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The Next Generation of Data Analysts

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our consultant managing the role

Author: Jason Do Nguyen

Posting date: 6/28/2018 1:48 PM

From coast to coast, a new breed of data analyst rises. No longer siloed and pigeon-holed into one specific area or another, today’s professional must be able to nuance actionable insights for better business predictions and performance. The evolving role of data analyst marries technical prowess and analytical skills with the soft skills of coaching and communication.

Every organization from AdTech to FinTech to the Food and Beverage Industries, and every industry in between, depends on data. In fact, by 2020, IBM estimates the number of open positions in the U.S. for data professionals will increase to 2.7 million. Yet, the surge and the shortfall in analytics talent remains as data analyst recruitment efforts rise to the challenge.

Broaden Your SkillSet

With high demand and short supply comes the opportunity to go beyond your comfort zone and expand your skillset. Add to that companies that may not have the budgets to cover their recruitment efforts and the data analyst skillset must expand to meet the demand. From technical to soft skills, below are a few things to keep in mind when crafting your resume or CV:

Don’t shed the basics of analytical mainstays such as Excel, SQL, and SAS; enhance them with languages such as R and Python. Want to boost your chances to the top of the pile? Don’t forget next generation tools and platforms like Tableau, Domo, Adobe Analytics, and/or Snowplow.
Be specific: Companies will be more interested in interviewing you if you can clearly outline why/what you have used different technology for.
Keep this punchy, concise, and outline your in-put with said technologies.
Outline projects you’ve worked on.
Become a storyteller – communicate key insights more effectively with the power of data, visualization, and narrative. The ability to tell a story with data can translate across business functions and departments for a unified predictive or prescriptive analysis for more impact.
Offer actionable Insights - put the power of actionable insights into decision makers’ hands with real life application explanations.
Steward data responsibly. Data governance is now business critical and the new data analyst must be able to act with fiduciary responsibility to ensure data privacy. Data must be protected, standards must be followed, and trust must be maintained

I, Meet Robot

The blending of the physical and digital worlds through AI, Machine Learning, and IoT remain the frontrunners in technology through 2020. According to McKinsey’s Report Ten IT-enabled Business Trends for the Decade Ahead, the latest technologies shaping the current business world include automated knowledge work, the mobile platform, and the Cloud. Skillsets and experience within these three technologies are the next wave in the modern digital world and it’s the new breed of data analyst who can best rise to the challenge to fill the gaps.

Not only will these three technologies make an impact, but the impetus of social platforms and their data will be a powerful contribution to business outcomes. This melding of the physical and digital worlds allows businesses to understand and implement the collected data in scenarios in real-time driving them forward to better reward.

Your Turn

In this section, we ask our candidates and clients what we as recruiters can do to help you find the perfect fit. This is your chance to answer and ask questions as well as get creative in helping us improve our efforts in data analyst recruitment. Below are a few questions to get you started.

What kind of cross-training programs might businesses and schools employ for future Data Analysts?
What other backgrounds are we overlooking in our quest to for the next generation of data analyst as businesses seek to find and engage this most critical role within their data teams?
What can we, as recruiters do to engage qualified candidates ready for their next role in the world of data and analytics?

If you’re a data analyst ready to spread your wings, we may have a role for you, check out our current vacancies or contact us to learn more.

For the East Coast and Mid-West teams please call 212-796-6070, or email newyorkinfo@harnham.com.

For the West Coast team call 415-614-4999 or email sanfraninfo@harnham.com.

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With over 10 years experience working solely in the Data & Analytics sector our consultants are able to offer detailed insights into the industry.

Visit our Blogs & News portal or check out our recent posts below.

When Pigs Fly or How Animal Organs Can Help Save Human Lives

Boston, Massachusetts is once again on the cutting edge of medical research and technology. From Electronic Health Records (EHR) to Machine Learning and predictive modeling of healthcare best practices to Computational Biology; the final frontier of genetic editing. We have come a long way in our quest to understand and improve our quality of life. In the face of cancer research, diabetes, and liver or heart failure, the world of Computational Biology opens the scientific doors to discovery and solution. This is a place for scientists to not only get to the heart of the matter, but to the core of the problem at the cellular level. There is an old adage which states, “when pigs fly”, usually meaning some thing will never happen or is impossible. But what happens when the impossible becomes possible? The jury’s still out, but researchers are making great inroads in developing ways to save human lives using animal organs. Could Animal Organs Help Solve Donor Deficiency? There are over 100,000 patients in the U.S. waiting for a transplant operation and, for many, a this may be their only cure. Yet, our growing population and the sheer number of those waiting has created a donor deficiency of epic proportions. Researchers have been working toward successfully transplanting organs from animals into humans. Not only has their study of stem cell technology grown over the years, but with the advent of bioinformatics, statistics, and Computational Biology, a new possibility has arisen. The chance to not only transplant organs from one species to another, but using another species to host the growing of transplantable human tissue. Getting the Framework Right Computational Biology is a broad discipline honed to a fine point. Using statistical modelling, it builds a wide variety of experimental Data and biological systems to understand algorithmics, Machine Learning, automation, and robotics. Its job is to ask and answer the question of how to efficiently gather, collate, annotate, search for information. But how can it do all this to determine appropriate biological measurements and observations? At the tipping point is the notion that to truly get a good picture of the problem, the frame must be in focus. And it is this, which is the most important task for Computational Biologists to solve before continuing their research. It’s a reminder to step back and look at the problem from another angle and to challenge assumptions turning “what if” on its head. Stretching, bending, and twisting toward a solution that might not otherwise have been thought without a framework in place in order to begin modelling the system. It is in this constant learning phase, Machine Learning applications with parameters set by the biologists, in which new information is processed, analyzed, and understood. This active learning model offers opportunities for applications to learn how to learn and will play a critical role in biomedical research now and in the future. And from this place, the second biggest problem to be solved enters the equation. Now, it’s time to refine the methods of how to solve the problem. Next Steps As exciting as the possibilities are, like all things new, there are challenges. For example, not all animals will fit the bill for transplantation. The idea is to mimic as closely as possible the size and evolution of humans such as pig, sheep, or non-human primates. But, at an even finer point of challenge are our own cell’s reactions and expressions and understanding why they act the way they do. Ultimately, it’s important to be sure information at the individual cell level is inferred with statistical references to verify findings. At the pixel level, not using a fine-tooth comb could mean your conclusions are wrong. If you’re interested in Biostatistics, Bioinformatics, Computational Biology, Big Data & Analytics, we may have a role for you. We specialize in junior and senior roles. Check out our latest Computational Biology opportunities in our new Life Science Analytics specialism or our current vacancies for additional opportunities. Contact one of our recruitment consultants to learn more. For our West Coast Team, call (415) 614 - 4999 or send an email to sanfraninfo@harnham.com. For our Mid-West and East Coast Teams, call (212) 796 - 6070 or send an email to newyorkinfo@harnham.com.

by Alyssa Liew

13. February 2019

Finance, Risk & Pricing: The Actuarial Analyst

Just because pricing deals with numbers, it doesn’t mean it’s exclusive to the financial sector. In our last few posts, we focused heavily on the role of Pricing Analyst, what it is and how to get there. This type of analyst role is more often found in the marketing arm of many companies and might also be known as Behavior Analyst, Customer Analyst, or something similar. However, there is another type of analyst sometimes confused with Pricing Analyst which falls squarely within the Finance sector. These roles might boast titles such as Risk Analyst, Financial Analyst, or Actuary. Often, it isn’t the title that speaks to the particular strengths of one type of role over another; it is the responsibilities and skill sets documented within the job description. Like Pricing Analysts, these professionals deal with numbers and pricing. However, their focus is on models, such as those required for mergers and acquisitions or how to set health insurance premiums looking at risk. Looking for a Low to No-Risk Gig? Actuaries are in high demand. As a profession, it is one of the most diverse and tends to be more open to women and under-represented minorities. Though the focus is often on insurance and pension programs, Actuaries can find work in a number of industries including consulting firms, hospitals, banks, investment firms, and government. As advisors who manage risk portfolios while analyzing historic and current data, these professionals are business-minded people with a mathematical basis. Using mathematics, statistics, and financial theory, they analyze the financial consequences of risk. The Masonic-esque Levels of Becoming an Actuary For individuals who are numbers focused and are interested in using their data, technical, and mathematical skills coupled with business acumen; the role of Actuary might be the perfect fit. However, there are steps or levels which need to follow to enter the profession. These are exam-based and work-experience levels and your salary increase incrementally with each step. To begin, a graduate with a high GPA and one exam under their belt may find the role quite lucrative. Each exam leads to the next level and enters you into an Actuarial Society. Depending on where and what you want to practice will determine which society you’ll sit the exam: Society of Actuaries (SOA) – focus is life and health insurance, pensions, and employee benefits. Casualty Actuarial Society (CAS) – focus is automobile, fire, and liability insurance as well as worker’s compensation. American Society of Pension Actuaries (ASPA) – focus is those in the pension field, particularly in relation to federal and state governments. Each organization has its own exams and competition is fierce. Qualities sought beyond a high GPA and actuarial exam include: Good communication skills High technical ability A wide background from mathematics and statistics to the liberal arts Actuaries and analysts with an eye toward the financial and insurance sectors use their statistical skills to research, network, and connect the dots between discerned variables. The research begins with statistical modeling. Connect the Dots with Statistical Modeling In statistical forecasting models, the information gathered helps analysts make statements about real outcomes which haven’t yet come to pass. The model can then help identify what might influence these variables. An Actuary, Financial Analyst, or Risk Analyst may use a: Merger Model (M&A) – This model is most often used in investment banking and corporate development. Think mergers and acquisitions. After all, someone has to decide the value of each company, then the basis of that value once they’re merged. Complexity varies widely in this model. Budget Model – This model is used in financial planning and analysis and helps set the budget for the coming year and the years to come. Focused heavily on a company’s income, these budgets are designed on a monthly or quarterly basis. Forecasting Model – This model is used to build a forecast of the budget model. Think of it as a building block as companies structure their budget and strategies using one or a combination of these models listed. Sometimes, the forecasting and budget model are combined. Sometimes they’re kept separate. These are only three of the ten types of models used in financial planning and analysis for any number of firms and industries. But, it’s the people behind the numbers who help businesses navigate what is best for their client, customer, and bottom line. An Actuary is just one title those interested in the mathematical and statistical applications for business might find interesting. And like many of those in the Data Science field and higher tech applications, this role is in high demand. Are you the one companies are looking for? If you’re interested in finance, modeling, statistics, Big Data & Analytics, we may have a role for you. We specialize in junior and senior roles. Check out our current vacancies or contact one of our recruitment consultants to learn more. For our West Coast Team, call (415) 614-4999 or send an email to sanfraninfo@harnham.com. For our Mid-West and East Coast Teams, call (212) 796-6070 or send an email to newyorkinfo@harnham.com.

by Jenni Kavanagh

07. February 2019

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