Is Big Data Training Really Important? Hottest Sectors in Big Data

Big data has gained relevance in recent years, where technological capabilities have forged a greater scope for analysis. Companies have long been able to collect vast quantities of data, but today’s technology can convert this information into knowledge. This level of analysis can help businesses use big data to great effect. But technology alone isn’t enough. In fact, organizations need highly-qualified staff to analyze the vast swathes of data available. Educating staff sufficiently begins with brilliant onboarding, but it’s important to promote a continuous development philosophy where learning never stops. Staff are always learning, and should be encouraged to do so. Computers can do a lot, but the intellectual capacity of human beings can not be underrated. Companies need individuals who can make contextual, real-life sense of information. When used properly, this data can transform various business processes, and be used to drive better decision making.

How Important is Big Data Training?

A company’s performance is defined by its decision making prowess. This is a key differentiator, which can secure a competitive advantage in multiple contexts. Today’s companies utilize modern tools to make sense of big data. This requires niche expertise, which can be attained through big data training. This has created multiple job opportunities in fields like analysis, computer science, and mathematics. Despite this, organizations are struggling to fill big data roles due to a shortage of experts in the field. That’s why big data training is so important. Companies can benefit from training staff internally, alongside sending them on courses to master their art. There are academic routes into big data too, but nothing beats a combination of practical experience and theory. Big data is used across multiple industries, facilitated by the emerging presence of big data technologies. Big data talent has become scarce as a result, creating competition and an increasing need for big data training. Sectors like social media, retail and ecommerce are leading the charge, alongside finance, telecommunications, consultancy, online travel, and gaming. Experts need a combination of statistical and analytical skills, alongside computer programming. If you’re interested in taking a leap of faith into a rising profession, you must take a plunge into big data training. To help you make a well-informed decision on whether it’s a field that suits your aspirations, here are some of the most relevant sectors in the field:

Finance Services

This industry is commonly associated with big data, where there are thousands, if not millions of records generated on a daily basis. Adding context to information is a critical skill, one which can be learned with big data training. As technology advances, information is continuously added to what’s already a minefield of data. This can be a lot to get your head around, but with expertise you can tackle the challenges that come with it. Embracing digitalization has enabled companies to perform cost effective analysis. It can be difficult and time consuming in the setup stages, especially when there’s a talent disparity organization-wide. Though there are cloud-based solutions available, financial institutions hesitate at the thought due to privacy concerns. Security is of utmost importance in the financial sector, not to mention the complexity of the content in question. This sector is a forerunner for big data, so companies are increasing their efforts to get the right staff on board. Otherwise, companies are at risk of getting left in the dirt of competitors. Companies are enhancing their big data training initiatives, alongside ensuring they get the best talent possible for a role which presents unique challenges.

Retail & ECommerce

This sector is drawing information from online and offline data sources. They’re on an increasing mission to derive business benefits from data, which can be leveraged to better understand the behavioral traits of shoppers. Some businesses use algorithms to establish recommendations based on previous purchase history. Beyond this, retailers continuously seek new sources of social, geotracking, and web browsing data. Collectively, these new methods can facilitate the customer segmentation process. Through big data training, experts can use big data to form product recommendations for customers. This is a mutually beneficial arrangement, where consumers learn of products they like, and companies market the right products to the right people. As you’d imagine, this will increase a company’s bottom line. Big data professionals are highly sought after, and are often cultivated internally. They’re ultimately big data experts with business and statistical knowledge. They help companies derive business value, a key motivation for nurturing the right talent.

Telecommunications

Data growth is rife across the telecommunications sector. This has been driven by the adoption of smartphone use, which has transcended business as we know it. This has in turn created an overwhelming demand for social media and mobile networks, changing both consumer and business habits significantly. Telecommunication firms are addressing big data challenges on a near daily basis. Those who can tackle these effectively are positioned to receive a greater market share, a competitive advantage, and increased profit margins. With big data, companies can reach critical business objectives, and most importantly offer better customer service. The combination of internal and external data helps companies develop innovative strategies, creating advanced customer profiles which can be used to cater to the individual needs of consumers. Companies are transitioning to database management systems like NoSQL and Hadoop, which help big data experts manage information. When trained correctly, they can tell compelling customer stories by working with databases.