Despite the availability of sophisticated information systems, it is the people behind the processes who guarantee the success of Big Data initiatives. Unfortunately, accounting and finance leaders are having trouble finding the technical and nontechnical skills they need.
In June 2015, IMA® (Institute of Management Accountants) and Robert Half surveyed nearly 500 financial executives and managers to learn how companies are finding and retaining people with the technical and nontechnical skills they need for Big Data analytics.
Financial and management professionals can use this report to find people who can do statistical modeling and analysis of huge data sets to support strategic decision making.
The survey found that most accounting and finance teams:
- Report limits to their business analytics expertise.
- Have significant skills gaps in both technical and nontechnical areas and are struggling to find and hire people who can fill open positions due to a competitive hiring marketplace for this kind of talent.
- Can build teams with in-demand skills by improving compensation packages and training programs.
- Can increase success of data initiatives with the right information systems, the support of top management, and cross-functional support.