I found some interesting data from KDnuggets that I wanted to share. From our vantage point, we don’t necessarily see this as true for quantitative professionals, but we thought you might find it a worthwhile read.
The poll asked, “The US economy is likely to be in a recession for a while. How do you expect this recession to affect the demand for data mining / analytic software and services in the US and worldwide?”
The surprising result is that a third of respondents felt that it would increase the demand. John Elder, one of the leading data mining consultants in the US, observed that his company saw an increase in demand. KDnuggets also saw an increase in demand for consulting. However, this increase did not apply to all. About 40% of respondents felt that the US recession would reduce the demand, and the rest thought that there would be no change. Also, based on number of jobs received by KDnuggets, and looking at “data mining” jobs at other large job boards, we see that hiring by large companies (except perhaps Microsoft) has slowed down in the last quarter.
See full results of KDnuggets Poll: Effect of the US Recession on Data Mining Demand
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