With the economy continually shifting and technology models evolving, todays enterprise is forced to become smarter and more nimble in the way it gathers, analyzes and utilizes its valuable data.Many organizations have a wealth of data residing in their databases, and generate additional valuable data that is often not captured. Business Analytics (BA) and Business Intelligence (BI) is the process of collecting and turning this resource into business value. Most companies understand the potential benefits of BI and business analytics, but few know how to leverage business information for more informed decision making and better performance.
There will be a shortage of talent necessary for organizations to take advantage of big data. By 2018, the United States alone could face a shortage of 1,40,000 to 1,90,000 people with deep analytical skills as well as 1.5 million managers and analysts with the know-how to use the analysis of big data to make effective decisions.
- McKinsey Global Institute