MIT Sloan: The Recession’s Impact on Analytics and Data Science

“Will the current recession slow the growth in demand for analytics and data science? Will changes in organizational goals and focus make job losses in these fields likely?

Demonstrated ROI, or a lack thereof, is likely to be the biggest determining factor in whether organizations will strengthen or contract their data science and analytics efforts. For those data teams that have demonstrated strong, positive ROI, the demand for analytics might increase in a recession.

Based on data from Burning Glass Technologies’ Labor Insight tool on the three-week average for the period that ended April 18, 2020, growth in new U.S. job postings has slowed, with rates of decline varying across industries such as finance and insurance, non-store retail, passenger airlines, and air freight. However, although new job postings in data science and analytics have declined overall, they currently appear to be declining at a slower rate than that of most other occupations. And within the finance and insurance industry, new job postings in the analytics and data science space have actually increased.”

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