The need for managers with data-analytic skills The…
““The need for managers with data-analytic skills The consulting firm McKinsey and Company estimates that “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 140,000 to 190,000 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.” (Manyika, 2011). Why 10 times as many managers and analysts than those with deep analytical skills? Surely data scientists aren’t so difficult to manage that they need 10 managers! The reason is that a business can get leverage from a data science team for making better decisions in multiple areas of the business. However, as McKinsey is pointing out, the managers in those areas need to understand the fundamentals of data science to effectively get that leverage.””
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
Organizations need managers who understand data analytics to leverage data science teams for better decisions across business functions.
In simple terms: Managers must grasp data basics to use data science effectively.
Key Takeaway
Learn data fundamentals.
Themes
business strategy
data literacy
talent shortage
Mood
informative
analytical
Type
Business:1
Data science:1
Management:1
Shortage Talent:1
Million Managers:1
Managers Analysts:1
Need Managers:1
Mckinsey Company:1
When to use this quote
- corporate training
- HR planning
- strategic hiring
Key Concepts
data analytics
decision making
skill gaps
Questions to Reflect On
- How can firms upskill managers quickly?
- What incentives encourage data learning?
A Different Perspective
Managerial data literacy may lag behind technical talent.