Big data experts ‘get £600 an hour’

loadsamoneyThe direct marketing industry’s reluctance to embrace the term ‘big data’ may be about to change after a new study revealed the phenomenon is turning into “loadsamoney” for those working in the sector.
According to the report, by ABI Research, nearly half of the $31bn (£19.7bn) spent on big data this year will go on salaries, with the other half allocated to vendors’ products and services.
The claim appears to be in line with other recent reports, which flag up the high level of demand for big data-related skills. According to SAS, UK demand for staff with Hadoop training grew 210% in 2012, with Hadoop contractors now able to charge up to £600 an hour.
ABI senior analyst Aapo Markkanen said: “What we’re now seeing is quite significant overspending on salaries, as organisations turn to data scientists and other specialists in order to leverage big data in the first place.
“Similarly, a good share of the money is spent on the associated professional services, which have sprung up to assist firms that are data-rich but skills-poor.”
The company estimates that combined, worldwide big data spending – including salaries, services and technology infrastructure – will grow at a compound annual growth rate of 30% for the next five years, until reaching $114bn in 2018.
But it is not all good news, as the report predicts the high cost of big data skills is leading to many technology vendors simplifying their products and services.
“Eventually, such innovations will put analytics within any domain expert’s reach,” said ABI. “At that point, data will stop being ‘big’ again.”

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