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Oil and gas companies around the world will struggle to find the thousands more analytics scientists, experts and specialists they will need to manage their projects and operations effectively.
As demand for oil rises worldwide, industry players will continue to expand and deepen their operations globally. They will need to focus more sharply on efficiency, reliability and competitive positioning. To accomplish all this, they will need legions of analytics talent—people with the ability to use statistics, quantitative analysis and information-modeling techniques to make business decisions. However, new research from the Accenture Institute for High Performance demonstrates that a critical mismatch between supply and demand of analytics talent is looming.
The Accenture Institute for High Performance undertook a yearlong project to gather and distil data on job creation and skills availability in the market for analytics talent. The research focused on seven countries: the United States, the United Kingdom, Japan, Singapore, China, India and Brazil.
For the demand side, we focused solely on job openings created by economic and industrial growth and excluded replacement hiring. On the supply side, we focused on fresh talent coming out of universities with bachelors, masters and Ph.D. degrees in math, statistics, operations research and other quantitative fields.
The oil and gas industry will add 11,900 new analytics jobs across the seven countries studied—the United States, United Kingdom, Singapore, Japan, India, China and Brazil.
The oil and gas industry will create analytics jobs at a pace much faster than overall employment growth in the US, the UK and Japan. The same is expected to be seen in other important oil and gas-producing nations.
Analytics jobs everywhere will generally be growing in equal proportions by type because all skills are increasingly required as analytics techniques pervade every activity of the industry.
In many countries, analytics talent supplies will not keep pace with new job growth and there simply won’t be enough talent to go around.
Different oil and gas companies face unique talent challenges in different markets. But one thing is clear: finding the analytics talent they need will be a critical imperative everywhere.
Employers, educators and policymakers everywhere are confronting hard choices about how best to head off shortages of critical talent. These stakeholders can work together to increase the analytics talent supply pool in a few different ways:
Robert J. ThomasExecutive director–Accenture Institute for High Performance
Charlene Hou Research analyst–Accenture Institute for High Performance
Elizabeth CraigResearch fellow–Accenture Institute for High Performance
James Arnott Managing director–Resources Operating Group, Talent and Organization lead
February 21, 2013
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