Rising demand for big data analytics skills triggers wage debate

First Institute of Analytics Professionals of Australia report into skills and salary around data analytics shows data scientists must stay close to the needs of the business if they wish to retain their high-paying roles

Strong demand for data analytics skills is pushing up wages for qualified professionals and turning big data into a big pay for data analysts.

This was the key finding of the inaugural 2013 Skills and Salary Survey Report published by the Institute of Analytics Professionals of Australia (IAPA), which showed the median salary for an analytics professional was almost twice the median Australian full-time salary.

But the good news also came with a warning that data analysts must stay close to the needs of the business they serve if they wish to retain their high-paying roles into the future.

According to IAPA’ chairman, and director for insight solutions at Deloitte, Doug Campbell, some organisations are already responding to the wages pressure by setting up data analytics teams in lower-wage economies.

“The challenge for the analytics professionals in Australia, to maintain that high monetary reward, is they have to stay close to the value,” Campbell said. “And that is not the actual algorithm, it is the operationalisation of the algorithm, and getting the outputs into business processes and transactional systems.”

Campbell said the best analysts, and those who progressed from practice to general management, were those that could work with the business to determine what analytics were required to make or save money.

“The advice to our membership is, to avoid the labour arbitrage situation, you’ve really got to get close to the business process, and that is the way to differentiate,” Campbell said.

Campbell said education institutions, including Deakin University, the University of Technology Sydney and the University of South Australia, were responding to the demand for analytics professionals by putting on new courses.

The IAPA survey investigated the attitudes, activities and remuneration of Australia’s data analytics professionals, and found a clear trend that demand for analytics skills was driving wages upwards.

“The majority of people who responded have had pay rises over the last few years, whereas in other roles that has been harder to come by,” Campbell said. “The salary, when compared to the average Australian, is obviously significant.”

The rising demand for analytics professionals was reflected in IAPA’s membership, which has grown to more than 3500 members in Australia since its formation in 2006. Campbell suggested a big driver in jobs and salary growth has been the increased pervasiveness of digital technologies across a broader range of organisations.

“The barriers to commence have slipped away due to digital, so digital is the catalyst for the need for a lot of analytics skills across many use cases and many domains,” Campbell said. “And digital leaves a huge data trail that can be analysed to understand behaviours within the digital channel, and across channels.”

Big data analytics: The new black magic of marketing?
Using big data analytics to power customer lifetime value
What makes a data scientist?

Campbell said there was also a trend for professionals to move from traditional analytics employers such as banks to a broader range of organisations, including pure digital organisations.

“It is interesting to see people being pulled from well-paid tier one banks into less well-known digital organisations, but obviously it is a career challenge for those people to work in a digital domain,” Campbell said. “Because if you have skills in conducting analysis in the digital environment you are going to be even more in demand in the future.”

The IAPA survey will be repeated in the coming years to provide annual comparisons.

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

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

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Blog Posts

The rise and rise of voice search

In 1982, an AT&T employee by the name of Plotzke predicted the rise of voice: “In fact, it has been predicted that, by 1990, well over half the communications dollars spent by businesses will be for products and services that include voice technologies.

Michael Jenkins

Founder and director, Shout agency

Is design thinking the answer for the next generation of marketing?

The speed and pace of change will never be slower than we’re experiencing today. So in this era of unprecedented change, how can brands meet soaring consumer expectations, stay relevant and deliver differentiated and connected experiences?

Merryn Olifent

Senior consultant, G2 Innovation

Why it’s time to ditch the 4Ps and embrace the 4Cs of modern marketing purpose

There is a very simple and fascinating experiment you can conduct in your own organisation: Ask 10 of your colleagues to define ‘marketing’. I can guarantee 10 widely varying definitions.

Ric Navarro

Global director of marketing and communications, Norman, Disney & Young

There are lots of software tools available online that can do what you are asking about and also trace the location of a cell phone and e...

Curtis Bacchus

CMO's top 10 martech stories for the week - 9 August 2018

Read more

Love the counter intuitive StubHub example!

Rishi Rawat

Yale University says you’re missing this marketing advantage

Read more

atch Every NFL game live streaming in HD TV go here >>>>fwcrussiatv .blogspot

Ethel Parkinson

Latest Hays jobs report show widespread gaps in marketing and digital skills

Read more

if you want to wach nfl nive steaming free go there >>>sportsliveinfo .com

Ethel Parkinson

Just over 2 weeks left to get those CMO50 submissions in!

Read more

we see that NFL has startedand it is really very enjoyable game. I have a simple andtrusted way ... here is the way..>>fwcrussiatv ...

Ethel Parkinson

Industry welcomes new integrated TV viewing database

Read more

Latest Podcast

More podcasts

Sign in