My name is Lindsay Hill and I have been supplying talent (fixed-term contractors and permanent staff) into the Publishing arena for over 10 years, through my role at Jenrick IT. In the last 3 months myself and my team have witnessed a significant increase in demand for Data Analytics Specialists who operate within the Publishing Industry, a trend that has been so noticable I felt it merrited reporting on... Firstly, the roles we are referring to all fall within the overall skill area of Data Analytics, and more specifically:
- Data Analysts
- Content Analysts
- Content Architects
- Data Architects
- Business Intelligence Consultants
- Content Developers
- Big Data Architects
If I think back, it was only 6 months ago that we would have been required to supply these specialists only once or twice within an 8 week period. However in the current market, we have 5+ vacancies live at anyone time for experts in Data Analytics, from within the publishing market. Why such an increase in demand? To help me paint a more accurate picture of why demand is rising so rapidly for these skills, I thought I would quote what some of the market leaders are saying about Data Analytics… Venkat Viswanathan, Founder & CEO, LatentView, writes, there are 5 Ways Big-Data Can Save Publishing - Here are five ways I think the publishing industry can make the most of big-data in propelling their businesses forward:
- Change the model: Traditional subscription methods no longer work for a more digitally-connected user experience. Publishers need to create a digital experience and differentiated digital experiences on different form factors, in audience aggregation, and around social media programs. In other words, optimize the reader’s experience on each venue independently, rather than simply try to duplicate one model to all venues and form factors. Also, tailor what data you collect and how you collect it on each venue, so that the reader faces neither a limited experience nor is discouraged from inputting or releasing his or her data.
- Optimize pricing: Publishers need to reach a much larger audience and take hold of online ad inventories. Big-data helps publishers understand their target audience base and thus optimize pricing based on location, categories, and underperforming sections. Also, don’t forget that personalized pricing can be an ideal element in personalized marketing to spur sales, reward customer loyalty, and urge reluctant readers to try something new.
- Get social: Publishers can track tweet hashtags, Facebook likes, and book reviews to aggregate and track in real-time and to provide tailored customized offerings and interactions based on preferences and feedback.
- Think about product bundling: Big-data can reveal a reader’s penchant for various forms of the same product, as it did for the entertainment video industry, and knowing that can increase your margins. Ever wonder why a movie would come packaged with a DVD, a Blu-Ray disc, and the means to store and retrieve the movie from a cloud service, such as Sony Pictures’ UltraViolet? Dual hard forms offer the user options for playing the movie on a variety of devices. The ability to store the movie in the cloud and use it later on nearly any device adds value for the viewer. The combo bundling gives the movie makers a market differentiator and a higher margin. There’s no reason similar product bundling wouldn’t work in the publishing industry, perhaps as a mix of a paperback, an e-book stored in the cloud, an audio book, and the movie. But there is no reason to guess at that. Big-data can reveal the best general product mix, and the best personalized mix, to maximize your sales and your margins.
- Identify and leverage the big trend versus side trends: Readers typically have strong interests in specific types of reading materials and subjects, but they also have interests that peak and wane according to current events or social recommendations. Further, readers buy gifts that are of no interest to themselves for other people. Big-data can reveal the arching trend of the reader’s most dear interests, as well as the side trends of short-lived interests and gift-buying habits. Knowing this distinction in past transactions will better help publishers personalize the pitch to individual customers.
“A recent survey from Lavastorm Analytics presents a classic “good news/bad news” picture. The good news? An overwhelming majority of organizations recognize the rising value of data analytics. In fact, analytics technologies are driving more decisions these days than the classic gut feeling that many company leadership teams depended upon in the past. As for the bad news? An alarming lack of IT resources and tools, as well as required skill sets among employees, is keeping organizations from maximizing the value of existing data. At too many companies, the business side and the IT side work with their own analytics tools, as opposed to working together in a collaborative manner. And talented professionals who are hired on as data analysts spend a stunningly small percentage of their time actually doing data-analytics jobs. (OK, safe to say there's a bit more bad here than good, but admission is the first step toward improvement, right?) More than 425 members of the analytics community, including business analysts, technologists, data-analytics pros, IT managers and C-level execs, took part in the research.”
These latest articles, supported by an abundance of additional current market news, indicate that demand for professionals in Data Analytics will continue to rise and that organisations will struggle to attract this talent via the open job market, due to the scarcity of this skill combination. How do I find out more? There are some extremely challenging and interesting fixed-term contracts and permanent roles available, within a selection of extremely established yet innotive companies. So, if you are a Data Analytics Professional who is keen explore the career opportunities available to you, then please contact me using my contact details below. Furthermore, if you represent an organisation that is struggling to recruit Data Analytic talent, or wished to gain a greater understanding of the value that this function could bring to your publishing organistion, then please call me and I'll gladly discuss several current market examples of exactly how this function has given a demonstratable value-add to the business model. You are more than welcome to call me on +44 (0) 1932 245 500, connect with me via LinkedIn, or send me an email. Article Sources: In addition to the two articles that we have referenced today, we'd also like to thank Datameer.com for the extremely relevant image that explained this subject so well.