Big data analytics has become a true gamechanger for the business today. Transforming data into actionable intelligence helps organizations to become nimbler and create new business opportunities.
More and more organizations today are turning to predictive analytics to gain a competitive advantage. Besides business, the analytics wave is embraced by government agencies and non-profit organizations as well, for public welfare and social well-being purposes. Big data analytics is serving a number of critical humanitarian needs, whether it’s helping fight cancer, preventing child abuse or saving endangered species.
MARKET DYNAMICS
Being the world’s favourite destination for IT outsourcing, India is today among the top 10 destinations for analytics as well. India’s analytics exports to major economies such as the United States (US), the United Kingdom and Australia are also growing significantly.
The revenue of India’s analytics and business intelligence (BI) software market will reach $304 million in 2018, an 18.1 percent increase over the past year, according to a Gartner forecast. By 2025, analytics, data science and big data in India is expected to become a 20-billion dollar industry.
The growth in this market is due to more and more Indian organizations moving from traditional enterprise reporting to augmented analytics tools that accelerate data preparation and data cleansing, said Gartner.
Generally, three types of analytics solutions are available in the market today: descriptive, predictive and prescriptive. Descriptive tells you what happened. Predictive tells you what will happen. And prescriptive analytics tells you what actions you need to take. While businesses are using all three types of analytics these days, it is machine-assisted predictive analytics, where customers see the most value in.
BFSI sector continues to be the largest buyer for analytics in India, followed by Marketing and Advertising, and e-commerce, retail & CPG, and has been rising in the Telecom, Pharma & Healthcare and Travel & Hospitality as well.
VENDOR PLAY
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
How big is India's Computer Accessories Market? Innovations expected by FY25
India’s computer accessories sector grows with Make in India, Digital India, and rising demand for high-tech accessories like AIl-powered devices, boosting exports globally.
When Network Threats Are Not Allowed to Check-in
Like elevators, networks in this hotel are segregated for guests, for service, and locked for outsiders unless they prove bona fide. Does this approach work?
Robotic Surgeries can turn into double-edged Swords
Technology should never come at the cost of affordability, privacy, training ease, the ability to practice anywhere, CRM’s real use and sensitivity to patient experience. Surjeet Thakur, CIO Rajagiri Hospital, Kochi gives us an X-ray from different angles.
Does Santa Claus watch when you pay rent on time?
If yes, what kind of diary does he use to distinguish good kids from delinquent ones? And what stockings can you hang to translate this good behaviour into rewards home loan discounts, prop-tech speed, landlord KYC or more?
Roadmap for Bank-based Apps to Gain UPI Market Share A missed opportunity!
As UPI dominates, will banks step up to reclaim their market? UPI continues its meteoric rise, handling 69.6% of India's digital transactions and reaching ₹20.6 lakh crore across 14.8 billion transactions in August 2024 alone.
The Future of Machine Identity
The biggest challenge today in the digital security sphere is securing machine identities -the digital entities such as APIs, software applications, and IoT devicesthat are constantly being targeted due to the changing nature of cyber threats.
Redefining AI Application Delivery
In this discussion with F5’s Ahmed Guetari and Adam Judd, we explore the collaboration between F5 and NVIDIA, which leverages the innovative capabilities of NVIDIA's BlueField-3 DPUs and F5’s BIG-IP Next platform. This partnership is set to redefine AI application delivery and security, particularly in the high-growth Indian market, by enabling better resource allocation, faster data processing, and robust security enhancements. With AI adoption surging across industries, F5 and NVIDIA's synergy brings transformative solutions for service providers and enterprises, poised to drive India’s AI-led innovation.
EPAM's Bold Leap: Transforming Business with Al-Driven Salesforce Solutions.
Siba Padhy, Head of Salesforce Business, EPAM Systems highlights how Salesforce has evolved from a core sales solution to a comprehensive platform that encompasses service, marketing, and commerce, with a significant emphasis on leveraging AI technologies, particularly the newly launched Agentforce and Einstein GPT. Padhy discusses the burgeoning agent tech economy in India and EPAM's strategic focus on delivering tailored solutions that address specific market needs. With ambitious growth targets, EPAM aims to double its Salesforce expertise in the coming years, positioning itself as a key player in driving digital transformation across various industries.
The Smart Manufacturing Revolution in India
Explore how cutting-edge technologies are redefining manufacturing in India, shaping a future where efficiency and sustainability go hand in hand.
Digital Governance: Changing that Red Carpet into a Green One
India's approach and success stories in digital governance show how technology should be used to cover the entire carpet area - From expanding inclusion to the digitally not-so-savvy folks to strengthening interoperability - we have made sure the grass is green, every side
