2015 created a ramp for analytics in India; in 2016 the industry took off; now, in 2017 it is rising steadily and promisingly. The Indian market was a little late to respond to the worldwide buzz of big data, but now as it has responded, India is playing a role in the global analytics ecosystem. A lot of American and European companies are outsourcing analytics talent to India – a large number of them are operating from captive centers located in different cities of India. Nearly 200,000 thousand Indians are working in the field of data science and analytics. As I mentioned earlier, the Indian ship of big data analytics is soaring high.
The industry is off to a good start but the companies are yet to be tested properly with the petrifying issue of skill shortage. Actually, a very small number of Indian enterprises have really gotten into big data analytics. India is replete with small and midsized enterprises that silently take a vital part in India’s booming economy. These companies belong to a wide range of industries, from manufacturing, retail, pharmaceuticals to tourism and education. These enterprises mainly operate locally and, although they invest a considerable amount marketing and advertisement, they hardly pay any heed to data analytics or any kind of database maintenance for that matter. But eventually, as the market grows, more competition chips in and life expectancy increases, a lot of these companies are going to need analytics support – and we are talking about a lot of support here. Anyway, this kind of speculation itself should need a lot of analytical studies to find any concrete statistical outlook but the inevitability of this is undeniable. The point of mentioning all these things is to bring forth, with more force, the all-important topic of skill shortage.
Indian analytics space has been growing at a CAGR of 23.1% since 2015; the domestic space is yet in its infancy but with storage infrastructure, networking and computing infrastructure improving at a CAGR of 22%, the analytics industry should mature very soon. And as we can quite logically speculate, a lot of new enterprises are going to come under its wing, creating a lot more vacant places than can possibly be filled. So students need to be guided toward the analytics and data science training institutes, not only for the sake of their own personal development but also because the economic growth of the nation depends on that.
Bangalore has been the most active analytics hub in the country. 40% of all the analytics ventures in India spring out of this city. Best Data science institute in Bangalore needs to play a definitive role in shaping the data science workforce. The firms that are operating in the field of information management, security, software application and analysis are growing quite rapidly and need to remain supplied with talents. IDC predicts that Indian analytics market will touch $57 billion marks by 2020. The importance of a well-trained workforce to reach this feat does not need any elaboration. And if you are an aspiring analyst rest assured that this is the right time to step ahead.