Hal Varian, Google’s chief economist and author of arguably the two most popular textbooks in microeconomics (one at the undergraduate level and the other intro graduate), shared the following during an interviewed for The McKinsey Quarterly:
I keep saying the sexy job in the next ten years will be statisticians. People think I’m joking, but who would’ve guessed that computer engineers would’ve been the sexy job of the 1990s? The ability to take data—to be able to understand it, to process it, to extract value from it, to visualize it, to communicate it—that’s going to be a hugely important skill in the next decades, not only at the professional level but even at the educational level for elementary school kids, for high school kids, for college kids. Because now we really do have essentially free and ubiquitous data. So the complimentary scarce factor is the ability to understand that data and extract value from it.
I think statisticians are part of it, but it’s just a part. You also want to be able to visualize the data, communicate the data, and utilize it effectively. But I do think those skills—of being able to access, understand, and communicate the insights you get from data analysis—are going to be extremely important. Managers need to be able to access and understand the data themselves.
You always have this problem of being surrounded by “yes men” and people who want to predigest everything for you. In the old organization, you had to have this whole army of people digesting information to be able to feed it to the decision maker at the top. But that’s not the way it works anymore: the information can be available across the ranks, to everyone in the organization. And what you need to ensure is that people have access to the data they need to make their day-to-day decisions. And this can be done much more easily than it could be done in the past. And it really empowers the knowledge workers to work more effectively.
It’s nice to hear that your skills may become a hot commodity. I came across the article from Gelman’s post on What should an introduction to statistics be like? What I enjoyed most was the discussion that followed. Like how “the time of playing with integrals, density functions and demonstrations is over”, and that we should “focus on coding and implementation”.