Big Data Salary Guide & Market Overview

Posted by Walid Abou-Halloun Date: Apr 25, 2018 10:00:51 AM

A booming industry with global revenues expected to rocket to $203 billion in 2020, big data has evolved into a core driver of businesses today.

In every important decision, there has to be a set of data that supports it. Before any business move, raw data must be analysed and turned into actionable insights to achieve targeted results.

In fact, according to a study by the Harvard Business Review and the MIT Center for Digital Business, the more businesses characterised themselves as data-driven, the better they performed on measures of financial and operational success.

What does this mean to you and your business? How do you maximise data to achieve optimised results?

Big Data Across Industries

Big data does not discriminate—it goes across many industries. It is in retail, manufacturing, finance, agriculture, transportation, and healthcare, among others. From the most traditional to the most advanced like artificial intelligence (AI), big data is present.

With its wide reach, it has undoubtedly evolved into an important and non-negotiable element in every business. This is due to trends in the industry that are changing how businesses engage with these data segments.

The Australian market alone is estimated to increase by 13.4%—securing its spot as a leading data hub.

Now how do organisations respond to this huge development? It all boils down to one simple fact: whichever industry you are in, you need highly skilled data professionals.

Big Data Recruitment

With a projected growth of 7.3% this year globally, big data is becoming the most in-demand skillset today.

This surge now leads us to a few questions: Can data professionals keep up with the demand? How can they stand out and be job-ready

As businesses grow to become more data-driven, the demand for talent also increases.

And it goes beyond just numbers. Data visualisation plays an important role in the whole process, as it makes all the numbers much easier to be understood and digested especially for non-data experts. For top management, this is crucial in making changes and important decisions for the company.

Of course, if you need big data, you also need big data security. With the various government regulations and policies on data privacy today, one simply cannot afford to operate without a data security system in place.

These skillsets alone branch out to many more roles that require in-depth knowledge of the job, paving the way to higher demand for IT professionals with big data expertise.

IBM, which is a market leader in all segments of the industry, predicted that demand for data scientists will leap to 28% by 2020, with the highest demand in ﬁnance, insurance, professional services, and, of course, IT.

However, the same reports also state that data science, big data, and machine learning are among the most difﬁcult to recruit for, which can result in major disruptions to product development while your company attempts to ﬁll the position.

Big Data is the Future

The ultimate goal of data is to improve customer experience in order to do better business in the years to come.

Aligning your business strategy with your data strategy allows you to keep your business focused on what matters: the customers.

How do you optimise these inputs to achieve long-term benefits for your company? What does the future hold for big data?

Find out the answers and more in our Big Data Salary Guide & Market Overview. Download it now for expert insights on:

Big Data Technology Space. Learn more about the current state of the global market, the newest hiring trends, and the future of big data in this fast-paced and dynamic industry.
Approaching Big Data in 2018. Go big or go home! Find smarter ways to use data for both your business or your career—whichever end of the spectrum you are in.
Data Security and Issues. Big data, big problem? Discover the data security threats you should be on the lookout for and how to resolve the issues surrounding them.
Building a Better Data Team. What key roles and skills will be required in data professionals? How are businesses responding to this demand? Find out the answers and more!