuing to build successful relationships with businesses who have the scope and the need to expand or develop a Data Science, Analytics or Insight function (or all three). It's certainly an exciting time, and I can't wait for the next twelve months.

We are also looking to grow and build the team internally. If you have a background in recruitment or sales, and ideally a focus or general interest in the Analytics & Insight space, then we’d like to hear from you. Click here to see more information and apply today.