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Is there a good type of unemployment? Yes there is!
It is called frictional unemployment. A type of unemployment that arises when employees make temporary transitions to find better roles, and, when companies scout for the best suited talent for that plum of a role.
We do face frictional unemployment at present. Wonder why? Read on.
If we have data, let’s look at data. If all we have are opinions, let’s go with mine, said Jim Barksdale, former Netscape CEO.
We have data and we have it in abundance. The world has just realized the importance of looking at it closely.
McKinsey predicted in 2011 that, by 2018 there will be a gap of 50% in the required skill set against the demand. Research in this field nowadays points towards the same. This exactly is frictional unemployment.
Sheldon Cooper knows this best:
The MBA Revolution
The last ground breaking revolution in academics happened with the advent of The Master of Business Administration .The MBA degree originated in the United States in the early 20th century when the country industrialized and companies sought scientific approaches to management.
Now we are witnessing the second such revolution — Masters in Data Science. A power not to be ignored, and is set to take on the world.
Data overload or information overload is the monster that came out of a swift surge in technological development. A monster that can be tamed and used effectively. And this exactly is why the need for Data literate professionals who are equipped to tame the monster to help organizations make timely, strategic and relevant decisions.
5 reasons to pursue an MBA in Data Science:
a. Emerging Business Data Roles: The growing demand for Data Smart managers
Merely having a data scientist, a big data engineer, a math wizard or a machine learning expert on board isn’t enough for the analytical transformation in an organization. There is also a high demand for Data Smart Managers or those who can serve as a link between analytical talent and strategic decision making wing of the Organization.
A Data Smart Manager is responsible for driving a data driven culture in the Organization. He is in charge of strategic decision making and foreseeing the future of the Organization based on Data Analytics.
a. Demand for Data Savvy Managers pushing salaries higher & higher
Fortune magazine calls Data Scientist ¨the nerdy-cool job that companies are scrambling to fill¨. IBM Predicts that demand For Data Science professionals will Soar 28% by 2020. The report also says that Data Science jobs remain open an average of 45 days, five days longer than the market average which is disrupting the job market. And it is simple economics that the monetary value for the skill is directly proportionate to the scarcity of talent.
a. A range of related skills has more value
The most difficult part in Data Science Profession is not Math. It is Understanding the business requirement. This calls for a deep understanding of the Industry that you work with, domain knowledge, the key performance metrics that need to be looked at, the vision & objective of the task at hand etc. Understanding business requirement is the most important skill that a new age manager should unquestionably have. Intellectual curiosity, business acumen & communication skills are the most important non-technical skills required in Data Science. An MBA is all about getting trained and attested for these skills. See the illustration below that shows how an MBA in Data Science creates a Data Smart Manager with the right blend of essential skills.
a. Access to business network
The camaraderie that an Alma Mater creates can last through a life time. As an MBA student, you have great networking opportunities. You’ll get to know and interact in a context that accentuates your business management capabilities with colleagues, professors and industry panel members. Furthermore, you have good chances to meet potential employers through the various internships that we provide. The same holds true for our extensive alumni network.
b. Recruiters love the MBA degree
An MBA is recognized nationally & internationally. MBA offers you credibility. An MBA shows that you are an expert at what you do. It shows that you are highly competent & dedicated to the industry, in this case to Data Science. It is a proof of your mastery over managerial skills along with the potent combination of Data Science.
Dig a little deeper into MBA in Applied Data Science. You could be the next sought after talent. Connect now:https://www.productleadership.com/programs/applied-data-science/
Master the Art of Data Science with an EMBA
Institute of Product Leadership is Asia’s First Business School providing accredited degree programs and certification courses exclusively in Product Management, Strategy, and Leadership.
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