Chapter 3
The rise of the data-savvy workforce
Summary
Financial institutions are experiencing a growing demand for data analytics talent, with 44% reporting a significant increase and 42% noting a moderate increase. Critical skill gaps exist in business acumen (36%), cloud computing (31%), and data science and ethical data handling (both at 26%).
Organisations are adapting by upskilling existing staff, recruiting specialised talent, and fostering a data-driven culture across all levels of the organisation.
What are the most critical data skills and competencies that are lacking within your organisation? (Respondents were asked to select three options)
0%
Business Acumen: Understanding of business processes and objectives
0%
Cloud Computing: AWS, Azure, GCP, cloud infrastructure management
0%
Data Science: Machine learning, statistical modelling, data visualisation
0%
Ethical Data Handling: Awareness of ethical considerations in data management and analysis
0%
Critical Thinking: Ability to analyse data critically and draw meaningful conclusions
0%
Problem-Solving: Ability to identify and solve complex data problems
0%
Data Governance: Understanding of data governance principles and practices
0%
Domain Expertise: Knowledge of industry-specific data and processes
0%
Data Analytics: SQL, Python, R, data analysis tools
0%
Collaboration: Working effectively with cross-functional teams
0%
Big Data Technologies: Hadoop, Spark, Kafka
0%
Communication: Effective communication of data insights to stakeholders
0%
Data Engineering: ETL/ELT, data warehousing, data lake house architecture
0%
Data Storytelling: Ability to communicate complex data concepts in a clear and engaging manner
“Companies are really feeling the gap in business acumen and data literacy across all levels. Too often, teams struggle to interpret and communicate data effectively. The role of data storytellers — people who can translate complex analytics into compelling, actionable narratives that drive decision-making — is only going to grow more essential.”
Betsy Bobkoski, Head of Account Management & Sales Enablement, Arcesium
