Growing demand for analytics: The demand for analytics talent is growing rapidly.

A 2012 survey by InformationWeek found that 40 percent of respondents said they planned to increase their staff in big data and analytics in the upcoming year and estimated that big data staffing would increase by 11 percent over the next two years (Henschen, 2012). The McKinsey study supports these findings. The authors predict that there will be a severe shortage of those who can analyze and interpret big data, predicting that by 2018, the United States could face a shortage of up to 190,000 workers with deep analytical skills and 1.5 million managers and analysts with the ability to use the big data analytics to make effective decisions. (Manyika et al, 2011.) This includes the ability to integrate findings from big data with knowledge derived from other techniques which offer different strengths and biases, such as focus groups and targeted surveys. The increasing demand for big data analysts who can crunch and communicate the numbers and the lack of managers and business leaders who can interpret the data means there is a growing talent shortage in the field. A survey conducted by The Big Data London group (in Raywood, 2012) found that 78 percent of respondents said there was a big data talent shortage, and 70 percent believed there was a knowledge gap between big data workers and those commissioning the projects (e.g., managers and CIOs). According to the State of Business Intelligence and Analytics survey of university professors, students and employers , two out of three students agree or strongly agree there are job opportunities for them. More than 40 percent pointed to data-savvy careers such as business analyst, IT professional working with analytics, or a role in business that requires an understanding of data analytics. Four in 10 want to use their business intelligence skills in marketing (22%) or in finance (20%). Sixteen percent are considering careers as data scientist as one of the most lucrative ones. Faculty want to show students the impact of the data explosion, demonstrate the linkage between data and business outcomes, and teach exactly how to achieve those outcomes. Challenges for analytics and implications for Management of the Organization: According to Bantleman (2012, April 16) the implementation of big data requires a high level of sophistication. Bantleman (2012, April 16) points out that big data does not integrate well into existing IT resources; this requires new spending for big data specific resources and integration.

Not only access to data is important but data retention, data richness and data realization is very crucial for successful implementation of any business strategy. Being able to react instantly requires an approach of pushing intelligence into content management systems, dynamic adserving engines and the marketing ecosystem as a whole. Companies need to update and amplify marketing basics in light of new technologies. The biggest changes are the source of these new, more detailed customer insights. Successful Big Data approaches require new tools such as e.g., Social, In-Memory, Text, or Semantic Analytics which allow for analyzing the new amount of different data sources from for instance online social networks, search engines, payment transactions, or all kinds of ECommerce (variety).However, the application of such data analytics tools first requires the possibility to gain access to these new data and customer sources as well as their adaption the new data sources to existing data warehouses, reporting standards etc. New technologies such as, e.g., Quantum Computing or In Memory Database systems allow for handling new dimensions of data amounts quickly and in an economically efficient way (volume and velocity). However, it is critical to align new IT infrastructure opportunities with existing and new business processes and applications in order to be able to exploit technological infrastructure advancements. Big Datas success is inevitably linked to an intelligent management of data selection and usage as well as joint efforts towards clear rules regarding data quality. Though new technologies allow for collecting more and more data, the future customer is not likely to be willing to enter various kind of data, e.g., in mobile product purchase. Future applications need to hold 99%of customer data always available from various sources and only 1 % to be entered on demand by the customer. This requires high quality of the data held by the company to guarantee meaningful use of the new data entered by the customer. High data quality requires data to be consistent regarding time (e.g., across all sales channels), content (e.g., same units of measure), meaning (e.g., to avoid different meanings), and data that allow for unique identifiability (e.g., of customers), as well as being complete, comprehensible, and reliable. To this end, a clear data governance and data policy is inevitable which enables a meaningful use of the data (veracity). As data policies likely differ e.g., within different business units or countries, companies need a

data governance with clear data quality policies, data quality management processes, data quality responsibilities etc. In absence of this condition, all technological infrastructure advancements, analytic tools or business models are ultimately without value for data-driven business decisions. Big Data requires innovative approaches which view privacy concerns and different international privacy standards not as hindering restrictions, but rather as a chance to develop a competitive advantage. In a Big Data era with many different data from different sources, privacy and anonymity means more than just uncoupling surname, first name, age, and address from a dataset. Location-based data and other sources still allow for easy and clear identification and tracking. As per survey by New Vantage Partners (2012) found that 60 percent of respondents reported finding it very difficult to find and hire big data professionals, and 50 percent of respondents said it was very difficult to find and hire business leaders and managers who could identify and optimize business applications in big data. A survey conducted by The Big Data London group (in Raywood, 2012) found that this impending talent shortage will create a significant challenge for HR and talent management professionals responsible for recruiting, developing, and retaining a critical skill set that will soon be in high-demand. To help their organizations realize the full potential of big data, HR and talent management professionals must understand the fundamentals of big data, why it matters, and what skills their organizations will need to analyze and interpret the large amounts of data they collect.