Data-Driven Everything: Exploring the Analytics Job Market
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By Francis Alexander , Senior Principal Consultant at Trust In SODA
The analytics uprising is in full swing as firms rush to make the most of their data, and it’s a lot of data.
Some estimates suggest that we (the human team) generate around 147 million zettabytes of data every year, the equivalent of 22 trillion hours of high-definition video.
Now, with a menagerie of tech tools at their disposal, businesses have a better chance to capture, compare, and quantify their vast data reserves than ever before.
With a CAGR of 12.25%, the financial analytics market is set to reach $21.6 billion by 2030, driven by the advent of increasingly powerful systems.
We’re seeing this reflected in the labor market – demand for business analysts is strong, with vacancies opening up in some unlikely places, including agriculture and luxury goods.
The broader finance space is among the most profoundly affected. Firms now have more scope to process massive amounts of data –?whether they’re assessing credit risk, tailoring lending rates, optimizing investment strategies, or detecting fraud in real time, the ability to draw value from data is essential.
How is it affecting business analyst jobs? What will tomorrow’s teams look like in the US’s fast-changing market? Our recruitment consultants took a closer look.
Strong Growth Outlook
The market is maturing. As the technical side of the analyst’s role expands, sectors like banking and insurance will continue targeting candidates who can bridge the gap between business strategy and complex technologies.
Roles are becoming more specialized as firms lean into their new IT-esque identities, and the greater call for talent signals a recognition of the analyst’s importance.
Moreover, there’s a growing trend of BA roles merging with product management, or at least, seeing their responsibilities expand in that direction. It’s chiefly a result of:
As we saw in 2024, agility will be the name of the game this year. Business analysts represent an opportunity to close knowledge gaps between functions, a crucial advantage as AI adoption skyrockets and leaders look to streamline their teams.
Pricing Analytics
Advancements in pricing analytics have redefined cost control, giving rise to a new era of streamlined profit management. Dynamic pricing, for example, shines in finance, particularly in areas like insurance and investments where personalized rates and real-time risk profiling are critical to improving customer outcomes.
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Correspondingly, we’re seeing a spike in hiring activity across the actuarial space as vacancies for pricing analysts, revenue managers, and data product owners increase.
Here’s where we’re seeing a convergence of disciplines – machine learning, predictive analytics, and algorithm development.
For hiring managers, pinpointing this talent in what can feel like a saturated market is tough.
Striking the balance between commercial-mindedness and technical proficiency is crucial. While strong analytical and problem-solving skills are essential, the ability to translate complex data into actionable insights is what sets the top performers apart.
A Complex Market
The US finance space is poised for some major changes in the months ahead. Preparing to navigate the complexities of today’s (and tomorrow’s) hiring market demands exploring non-traditional hiring methods, Trust in SODA’s bread and butter.
A focus on retention will be essential in the coming months, an intrinsic part of the recruitment process that, somewhat surprisingly, tends to get overlooked.
Defensible, adaptable talent pipelines will be the edge that helps firms win market share in a tech-frenzied world.
How are you hiring your analyst talent in 2025?
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