One of the key challenges in reaping the benefits is the limited availability of skill resources. McKinsey projects there is a need for 1.5 million data-savvy managers and analysts needed to take full advantage of big data in the United States alone. Additionally, we see more and more news about the lack of skills in the insurance, financial services and healthcare industry as it relates to big data. These skills are scarce and there are situations where many are ?re-branding? their resumes with ?data scientists? or big data analyst; without having the appropriate knowledge and experience.
The challenges on understanding how to create value include how to deal with the speed of data creation (velocity), the increase in types of data (variety), and the increase in volume coupled with the ability to provide analytics against the data rise to the top. These challenges are not addressed with the traditional skills of data warehouse, structured data analysis and data integration.
The shortage of talent is just the beginning and tip of the iceberg! Having the right talent coupled with the right techniques, knowledge and infrastructure are needed to take advantage and unleash the business value within Big Data. The ability to find the ?right people? with big data experience along with insurance industry business expertise is critical to release the value.
Gartner in their ?Global IT Predictions for 2013 and Beyond? outlines ? ?A nexus of IT forces, including cloud, big data, mobility and social media, along with continued global economic uncertainty, will accelerate the restructuring of the nearly $1 trillion IT services market?. CIOs should reevaluate the providers and types of providers used for IT services, with particular interest in cloud- enabled providers supporting information, mobile and social strategies.? The combined offering of Infinilytics and Serendio is a unique on-shore offering which provides you with a proven alternate to the traditional outsourcing providers.