Now that 2014 is coming to an end, we thought it’s a good time to understand where we are in the whole analytics journey and what to expect in future. We surveyed analytics leaders in India to get their thoughts on some of the key trends in analytics and Data science.
Below we have compiled the top 10 most relevant analytics trend for the year.
Indian service story till now has mostly been that of scale. We have successfully deployed some the biggest IT and BPO projects in the history. Yet, with analytics, the same service models may not be the best bet for India’s success in this new industry.
Pavan Bagai, President and COO, EXL says, ” Successful analytics service provider operating models and relationships with clients will begin to resemble the Japanese Keiretsus rather than traditional arms-length outsourced relationships: For analytics to be successfully outsourced to a service provider, the relationship can’t be transactional or rule-based.
The provider teams must feel like remote extensions of onsite internal teams and must be treated as such. Only then will clients extract the true value out of analytics service providers in a sustained fashion. Without this operating model, jaded and disenchanted clients will leave a lot of value on the table or abandon their analytics initiatives altogether.”
Indian service story was also frowned by many as not innovating many products out of India. This seems to be changing with analytics.
According to Suresh V Shankar, Founder, Crayon Data says – “Service companies are the past, Product companies the future.”
Akash Bhatia, Co-founder & CEO at Infinite Analytics, says “The ability to link and merge all massive data sets and to provide actionable insights along with the action into a product, rather than a service, is going to be the most important trend emerging in the analytics space.”
Pavan Bagai, President and COO, EXL says, “Tradition strategy consulting firms will try and provide analytics (or analytics driven) services: Clients have decreasing budgets for strategy but larger budgets for data and analytics engagements. So strategy companies – either through acquisition, partnerships or home-builds – will aim to offer analytics to their clients.”
Gaurav Vohra, CEO at Jigsaw Academy, says – “Retail is undergoing major upheaval in India. With more and more brick and mortar retailers putting their resources in the virtual space to compete with e-tailers, the boundary between real and virtual is fast disappearing. As a result, the retail sector is becoming tremendously competitive. We are seeing retailers (online and brick and mortar) investing heavily in talent and technology for advanced analytics. Retail in india is becoming very analytics savvy.”
Pavan Bagai, President and COO, EXL says, “Analytics talent development will become collaborative – increasingly leading providers will partner with educational institutions to create analytics training programs that are more aligned with the required skill sets. This will have a dramatic impact as it will expand the career options for most students. This will be critical for India to maintain its positioning as an Analytics powerhouse.”
Ritesh Bawri, Founder, Quantta Analytics says, “As it becomes increasingly possible to connect technology to the exact location of a person on a desktop or mobile, solutions will emerge that will leverage this knowledge to provide solution that are context aware or understand where you are in the physical world to provide you solution that suit your immediate need.”
Ruban Phukan, Co-Founder & Chief Product Officer at DataRPM, says “The next huge revolution that is coming to the industry of analytics is the emergence of Smart Machines. We have already seen smart machines making the world better in consumer tech like Siri in iPhone, Google Now and others. Now smart machines are poised to revolutionize the enterprise tech world with IBM Watson already making big waves in healthcare knowledge discovery and startups like DataRPM in enterprise data discovery.”
According to Lavanya Uppala, Practice Head, Data Analytics, Robert Bosch Engineering – “Holistically analysing sensor data from various sources will be the backbone for smart living”.
Ritesh Bawri, Founder, Quantta Analytics says, “Technology will migrate from the computer to becoming an integral part of everything physical. All physical products – your car, your house, the street lights your phone will talk to each other to provide a superior world for human beings.
Gaurav Vohra, CEO at Jigsaw Academy says “We are seeing that increasingly companies are looking for skills such as R, Python, hadoop and other open source technologies.”
Puneet Gupta, CTO at Brillio, says – “On the analytics & big data technology side, credible alternatives for big data processing on cloud will begin to gain acceptance, with Google BigQuery, IBM Bluemix & Amazon Kinesis likely to gain more traction.”