Data could be the new oil for Scotland as the country continues to build on its global reputation as a hotbed for talent across the tech and data science industries.

Pre-pandemic, unicorn companies such as Skyscanner and FanDuel started to cement Scotland’s position as a centre of tech expertise while more recently, tech-data organisations like Trustpilot have chosen Scotland as home for their global hub of excellence.

But the pandemic has fast forwarded the focus on tech and data science ten-fold as we find ourselves in a new ‘remote’ world – and it is crucial that businesses across all sectors stay ahead of the transition game because the remote world is going to happen.

There is already a greater mobility in the technology and data industries with the decentralisation of work in this space giving people a freedom that many of them previously lacked. The freedom to work remotely, full time, for companies that champion causes they believe in.

Many sectors such as retail, fintech, challenger banks and the media have invested heavily in technology and data intelligence because they need to get to know their customers – more than the customers know themselves.

Such is the power of data that companies like Amazon are predicting what customers want before the customer does, while some companies know exactly what you are spending. If I saw what I’d spent online over the past 15 months, I probably would be shocked by just how much!

Knowing your customer inside out has never been more important. It’s also top of the list, along with system compliance, if seeking investment.

Data is filled with intelligence and if you know your data, you can get a snapshot of your business at any time and in real time as well as identify and predict trends as well as potential issues. It is almost a digital currency with its value rooted in people, how they think and how they behave.

Only a few years ago, at an industry leader event involving around 80 data leaders, we asked how many thought they would have a chief data officer on their Board within five years and only two raised their hands. Somehow, I think if we asked the same question now, there would be a considerably higher show of hands.

Robust digital infrastructures have been a critical lifeline for most businesses during Covid while lockdown has given employees time to consider not only their role, but their purpose in life. This couldn’t be more prevalent in tech and data science where more than 70% of data scientists and analysts say they are open to new positions if they come their way.

It’s simple supply and demand, and the supply is in huge demand while the world has become their oyster in terms of remote working.

One example is when Covid struck last year, we worked with two separate individuals in the Highlands who had lost their jobs. One was in data intelligence and the other was a chief technology officer.

They are now working remotely for an insurance firm in London and for a fintech startup in Bristol respectively. Similarly, we supported a London company in need of 40 data engineers to help with managing data and data analysis

Almost 20 years ago when MBN was established to focus solely on the tech and data market, people in Scotland, who wanted a job in the sector, would have had to travel outside of the country.

Since then, it’s completely turned around, thanks to organisations like The Data Lab which has been instrumental in helping to plug a gap in the skills shortage and put Scotland on the map.

Our purpose at MBN has always been people and true talent. We develop partnerships with our peers – clients and candidates alike – and a lot of our work is community led.

We regularly collaborate with Scottish Enterprise and the SDI while our partnership with The Data Lab through our MBN Academy has resulted in 350 MSc data students being placed on internships over the past four years.

One of the profound impacts of the pandemic is that many organisations have been forced into re-considering their overarching purpose and contribution to society.

There’s a new way of leadership – leaders who are confident, passionate and conscious of their people, and getting out of this rat race. It’s not about working 9-5, it’s about productivity and getting results.

Looking at my own business, I would say there were people who left us about five or 10 years ago who may have stayed with us and thrived if we hadn’t been working in parallel to a 9-5, office-based culture.

I would say there were people who left us about five or 10 years ago who may have stayed with us and thrived if we hadn’t been working in parallel to a 9-5 culture.

Leaders, managers and supervisors need to lead with purpose and keep looking out for their colleagues to make sure they are okay including those who may be shyer in coming forward.

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Leaders also need to be ready for some tough conversations on the transition journey ahead. Today’s greater focus on values and purpose, including diversity and inclusiveness, has prompted discomfort in many teams and they should feel able to raise the topic.

A call for a clearer purpose in our work can come from any part of an organisation while creating safe spaces and informal gatherings is encouraged to focus on purpose and demonstrating a willingness to listen and learn.

Once a month, I’m on a hill or in cold water with a member of staff as I meet up with members of the team outside the remote working environment. As someone who enjoys cold water exposure and outdoor activities, they have proved an invaluable outlet since lockdown and a good way of staying in tune with the team

Organisations who focus on environmental, societal, individual or collective purpose – whilst presenting opportunities for individual growth and success – will continue to be viewed as the employers of choice in the competition for talent. This can only, in turn, help open up greater doors for diversity and inclusiveness.

Making the time to join teams on the frontlines to see how they’d like to bring purpose to their work is also a force for good. It might not just pinpoint the key to attracting and retaining the talent you need but unlock your data currency for the future.