Why data analysis is the hottest skill recruiters are looking for

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In a recent Quess hiring trends report, data analysis topped the list of the top five digital skills in demand. It is also in the list of the top three skills recruiters in IT companies are looking for, according to a TeamLease report.

While there seems to be a slight slowdown in hiring in the tech market, there is one digital skill that multiple surveys have shown is the most in-demand — data analytics. A LinkedIn search for data analyst jobs as of the afternoon of August 5 returned more than 15,700 open positions.

“Data is the new oil and everything we do today consumes data. This data can be presented as information and then used as insights to support better decision making,” said Vijay Sivaram, CEO, Quess IT Staffing. According to him, in the days to , every business needs to ensure their data structures and data lakes are in place, and therefore they need to have the right resources to make that happen.

In a recent Quess hiring trends report, data analysis topped the list of the top five digital skills in demand. It was also included in the list of the top three skills IT company recruiters are looking for, according to a TeamLease report titled “Uncovering Digital Talent in Emerging Locations.”

Recent results from a survey by edtech platform Imarticus Learning suggest that 70 percent of young professionals aspire to upskill themselves with modern digital skills and courses in finance and data science — an umbrella term for a group of fields accustomed to mining at large Records – are most in demand.

Why is there a massive demand for data analysts?

Neeti Sharma, President and Co-Founder of TeamLease EdTech Limited says that data analysis helps companies predict market behavior, understand the strengths and weaknesses of their competition and also helps optimize overall business strategy. Big data analytics are also useful for predicting customer behavior and understanding what drives them, she said.

“With the increased need for data analytics, the demand for talent in this space has also increased. Our latest report shows that data analytics roles are expected to grow 6-10 percent in the coming year, while data science roles are expected to grow 4-6 percent,” she told CNBCTV18.com.

Are there enough data analysts available in the job market?

According to Sharma, the rise of big data has created an urgent need for skilled data analysts. The position is also in high demand because qualified candidates are rare. With the advent of the metaverse, the impact and role of data analytics becomes even more important.

Parag Ghatpande, Director, Human Capital Solutions, India, Aon pointed out that India has 103 unicorns and that more than 50 early-stage organizations are poised to become unicorns in the next two years. These early-stage organizations are attracting the best talent in digital and data literacy, leading to a war for talent, he said.

This war for digital talent continues, with 27 percent average turnover for niche skills resulting in the largest demand-supply gap seen in cloud development, full-stack development, cloud architecture, and data analytics skills.

Can freshman get jobs as a data analyst and how to acquire the skills?

Data analyst jobs are not just limited to the private sector, there are also several public sector employers who want to employ data analysts.

According to Aon’s Ghatpande, organizations are designing a framework to assess the current skills gap and continue to use targeted learning interventions for specific talent to enhance their skills and deploy them in projects that require proof of skills to be successful.

He explained that in the field of data analytics, the key professional roles include data analyst, business analyst, big data architect, and decision scientist. These require knowledge of statistical hypothesis testing, statistics, chi-square testing, correlation/regression analysis, classification & clustering, and neural networks.

The roles and job opportunities are mostly in the entry- and intermediate-level range, and freshmen can try to learn these digital skills and take up internship projects in companies in different sectors, he said.

Meanwhile, Quess IT Staffing’s Sivaram said most engineering curricula now include an introductory data analysis course that gives freshmen a basic understanding of the domain. Technical skills for specific tools can be acquired through advanced curriculums, self-paced sessions, or corporate training programs, he said.

As for education, he said most data analysis tools offer their own virtual courses for professionals to attend. There are also a variety of online platforms such as 3ai, MOOCs and offline centers that offer qualification programs in the field of data analysis, he added.

Sharma, co-founder of TeamLease EdTech, also emphasized that in addition to the IT sector, which employs about 43 percent of data analysts, data analysts are also in demand in retail and trade, BFSI, government, and banking and finance.

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