May 3 News Roundup: Data Analytic Skills Demand Continues to Rise

 Twice a month, we bring you the headlines from around the industry to keep you informed of the latest trends and conversations. Whether you are in IT, finance, sales or marketing, we are your go-to source for how the intersection of predictive analytics, machine learning and AI is transforming how businesses operate.

Demand is rising for data analytic skills/experience as companies are expanding predictive analytics and data science teams. 

As our world becomes increasingly technology and data driven, the need for professionals with experience in data analytics continues to grow. Almost 90% of analytics and data science teams are planning to expand, an increase from 84.3% in 2016. Consulting firms are expanding analytics teams the most aggressively, followed by technology, telecom and gaming companies. Read more here.

Health and life insurance companies slow to adopt predictive analytics.

While we have seen industries like retail, manufacturing and consumer goods lead the predictive analytics fan club, it seems that the insurance industry is still not sold. According to Information Management, only 22% of insurance companies are currently using predictive analytics and 46% having no plans to implement it within the next two years. To find out the most significant roadblock the insurance industry faces, read the article here.

Running a large supply chain without advanced analytics is a recipe for disaster.

As your supply chain grows, you will need the ability to build predictive models unique to your business in order to examine large sets of (un)structured data and acquire deep insights, make predictions and produce actionable recommendations. The supply chain is quickly outgrowing the analytic technology that comes embedded in supply chain software, meaning manufacturers will need to invest in a predictive analytic solution. More here.

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