Big data is converting information into world currency through a process that transforms a dime into a dollar or perhaps a million dollars worth of focused value. Big data will make a profound contribution to socioeconomic growth and sustainability in direct proportion to the quality and quantity of essential talent available to expand and perpetuate the process.
SAP is well-positioned to apply big data innovation to education to employment programs funded by the US DOL. The process will produce a diverse big data workforce capable of supporting the human resource and workforce development requirements of all industries and sectors.The federal government is enabling the development of a big data workforce through the Helping Communities Work initiative.
Community colleges and industry associations are using big data to convert labor market information into socioeconomic value. The process helps organizations to understand the connection between economies, people, and work. Sound economic principles and relevant data are creating solutions that help educational institutions, workforce planners, and regional developers to improve education outcomes, produce big data workforces across all industries and sectors and improve the economic conditions in their communities and regions.
A skilled and well-prepared workforce drives economic prosperity, but the process requires the right training, recruiting, hiring, and planning. These activities are largely dependent on the ability to process data that illuminates many facets of employment and human capital so that informed stakeholders can make wise decisions.