Ask any department head or company, and they will point to the dearth of analytics skills as a significant headache.
Simply put, there are not enough data science students available. And even with universities restructuring and introducing new courses, this demand will not go away -- especially when many countries are hoping to build smart cities and AI-driven economies.
Companies like TIBCO Software are taking a different tack. Instead of focusing on pure STEM graduates, the company is broadening the skills of business leaders.
The company recently inked an agreement with the Singapore Management University (SMU) School of Information Systems to deepen students’ data analytics knowledge and prepare them with the right digital skillsets for the digital economy. Students will have hands-on opportunities to use selected TIBCO tools to hone their analytics skills.
“I think with the advent of data and technology, it is crucial that business leaders are also equipped with data and digital skills to manage the business. Even more than that, business leaders who are exposed to advanced analytics can also promote a data-driven culture across the organization, sharing and collecting insights across the different business units,” said Erich Gerber, senior vice president, APJ and EMEA, TIBCO.
The initiative aims to make tomorrow's business leaders fluent in analytics themselves. That way, companies can focus on the advanced analytics they will still need and not be sidetracked by a lack of necessary skills. It is especially vital as companies join smart city initiatives.
“As we become more data-driven, it is an important element to be equipped with advanced analytics skills. Organizations that apply analytics to strategic business goals and are clearly aligned with business outcomes are more likely to be successful. As a nation embarking on smart initiatives, Singapore companies need to adapt and have the right skillsets to remain relevant,” said Gerber.
TIBCO and SMU see this collaboration as an opportunity to train up to 500 students on the Digital Business Solutioning track under the Bachelor of Science (Information Systems) degree program.
“With the rapid growth of the digital economy and the ongoing efforts to transform Singapore through technology, there is strong demand in public and private sectors for graduates with sound knowledge and training in analytics. Collaborations with industry and technology providers, such as TIBCO and integrating academic learning with real-world practice, are part of our overall efforts to nurture future-ready graduates," added Professor Pang Hwee Hwa, Dean, School of Information Systems, Singapore Management University.
With hands-on opportunities, students will deepen their knowledge of advanced data analytics using selected TIBCO capabilities, including data analytics, real-time analytics, data science, data virtualization, and API management. The end-to-end TIBCO solutions will allow students to apply real-world solutions during their studies.
"It is paramount that we advocate organizations to be more data-driven. We understand that there can be significant challenges, such as resources. That is why we are on the journey to partner tertiary institutions in Singapore and the region to support the next generation workforce to be equipped with the right digital analytics skillsets," said Gerber.