A Presentation of the 2014 Massachusetts Big Data Report
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The document reports on the Massachusetts big data ecosystem and opportunities for growth. It finds that Massachusetts has close to 500 big data companies, 10 leading research centers, and graduates around 5,600 students annually from 14 data science programs. The state has seen $2.5 billion in investment funding for big data companies since 2000. However, it also faces challenges retaining data science talent and developing skills in the growing field. The report identifies priorities like strengthening data science education and expanding collaboration to help the ecosystem continue thriving.
A Presentation of the 2014 Massachusetts Big Data Report
- 1. The 2014 Massachusetts Big Data Report A Foundation For Global Leadership W W W. M A S S B I G D A T A . O R G
- 2. THE MASS BIG DATA INITIATIVE • Mass Big Data Initiative launched by Governor Patrick in 2012 • Mass Big Data Industry Analysis and Research Project yields 2014 Mass Big Data Report • First-ever baseline research report on the big data ecosystem and opportunities for sector growth and leadership in the Commonwealth • Over 50 big data companies surveyed; 16 industry stakeholders interviewed; and extensive analysis via public, academic and social media resources.
- 3. REPORT FINDINGS: A STRONG FOUNDATION FOR EXPANSION AND LEADERSHIP • Close to 500 companies participate and define the Mass Big Data ecosystem • Ten leading research centers differentiate the Commonwealth for advancement in big data via life sciences, healthcare, and other disciplines. • Massachusetts colleges and universities graduate close to 5,600 students annually from 14 data science- related programs in the region. • Investment funding in Massachusetts big data companies topped $2.5B • Massachusetts’ big data talent density is among the highest in the US
- 4. DEFINING THE MASS BIG DATA ECOSYSTEM
- 5. THE COMPETITIVE LANDSCAPE • Big data companies in Massachusetts are successful in attracting VC and other investments – 75% of the firms providing VC funds are located outside of Massachusetts – More than 240 investment firms have poured $2.5B into 123 big data- related companies in MA since 2000 • The Commonwealth has a high degree of specialization and strength in innovation, particularly in: – data integration tools – data analysis software – data management • Technical strength and the advancement of data science on all fronts yielded 5,250 big data patents awarded to Massachusetts inventors and organizations between 2008 and 2012. • $20M+ in federal funding for big data –related research & training efforts since 2006
- 6. MASS BIG DATA: PROSPECTS FOR GROWTH • The overall global big data market is expected to top $48 billion by 2017, up from $11.6 billion in 2012 • Over 50 local big data related firms in the 2013 Mass Big Data Survey reported that they are seeking to fill almost 400 big data- related jobs in Massachusetts over the next 12 months • Mass Big Data Survey respondents view applications in healthcare, life sciences and financial services as “very promising” or “extremely promising” in terms of prospects for substantial growth in Massachusetts. • Study respondents ranked “data integration tools” as the highest growth area within big data technology
- 7. RETAINING BIG DATA TALENT • Massachusetts is a clear leader in big data talent density and data science graduates per capita • Among those data science grads leaving the state, many go to the San Francisco Bay area, followed by New York City, and Austin, Texas • Data Science curriculum and education is exploding with defined programs at Bentley, BU, Harvard, MIT, Northeastern, and a recent MS in Data Science announced at WPI • By 2018, the big data skills gap will be significant, leaving a shortage of 140,000 to 190,000 people with “deep analytical talent,” and a shortage of 1.5 million “data-savvy managers and analysts” who have the skills to be effective consumers of big data* *McKinsey Global Institute, “Big Data: The Next Frontier for Competition” 2011 Location of “Data Scientists” Graduated from MIT and Harvard CIP Title US MA CA IL NC NY TX WA 11 Computer and Information Sciences 23.15 32.79 17.74 33.72 19.09 29.4 14.91 15.83 14.09 Computer Engineering 2.71 4.6 3.9 1.52 2.25 2.61 1.93 1.59 27 Mathematics and Statistics 9.57 18.49 8.69 12.39 10.47 16.37 6.98 9.51 40.08 Physics 3.12 8.94 2.95 3.27 2.96 4.23 1.97 3.45 26.0203, 26.0206 Biophysics and Molecular Biophysics 0.09 0.33 0.13 0.24 0.04 0.2 0.07 0 40.0202, 40.0403, 40.0603 Astrophysics, Atmospheric Physics and Dynamics, and Geophysics and Seismology 0.15 0.44 0.28 0.12 0 0.06 0.33 0.22 Graduates in Data Sciences per 100,000 population in Massachusetts
- 8. REPORT IDENTIFIES MASS BIG DATA PRIORITIES • Strengthen opportunities for data science education and training • Increase regional talent retention and industry recruitment efforts • Expand access to public data • Increase awareness efforts and outreach throughout the Mass big data ecosystem • Accelerate regional innovation and company growth via cross-sector collaboration
- 9. SUMMARY MASSACHUSETTS BIG DATA ECOSYSTEM • Close to 500 big data firms in region • Significant specialization in data analysis, management + integration software • Global leader in big data-driven health, life sciences, financial services technologies INVESTMENT CONCENTRATION • VC + investments groups have pumped $2.5 billion into MA big data firms since 2000 • $20M+ in federal funding for big data – related research & training efforts since 2006 TALENT HUB • An estimated 5,600 students graduate annually from MA colleges with degrees in CS, engineering, math, statistics, and other relevant fields • 14 data-science related programs are available in Massachusetts universities and colleges EXCEPTIONAL ASSETS • MGHPCC • hack/reduce • Big Data @ CSAIL (MIT) • Hariri Institute @ BU • MassTLC Big Data Cluster
- 10. MASS BIG DATA RESOURCES: • masstech.org | @Mass_Tech • massbigdata.org | @MassBigData
Editor's Notes
- #5: This is the top-line purpose.