The masses of data generated by IoT is creating enormous opportunities for the application of data analytics in almost every industry, exacerbating an already dire shortage of data scientists A new school has opened in Sydney to help meet the need.
Data School Australia is the first international location for the UK-headquartered Data School established three years ago. It is a collaboration with analytics and technology consultancy MIP Australia, a partner of data analytics software company Alteryx and data visualisation software company Tableau, and its training is specifically in these tools.
The school will offer Australian-based consultants “a two-year immersive learning and workplace secondment experience in data analytics.” It says consultants will receive a broad range of training from industry experts and practitioners from MIP Australia.
It is not a school in the normal sense. According to its web site, students will be paid to attend. “You will become an employee of The Data School Australia on a fixed term contract for two years. Expect to spend four months in the school and then the remainder of the time working on placements with clients.”
It adds: “Expect to work for clients who have large data problems. Whilst these could occur in just about any industry sector, we anticipate placements being with large financial services clients, as well as retail and media clients.”
Successful trainees will graduate with industry certifications in Tableau Server, Tableau Desktop and Alteryx, augmented by these placements, where consultants “will have the opportunity to work on projects involving large and complex data sets alongside seasoned industry professionals [gaining] invaluable, real-world immersion [that] will give them the opportunity to develop the ‘soft skills’ necessary to succeed in the data analytics sector, including project approach and design and client and stakeholder management.”
The school’s head coach, Craig Dewar, said: “Our school will look for prospective trainees who have a passion for data and a desire to learn. They don’t need to have a particular degree or background. We’re excited to play a role in developing and boosting Australia’s digital skills capability.”
The Data School Australia, located in Pyrmont in central Sydney, will run three intakes a year – in April, August and December – with the first cohort of students set to commence in August.
Data scientists in high demand
There are numerous indicators of the importance and shortage of data science skills.
In 2012 Harvard Business Review pronounced data scientist “the sexiest job of the 21st century.” Gartner says 80 percent of organisations will struggle to roll out data literacy competency programs within the next two years, as they realise their extreme deficiency in this space.
The Institute of Analytics Professionals of Australia says analytics professionals, including data scientists, are employed across all industries and earn a median salary of $130,000 compared to the Australian average median salary of $84,000.
Deloitte Access Economics predicts Australians with big data skills will earn almost $20,000 more on average over the next four years than they do today.
According to the Committee of Economic Development of Australia’s (CEDA) 2018 Economic and Political Overview report, the data explosion is changing Australia’s economy and both the public and private sectors need to do more to capitalise on opportunities.
McKinsey & Company estimates the benefits of rapid advances in data and analytics could add $220 billion to the Australian economy.