Companies across every sector from professional services to retail are seeking out specialised data analysis retraining for in-house accountants and other key staff. Notably, they’re turning to the Analytics Institute of Ireland (AII), which is based in Fitzwilliam Square, Dublin.
The institute has plans to launch a branch in Cork, where demand is also soaring. It is offering a series of targeted certified courses such as its Management Diploma in Data Analytics, Certified Data Scientist, and Certified Data Engineer.
Some 550 industry leaders from a wide range of sectors attended this week’s National Analytics Conference, which the Analytics Institute hosted in Dublin’s Mansion House. The institute had to turn down people seeking to attend. A small event a few years back, next year they’ll be needing a bigger boat.
“We had to shut the event a few weeks before we went live,” said Lorcan Malone, CEO of AII. “Salaries are surging, people are telling us they can’t find the talent they need. There is far more demand than supply.
“I believe we are looking at a five-year window before the colleges can catch up. And, of course, it takes time for students to become fully effective in the workplace. That’s why we’ve launched an online professional certification, working with different companies who are helping us to define our courses in line with their needs.”
Support level data analysts are earning over €35,000 on average, quickly rising to €48,000 for a data analytics practitioner, €53,000 for a consultant practitioner, €80,000 for a data analytics manager, and up to €100k to €200k for team leader and director roles.
Why are they in such demand? Why has data mining suddenly become so essential to the successful running of a business? The key benefits from analytics being sought by companies are deeper insights, the ability to react quicker to changing market dynamics, and to increase customer satisfaction and retention.
Those were among the key findings of the first National Analytics Maturity Report, conducted by the Analytics Institute and UCD Smurfit Graduate Business School and backed by EY Ireland.
Companies are using data to gain a better understanding of their customers and their opportunities. Data analytics also covers areas such as GDPR and data privacy, the veracity of data, real time analytics, machine learning and AI, and the emergence of new data sources.
Right now, new technologies such as robotic process automation, blockchain and quantum computing are less impactful for most organisations. The study primarily focused on Ireland’s top 100 organisations.
