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Scope and Future of Data Analytics in India

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What is Data Analysis?

Changing technological landscape and newer business challenges compel companies today to look for strategies that ensure higher business returns as well as reduced operational expenses. Companies may have large measures of data in every single area of research, showcasing, deals, creation customer service and so on. They need to standardize data storage and security arrangements, to align their operational structure with industry requirements. The future of Data Analytics looks bright as a career and a subject for research.

Business Analytics is a niche space which requires trained individuals Big Data, statistics, analytics, probability, administration, and IT Outsourcing from India has grown vastly in the past few decades. Business Analytics is a niche space which requires trained individuals Big Data, statistics, analytics, probability, administration, and IT. With the easy availability of young and talented resources, the future of data analytics in India looks promising.

The Scope of Data Analytics in India

Business Analytics in India has remarkable prospects. A profession in Business Analytics is fulfilling and offers ample scope for learning and growth. Thorough knowledge of statistical techniques, quantitative capacity, business learning, logical thinking, Big Data, instruments to understand the accessible data, and asset management are some of the essential skills required to be a Business Analytics. Understanding the business situations and problem-solving abilities are other skills required.

Google Analytics Analyst

Future of Data Analytics in India

Extensive use of Big Data in India ensures high employment, increases the compensation and helps individuals to connect with the advanced technologies. Analytics can radically change the present business situation by capturing a large volume of data, expand business models, energize the imaginative procedures and overall growth and development of a company.

Use of Data Analytics in India

Business Analytics, which is a mix of current tools, analytics, programming, business administration, and IT is very much in demand. Business Analytics helps us to improve upon existing data, secure them and make them available for future use in a better and more productive way.

Finance, media communications, outsourcing companies, internet business companies are some Indian sectors that make use of Business Analytics. Banks use data mining methods to filter the populated data and break down the accessible data using a few devices to identify the potential hazard sections and helps them to minimize the risks. MasterCard companies use Business Analytics to keep fake account activities at bay.

Data security is a major concern for many companies.  Many issues with data security can be solved with Data Analytics. In India, resources may be utilized to garner data from deals agents, producers from the gear business, insurance agencies, by investigating the client data and securing it.

Data is distributed and scattered and needs to be segregated systematically through Business Analytics and standardize organizational structure. Many new businesses in India are using Big Data to pull out the essential and useful data. This has improved overall productivity and growth for the companies as well as their employees.

Indians Growing Big Data Future

“It is a big mistake to guess before one has data,” Sherlock Holmes noted in A Study in Scarlet. Data ceaselessly supported this celebrated expert investigator for deductive thinking to comprehend complex analytics. Accessibility and availability of data have expanded the adequacy of human instinct (central leadership) in each field of science, medication, and innovation. Big Data is coming from various sources at an alarming speed, volume, and assortment. And to extract significant incentive from this data, one needs ideal preparing power, systematic ability, and skills.

In this article, we will consider the different ways in which Big Data opens opportunities for growth for government companies, privately owned businesses or social sector businesses.

For those of you who are unaware of the vast possibilities of Big Data, a brief introduction is necessary., “Big Data” refers to the use of prescient analysis to analyze huge volumes of data to reveal hidden patterns, connections and important facts. This helps companies secure their data and create quicker and smarter business methodologies and productive operations, and ensure higher financial returns and client satisfaction.

The UN Economic Commission for Europe’s (UNECE) undertaking group on Big Data (2013)classified this vast volume of data into three groups:: Human-Sourced Information –(organized and regularly ungoverned data stored from PCs and interpersonal companies), Prepare Mediated Data (classified data stored in common database frameworks like the traditional business and regulatory data) , Machine-Generated Data (a substantial volume of organized data from sensors and machines used to record the events and activities).

A Director of Research Tom Davenport spoke to more than 50 businesses to understand the use of Big Data and how it impacts the future Of Business Analytics. His research showed that abridged that companies grew exponentially with the use of Big Data.

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India’s largest reviewer, the Comptroller and Auditor General (CAG), has drafted “Big Data Management Policy” for Indian review and records divisions trying to encourage the use data analysis to enhance their capacities. It means the humongous datasets of the union and state governments to be taken care of as to place a check in the Indian review and records office.

Lux Research analytic have assembled constant checking systems and associated stages to coordinate and send sensors and track different parameters to make logistics of immunizations and organic reagents more secure and more proficient in India by guaranteeing continuous accessibility of data and critical bits of knowledge to streamline their administrations. Similarly, DISCOMS accepts data from sensors introduced at the last mile of power utilization to break down alongside recorded measures to preventive measures for Aggregated Technical and Commercial (AT&C) misfortunes.

The business foresees massive development with aggressive use of cloud-based and prescient analytic arrangements in BFSI, retail, telecom and social insurance. India has 600 analytic data firms with 100 new businesses set up in 2015 alone. It would require a huge number of data researchers. As per TeamLease Services – a staffing arrangements company – by 2020, India will confront a demand-supply hole of 2,00,000 analytic data experts. The supply is short even in the US job market with just 40 out of 100 positions for data researchers being filled. To meet the demands, companies are looking forward to future-ready projects that require graduates in statistics, mathematics, and data storage skills. Thus, the National Association of Software and Services Company (NASSCOM) has proposed educational programs up gradation to incorporate Big Data and data analytic in engineering schools. Also, a Center of Excellence was started to help drive look into in the analytics space and reinforce the ecosystem.

Right now, data researchers with around 5 years’ experience are gaining more than 7.5 lakhs for every annum in contrast with 8-15 lakh for CAs and 5-8 lakh for architects with a similar level of experience. With the skewed demand-supply gap, the Data Analytics industry – at an existing base of $2 billion and developing at CAGR of 26 for each cent- is looking out for graduates.

Reliance Jio is so far, the biggest contestant of Big Data as disclosed by Reliance Industries Limited administrator Mukesh Ambani. Naming data the “oxygen of the computerized period,” Reliance imagines Jio as introducing advanced data abundance. Ever since its entry in the telecom sector, Jio expects to get a huge number of so-far left-out Indians to join the Digital India bandwagon.

Although a slower participant, Akshaya Patra Foundation in Bangalore has started using Data Analytics in identifying a cost-effective answer for conveying food to schools. Breaking down the captured data– the number of vehicles used, the time and fuel spent on each trip – empowered them in better management of logistics and lessening the courses by five.

Big Data has been a significant factor in improving private businesses and open goods and enterprises. This incorporates consolidating skill and personal asset improvement and creating items and stages to compliment the rising demand. NASSCOM expects India’s Big Data industry to form 32% of the worldwide market to reach $16 billion by 2025 from the present level of $2 billion.

To ensure the higher growth of Data Analytics in India consistent use of Big Data is essential. This will also open new doors of growth and opportunity in every sector. You may start as a Data Analyst, become a data scientist with some years of experience, and eventually turn out to be a data evangelist. Data Science offers lucrative career options in India and abroad. You may continue as a data scientist or move on to advisory roles in government or private sectors.

Good knowledge of data management, machine learning, and natural language processing solutions and leadership skills are some of the essential requirements for a career in Data Science.  Data Analytics courses will give you a thorough understanding of Big Data applications and fundamental principles used in predictive analytics. You will also learn to develop algorithms for the statistical analysis of Big Data, evaluate and apply appropriate principles, techniques and theories to large-scale Data Science problems. Go for an advanced degree in Data Analytics that will give your career the required boost.

Digital Vidya offers one of the best-known Data Analytics courses for a promising career in Data Science. Its industry-relevant curriculum, pragmatic market-ready approach, Hands-on Capstone Project are some of the best reasons for choosing Digital Vidya.

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  • There are 15 comments


    • 11 months ago

      amar   /   Reply

      yes there is use of data analytics in india widely.And its rapidly growing to a great extend.I also learned some good points about it and we can say that its future is depends on predictive statistics too.

    • 9 months ago

      Suresh Bhatt   /   Reply

      I am a Digital Marketer, just wanna know how data analytics can help me boost my skills in the same field
      Is there any mutual fundamental between these, in terms of job opportunities

    • 9 months ago

      Shweta Gupta   /   Reply

      Hi Suresh, My question back to you would be, that in your experience, the role of a marketer, and especially digital marketer, how much are you relying on data-based actions and decisions? Do you have the right skills and tools to do so, and do you see yourself adding value to your job profile by being a data-based data analyst? I hope you will answer these questions with retrospection and right level of honesty.

      The industry wants its digital marketers to be greatly driven by data and statistical analysis. The growth in this field definitely seizes those who bring the skills on board.

    • 9 months ago

      jaysh   /   Reply

      Data analytics work you can find how we work with sales, marketing, ceo, cfo to get oil rich information from data.

    • 7 months ago

      vaibhav a mishra   /   Reply

      i need some help on mobile SMS data analytics. i have a mobile application for loans and get user’s SMS downloaded with his consent. Now i need an analytics tools to analyse and structure those to further build analytics over it for credit score modelling.

    • 7 months ago

      Shweta Gupta   /   Reply

      HI Vaibhav, Your requirement is quite scoped and structured. You could probably do reasonable amount of analysis using Excel itself. For more complex modelling, you will have to use some other tools or have a tool developed using Python or R. Are you looking for a solution or you want to build skills to do this yourself? If former, you will need to talk to a consultant, as we don’t offer consultancy services. For building skills, we will be happy to help.

    • 5 months ago

      S C Ganda   /   Reply

      What is the best educational background after class 12 for this big data job market?

    • 5 months ago

      Shweta Gupta   /   Reply

      I will answer the question on Big Data job market from a technology standpoint. That means someone is planning to build a career in working with the Big Data platforms like Hadoop, Hive, Sqoop, Flume or real0-time analytics using Apache Spark, Apache Kafka.

      This means that one must build a strong foundation in Computer Science, so that one understand the concepts of computing, distributed computed, clusters, programming, databases, SQL.

      Recommended is a Graduation in BTech/ BSc-MSc Computer Science/ IT equivalent degree courses.
      This can be followed with Statistics and a Specilaization in Data Science/Big Data tools will make one job ready.

    • 4 months ago

      Ravishankar   /   Reply

      Hi Shweta – I have around 9 years of experience in Data analytical and mostly working with Excel, and SFDC metrics. As i am planning to change my job. What is the growth and maximum salary i would get in analytical path. your answer will be much helpful.

    • 4 months ago

      Shweta Gupta   /   Reply

      Hi Ravishankar, Every organization is looking to make data-based decisions. Your growth is directly aligned to how you leverage your skills to provide value to the company an its business.

      Salary question I refrain from giving as I have no ownership of this data. I would ask you to refer to websites like payscale that do gather this info from users and show some level of aggregation.
      There was an article on TOI where they share some insights on recent salary hikes.
      https://timesofindia.indiatimes.com/trend-tracking/data-scientists-get-most-salary-hikes-in-startups/articleshow/63604949.cms

    • 4 months ago

      Arjun Wilson   /   Reply

      Mam, I am a student doing MBA and here we have a specialization of data analytics. Dual specialization is available in our college so i was confused as to which goes better with data analytics? Is it Marketing and data analysis?, or finance and data analytics? i was actually hoping to work abroad… which would give me more job opportunity ?

    • 4 months ago

      Shweta Gupta   /   Reply

      Hi Arjun,

      This is a really tough one for me, asking me to chose your MBA Specialization. I even tried reading up a little for your sake (https://www.mbacrystalball.com/blog/2016/08/01/mba-specializations-list/), but I would really really ask you to make this decision for yourself based on your interest and other factors like opportunity landscape based on the country you want to go post your education.

      Data Analytics is key to all aspects of business and both marketing and finance have huge potential to enable any business to succeed with data.

      What I would definitely tell you is that you build strong analytical capabilities and know-how of tools so that whichever stream you take, you are someone who is known for data-based decision-making.

      Cheers,
      Shweta

    • 3 weeks ago

      Anubhav Anand   /   Reply

      Mam,i am a 4th year computer science student.can you suggest some courses so that i can get job in this field(data analytics) within 1 year.Please…..

    • 3 weeks ago

      Shweta Gupta   /   Reply

      Anubhav, We have an offering “Data Science suing Python” that will make you job-ready. You must do a lot of practice as data science is a competitive field and one must demonstrate the knowledge through lots of work and Kaggle projects.

    • 2 weeks ago

      ankit pandey   /   Reply

      what are the skills needed to become data scientist and get good salary job in future

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