Australian companies are paying top dollar for analytics professionals, particularly those with big data and cloud analytics skills, but fewer are cycling the insights back into the business, according to the Institute of Analytics Professionals of Australia (IAPA) Skills and Salary Survey.
In its third annual report, it found the median salary for all analytics professionals is $130,000, a boost of 4% year on year while for those with big data and cloud analytics, it is $200,000.
But 37% of respondents believe that the company they worked for was either “not really” or “not at all” getting the benefit from their skills.
Association for Data-driven Marketing (ADMA) CEO Jodie Sangster told AdNews the industry is currently in flux when it comes to the use of analytics in business, but sees it becoming more of a focus next year.
“At the moment we're in a transition stage and that's where the disconnect is,” Sangster said.
“Businesses are willing to pay for these things but they haven't got the processes and procedures to make sure that insight is acted upon.
“That's the change I think we'll see in the coming year, the switch from what we're investing because we know we have to, to we're going to use the data to drive business outcomes.”
The survey also found that there is a broader trend for analytics professionals to acquire broader business skills.
Analytics professionals sighted big data skills (at 55%) and business leadership and management skills (at 48%) as the top two skills needed for success in the industry in the next 12 months.
Sangster said analytics professionals exist in the market, but ones that also have skills in business and soft skills – the trifecta – are rare, as evidenced by their high pay packets.
“That needs to be addressed going forward and it absolutely can be because it's a training issue,” Sanster said.
“There hasn't previously been a need for soft skills for analytics professionals because you've got a very clear role, but that role has changed.
“They can't just sit there and crunch numbers any more; that's not the job. The job is to find those insights and be able to translate them into business insights that can be acted upon.”
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