By Brooklyn Pinheiro
According to studies in the United States, there are a shortage of people with deep analytical skills — which makes it difficult for employers to fill this skill set.
Ryerson is leading a project to find out if there is a similar shortage across Canada. The project is part of Canada’s Big Data Consortium, which brings together education, businesses, and government to address the gap and combat it for continued economic growth across Canada.
Big data refers to large sets of data which can be analyzed to better understand patterns within society. Advanced analytics employs various strategies of analysis in different areas to drive change and improvement within an organization.
Being proficient in big data and advance analytics allows companies a beneficial edge within the market. This usage allows for better pricing, customer satisfaction and overall growth. The usage of these tools in various sectors improves how the organization can function to meet there goals.
“If you look at the advantage people get that are using data and analytics… it’s a significant difference,” said David Court, director of McKinsey and Company in an informational video explaining the significance of the tools.
The first stage of the project is a national survey, which began on Oct. 31 and runs until Dec. 31. The survey consists of questions which aim to determine the impact and amount of big data and advanced analytics within organizations from across various sectors The objective is to find whether the skill gap exists and to what extent within Canada.
The second stage will connect different industry leaders who all represent the need for big data talent and analytical analysis.
These industries include in education, Ryerson University, Dalhousie University, Concordia University and Simon Fraser University. In industry, Deloitte, TMX Group, the Information Technology Association of Canada, and SAS Canada. Industry Canada is also part of the Consortium representing the government of Canada. This group will come together to discuss strategic solutions to the findings of the survey. The ideas will be made public and facilitate conversations across industries to bridge the gap and benefit innovation within organizations.