IAPA: Analytics skills are hard and costly to find

New survey from the Institute of Analytics Professionals Australia shows disconnect between analytics teams and rest of the business

Analytics specialists are proving both costly and hard to find in Australia, according to a new survey report from the Institute of Analytics Professionals Australia (IAPA).

The second annual 2014 Skills and Salary Survey report of nearly 500 Australians working with data found nearly 90 per cent are finding it either as hard or harder to recruit analysts this year compared to last year.

The report also showed analytics professionals are earning almost twice the median Australian salary at an average $125,000 annually, up 14 per cent year-on-year. This was based on median salaries of $72,000-$75,000 for those who have worked for up to three years, and $152,000-$194,000 for those working for 14 to 16 years.

Seventy per cent of respondents said they had seen their salary increase over the last three years. In addition, those analysing social media and social network data are earning a whopping 50 per cent more than the average respondent’s salary, with a median wage of $190,000, IAPA said.

These big salaries were despite the fact that 60 per cent of hiring managers still find applicants to be underskilled.

“Analytics is becoming a career magnet,” IAPA chairman, Doug Campbell, said in response to the findings. “The report shows that respondents are moving into the field from other disciplines, evidence that analytics is emerging as an attractive career option.”

8 tips for data analytics success from Data Strategy Symposium

This year’s report included new segmentation analysis designed to better understand the types of professionals working with data. The four categories of professional were: Data scientists (24 per cent), BI and visualisation focused (35 per cent), traditional analysts (30 per cent) and analytical integrators (11 per cent).

Those tagged ‘data science professionals’ were found to have a distinct range of skills, including being more multi-skilled, more technical and more adept at using change management, persuasion, business case development and communication skills compared to their data peers. They also represented the highest median salary of between $130,000 and $138,000.

Read more: IAPA and ADMA form alliance

Across the board, 43 percent of respondents said keeping skills up to date was both the biggest challenge professionally, as well as their biggest interest. Three-quarters were interested in further non-degree training, and 40 per cent were pursuing degree-based learning.

But there remains a gap between the work analysts are doing, and how businesses are utilising the intelligence and insights provided.

As well as citing timely access to high-quality data (40 per cent) as a key challenge, convincing their company of the value of analytics (39 per cent) was the third-biggest hurdle for analytics teams, followed by getting the company to act on insights (38 per cent).

“There is a disconnect between what companies say they want and what’s actually happening,” said the report’s author, Evan Stubbs, chief analytics officer at SAS.

“Everyone wants answers and yet analysts struggle to get people to act on those answers. It’s this ‘decision inertia’ that respondents seem most frustrated with.”

Stubbs called on business leaders to improve the use of evidence from analytics to better guide decision-making, and marry insight and experience.

“Analytics professionals need to directly link their efforts to business priorities and communicate insights in ways that are easily assimilated and understood by business decision-makers,” Campbell added.

The research also looked into where analytics sits across organisations and found main areas included marketing, advisory/consulting, and shared services business intelligence and insights teams. However, the list of functions survey respondents came from was a broad one and also included credit risk, data warehousing, sales, research/development and product management.

Follow CMO on Twitter: @CMOAustralia, take part in the CMO Australia conversation on LinkedIn: CMO Australia, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+: google.com/+CmoAu

Signup to CMO’s email newsletter to receive your weekly dose of targeted content for the modern marketing chief.

Join the CMO newsletter!

Error: Please check your email address.
Show Comments

Supporting Association

Blog Posts

People in vegan houses shouldn't throw bacon

Picture this. You’re at a Gourmerican burger joint chomping a cheeseburger, when an outspoken vegan friend starts preaching that you’re killing the planet. Last week, that same vegan downed a pricey glass of pinot before their flight to a far-flung destination, armed with their strongest mossie repellant and first aid kit. Anything amiss?

Abbie Love

Strategist, Ikon Communications

The role of the CMO is evolving: Are you keeping up?

My (amazing) vacation in the Galapagos Islands earlier in the year got me thinking about Charles Darwin and his theory of evolution. What does this have to do with the role of today’s CMO, you ask? Plenty.

Sheryl Pattek

Vice-president, executive partner

Getting your business ready for the Entrepreneurial Consumer

We all know the digital revolution has completely transformed the way consumers are interacting with brands, and that a lot of businesses are finding it hard to catch up. One way to closing this brand gap is to understand consumer behaviour and build a brand experience that meets these new needs.

Pip Stocks

CEO and founder, BrandHook

Or just go to sites like www.shopsthatshiptoaustralia.c... and others and be sure that the stores will send to where you live :-)


Why online shopping is like dating – RedBalloon CEO

Read more

Personalisation is the key. Customers demand a very relatable and well defined CX where the sincerity and understanding of their disposit...

Hitesh Parekh

In pictures: Improving cutomer experiences through smart personalisation

Read more

Thanks for this. The key for me is the effective of governance where it dictates and sets the proactive policy when it comes to CX. Tech ...

Hitesh Parekh

6 lessons in modern marketing from a customer experience chief

Read more

Very well said “With today’s consumers more demanding of the brands and merchants they shop, it’s imperative for merchants to not just co...


CMO's top 10 martech stories for this week - 29 September

Read more

Very interesting article which touches on the importance of a feedback loop fuelled by customer and market insights. Ideally this scenari...

Andrew Reid

Building customer insights in the data and digital age

Read more

Latest Podcast

More podcasts

Sign in