Historical reasons behind the high demand for data talent?

Companies across industries are facing increasing data needs. The demand for data scientists is predicted to grow by 36% between 2021 and 2031.

The demand for data engineers also remains strong, fuelled by the fact that those roles are not easily replaced by AI-powered software tools. ?

But what are the historical reasons behind the high demand for data talent? ?

Historical reasons behind the high demand for data talent ?

Since the birth of information systems, the data generated or gathered by systems, applications, and devices has continued to grow, followed by increasing diversity of structures and formats. Additionally, over the years, the process of collecting and storing data has been becoming progressively easier, making it more accessible to a greater number of companies. Provided with valuable information these organizations were able to enhance their decision-making, increasing their revenues and profits. ?

Importance of data - data-driven business model ?

Collecting data is important for companies because they can turn it into information, which is a critical element in the highly competitive business environment. ?

?In a modern market, fast access to accurate information is a key to adequate decision-making, becoming a foundation of competitive differentiation. It is an asset that enables a data-driven business model and can mean the difference between the success and failure of a company. ?

The increasing complexity of the data talent landscape ?

There have been multiple technologies and tools created in order to collect, store, organize and visualize information in a friendly way. Also, different types of roles emerged for professionals responsible for performing these tasks. ?

Among the different professions are Database Administrator, Data Engineer, Data Analyst, and Data Scientist among others. All of them, working as a team, oversee different parts of the information management process. ?

Final thoughts ?

In 2023 solid data strategy is a must for businesses that want to remain competitive. Taking decisions based on what’s known allows them to react quickly and efficiently to changes in the market and to take advantage of opportunities in an optimal way. ?

And one thing is certain - to turn data into an asset you need, besides a strategy, you need a competent talent in place. ?