Companies are looking at India as a delivery hub to scale up and meet global demands
Big data is an industry buzzword, which has gained a lot of significance in
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recent times. Data collected by organisations today is richer, more spontaneous and available in very large quantities. With IT infrastructure and platforms growing leaps and bounds every year, and with abundant supply of storage capacity, the challenge is to capture the maximum amount of data available to get richer insights that feed into decision-making. This is where big data analytics plays a critical role.
According to a report by International Data Corporation, the worldwide big data technology and services market is expected to grow from $3.2 billion in 2010 to $16.9 billion in 2015, at a compounded annual growth rate (CAGR) of 40 per cent.
Big data or big data analytics help organisations gain competitive edge in the marketplace. Marketing has been one of the first functions to adopt big data into its daily functioning. We see organisations looking to build stronger, deeper relationship with their customers while delivering higher return on investments (ROI). The adoption of this trend is being led by companies in the business-to-consumer (B2C) space, which by nature of their business interact with thousands and millions of customers on a daily basis — financial services, online services, CPG, telecom, retail and technology.
The main challenge facing industry today is talent crunch. According to a Mckinsey report on big data, shortage for deep analytical talent within the US alone is expected to be around 140,000 to 190,000 by 2018. The global demand is expected to be much more.
People with “deep analytical talent” might have a background in engineering, mathematics, statistics or business management, coupled with an understanding of technical systems. These people are passionate about technology and numbers.
Companies are looking at India as the big data analytics delivery hub, with companies here expected to scale up and meet global demands. This is not a new situation for Indian companies, which handle the IT infrastructure of many global companies, and have expertise in handling zetabytes of data and related systems. With a strong foundation in technical skills, Indian IT professionals are adept at learning new tools and languages. There is an expectation that the next wave of Hadoop and XYZ programmers will come from India.
To meet this demand, companies are leveraging a disaggregated approach towards talent. In this disaggregated approach, we leverage specialised personnel for each of the roles that are required to deliver a successful analytics programme. Analytics delivery requires industry context within engagements. A domain expert, with significant domain experience helps add this context. He/she also helps data scientists to understand data in a better way. The context may be vertical (insurance, CPG, banking) or horizontal (marketing, finance, supply chain) in nature. Indian talent makes an ideal workforce option to service global demand, due to intrinsic mathematical abilities, technical and IT skills as well as willingness to accept analytics as a viable career option. Due to the enormous growth opportunity in big data, there is also a lot of traction among venture capitalists.
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