A wide range of Industries all around the world currently depend a great deal on big data analytics – to make critical business decisions; to serve their consumers better and to get noticed by a larger number of potential customers. Keeping the commercial value aside, the social contribution of big data analytics and data science to the world is also coming to the forefront. Medical science is the biggest example. A considerable amount of data scientific measures are applied in order to determine diseases or for prescribing medicines. Well, all of this is happening all around the globe India is trotting along, catching up. The idea of big data analysis has almost started a revolution in the business world – India is very much a part of it; as a market, a talent pool and as the accommodator of numerous budding analytics firms.
Big data is understandably associated to growth. The main purpose of applying data analysis (though there are exceptions) is discovering critical insights to expand the business and increase the revenue. It is a boon for the small and midsized companies and start ups which find it difficult to compete with the large scale businesses. They cannot invest as much on marketing and often find it hard to be noticed by their potential customers. With the help of analytics these firms can direct their advertisements to the right audience. Apart from these following the trend in consumer behaviour can often reveal their next possible requirement. Although big data analytics requires a significant amount of investment the emergence of open source tools has helped the low budget projects somewhat in their efforts to find a firm place in the industry, still they have to participate in a fierce competition for skilled analytical talents.
India has always been a cost efficient source of technical talent for global companies. The analytics industry is hardly any exception. There is heavy outsourcing to India. The good news is that India has thousands of analytics firms of its own. Bangalore being the IT hub is also the centre of growth for Indian analytics industry. Big data training facilities in Bangalore are crucial to supplying the requisite work force to run the industry.
Indian analytics industry is growing at a CAGR of 30.5%. The domestic industry is primarily based on service based companies. That means firms that provide analytical assistance to other companies. The reason behind the flourishing of these service based units is the fact, that most Indian product based companies are yet to have their own analytics teams in place. A staggering 200,000 Indians are working for foreign analytics firms whereas the number of professionals working in domestic firms stands at around 50,000.
The good news is that this number is also growing quite rapidly. Bangalore and NCR are playing a vital role in moving the domestic industry up the ladder. Institutes for best big data training in Bangalore and NCR are playing a vital role in keeping these firms supplied with talent. A lot of industries are dependent upon analytics solutions provided by other firms, at the same time a lot of firms are dependent upon the analytics talents from India. A great symbiotic ecosystem is forming in India, the growth of which will definitely play a vital part in the nation’s economic development.