This is one of the major reasons why the Infocomm Development Authority of Singapore (IDA) is partnering with Google to train more data analysts.
The Squared Data & Analytics Program involves early career professionals or fresh graduates undergoing thorough training in data analytics.
The program lasts for eight months and involves classes and on-the-job training, to give the people real world work experience.
This is the third course of its kind and had its debut launch in 2014.
According to IDA, businesses that use data analytics are better at deploying resources, which helps them perform in the slowing global economy.
"What is important for us is for the industry to come along with us, as the Government, with our funding, support, rally people and work together to create more technical specialists because the industry is crying out,” IDA's Assistant Chief Executive (Development), Khoong Hock Yun was quoted as saying by Channel NewsAsia
“We want to be more competitive, but we need the manpower. So, for many students out there who are looking for new jobs, there are a lot of specialist roles."
Singapore is the ‘second-most talent-competitive country’
Singapore will need another 2,500 data analysts between now and 2020, according to the Minister for Trade and Industry S Iswaran.