Amongst the many challenges facing those seeking to exploit the big data revolution, finding the "talent and skills" – and suitably qualified statisticians in particular – is the most pressing, it says.
As the volume of data being generated globally balloons, technology and infrastructure are advancing rapidly. Service developers face many difficult issues in areas including choosing the right technologies, regulatory compliance and enduring data security.
It highlights the need for "people with multifaceted skills: knowledge of advanced statistical techniques, modelling capabilities, strong understanding of the business context, customer insights, perhaps even some knowledge of regulations and programming".
The Times says "there are not enough of such multifaceted people the workforce today; and the best education systems in the world are not designed to produce such industry-ready talent".
It points out that India produces about 100,000 management graduates and software engineers annually, but only 4,000 statistics graduates. And, worryingly, "statistics courses in business schools are not the ones in greatest demand," notes the Times.