Event: Irish businesses urged to embrace data analytics

Saturday, 18 April 2015

Irish businesses urged to embrace data analytics

Potentially 21,000 jobs could be created in the data analytics sector in the next four years according to Una Halligan, Chairperson, Expert Group on Future Skills Need. Ms.Halligan, speaking at the CIMA organised Chartered Global Management Accountants conference on “Big Data”, said the roles would arise through a combination of expansion and replacement demand. Specifically she identified three key areas of opportunity; deep analytical talent (3,600); big data “savvy” roles (17,500) and supporting technology Roles (8,800).

Held by CIMA Ireland in partnership with CIT, and sponsored by IT multinational EMC, the CGMA conference considered the conclusions of two recently published CGMA reports on preparing for, and the impact of, big data from the perspective of Irish business and financial services.

Conference chair Bob Savage, Vice President and Managing Director of EMC Centres of Excellence EMEA, said: “Ireland is a major global tech hub, with a healthy ecosystem of multinational companies and government support for big data initiatives. Now more than ever for Irish businesses, having a data analytics strategy is vital to success in the global digital economy. There are huge benefits in adopting data analytics, like granular insight into consumer behaviour and in-depth analysis of market trends. Having that additional information brings a real competitive edge to a business.”

Dr Aisling O’Driscoll, CIT, said: “Each year, billions of gigabytes of data are generated globally, an amount so large that it would require several hundred million desktop computers to store. Thanks to incredible advances in data science, we can capture, store and analyse this information to provide value in the real world. In Ireland, and indeed in Cork, there are myriad opportunities for businesses to take advantage of their collected data to increase efficiency, productivity and profit.”

Peter Simon, Author of the CGMA big data reports, said: “Relentless advances in technology continue to drive new ways of doing business. So far, such advances have improved the prospects for Irish businesses and for those with higher level skills. However, the next wave may be different. With big data at its crest, it holds the potential to change how business opportunities are identified and how business decisions are made. CIMA has therefore identified the knowledge and skills which will create careers for finance professionals, including management accountants.”







Image Credit: Provision

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