According to a study released by International Business Machines Corp. (IBM) last week, the world is generating an estimated 15 petabytes of new data every day — roughly eight times the data stored in all academic libraries in the U.S. Not surprisingly, companies across all industries are beginning to invest more in data analytics with 26% of businesses globally projecting an investment increase of 10% or more in the science.
Of the four key growth areas of Information and Communications Technology (ICT) (analytics, mobile technology, cloud computing and social business), analytics has seen the highest level of adoption.
The problem is there aren’t enough data analytics experts to go around in Canada. The IBM study showed only one in 10 organizations globally has the data analytics skills it needs while 75% of students and educators report a moderate to major gap in their ability to meet the demands of the market. (On a percentage basis, Canada’s numbers are comparable with the global numbers.)