EMC announced the results of a global survey the company conducted that shows that with the data explosion occurring, only one-third of companies are making effective use of data.
its findings from a global survey of the data science community, which showed
that only one-third of the companies polled are making effective use of data.
The EMC survey
covers the United States, the United Kingdom, France, Germany, India and China,
and it reveals and quantifies a rampant scarcity across the globe for the
prerequisite skills necessary for a company to capitalize on the opportunities
found at the intersection of "big data" and data analytics, EMC
officials said. Indeed, only one-third of companies are able to effectively use
new data to assist their business decision making, gain competitive advantage,
drive productivity growth, yield innovation and reveal customer insights, EMC
said in a press release on the survey.
The survey revealed
that the explosion of digital data
created by mobile
sensors, social media, surveillance, medical imaging, smart grids and the like-combined
with new tools for analyzing it all-has created a corresponding explosion in
the opportunity to generate value and insights from the data. As such, the
business demand for data scientists has quickly outpaced the supply of talent,
Data Science Study" respondents included nearly 500 members of the global data
science community, such as data scientists and professionals from related
disciplines (data analysts, data specialists, business intelligence analysts,
information analysts and data engineers), all of whom have IT decision-making
data era has arrived in full force, bringing with it an unprecedented
opportunity to transform business and the way we work and live," said Jeremy
Burton, executive vice president and chief marketing officer at EMC, in a
statement. "Through the convergence of massive scale-out storage,
next-generation analytics and visualization capability, the technology is in
place. What's needed to fully realize its value is a vibrant, interconnected,
highly-skilled and empowered data science community to reveal relevant trend
patterns and uncover new insights hidden within."
found that 65 percent of data science professionals believe demand for data
science talent will outpace the supply over the next five years.
tools nor people alone can solve the challenges of big data," said Michael
Driscoll, co-founder and CTO at MetaMarkets, in a statement. "They must work
together, and that is the promise of data science. Despite advances in software
tools, the number of people with experience using these tools, and with
real-life exposure to large-scale data sets, is small. Data science is a young
field, and its growth will be fueled as much by technology as through the
mentorship of new acolytes by leading practitioners."
in a data-driven world. Increasingly, the efficient operation of organizations
across sectors relies on the effective use of vast amounts of data," said
Andreas Weigend, head of the Social Data Lab at Stanford University and former
chief scientist at Amazon.com, in a statement. "Making sense of big data is a
combination of organizations having the tools, skills and, more importantly,
the mindset to see data as the new -oil' fueling a company. Unfortunately, the
technology has evolved faster than the workforce skills to make sense of it,
and organizations across sectors must adapt to this new reality or
The survey also
showed that the most commonly cited barriers to data science adoption include lack
of skills or training (32%), budget/resources (32%), the wrong organizational
structure (14%) and lack of tools/technology (10%).
The EMC study
also found that data scientists are more likely than business intelligence
professionals to be involved across the data lifecycle-from acquiring new data
sets to making business decisions based on the data. This includes filtering
and organizing data as well as representing data visually and telling a story