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How Big Data is shaping the Indian Market

Data analytics has actively changed the Indian economy for the better. What had started at the beginning of the decade as a mere buzz shook the whole world by 2015. The worldwide big data industry has grown in such a pace and to such an extent that there have been anticipations about its saturation. A lot of discussion has happened about the practicality of big data analytics. Students are often misguided as to avoid the industry since it is only for experienced workers. All this buzz comes quite naturally with an industry that has grown like wildfire.

But can we call big data analytics an industry?

You can actually consider it as an industry. Why not? It employs people with similar skill sets, has many factions; it is developing continuously and influencing the global economy quite evidently. Definitely it can be called and be compared with a large scale global industry. Then again you realize that it is in fact an integral part of various different industries. It is more like a chemical compound that is being used in every laboratory rather than being a laboratory in itself. The role of big data analytics can only be compared to that of electricity. It might sound exaggerated but I could hardly find a better analogy.

Shaping the world
Information is the most powerful currency in the world right now. The right information at the right place can make or break your fortune. This reverence and fear for information is what has helped big data grow so big. Large enterprises, SMBs and startups are implementing analytics to find insights that can guide their decisions. It is not merely a trick to understand consumer behavior applied by e-commerce companies, it is currently helping every single industry to map out there steps. With the current competitive scenario big data analytics is Providence.

The Indian market

Indian firms are far from wholesomely implementing big data analytics for better business decisions. That is why only 4% of the analytics industry revenue is drawn from domestic Indian firms. There are some large scale companies which have been using data analytics and advanced analytics for better business since a long time ago but most Indian product and retail based companies are yet to integrate big data.

But this doesn't mean that Indian analytics industry is stagnated. The annual revenue generated by Indian analytics industry is $2.03 billion. So where does this revenue come from? From the analytics exports made to USA, UK and other countries. Exports to USA alone generates 60% of the revenue. Delhi and Bangalore are the highest money makers from data analytics. No wonder data analytics courses in Bangalore surpass the courses offered in any other city in quality and effectiveness.

What are the industries that have integrated data analytics the best?
This question has an easy answer. Finance and Banking industry makes the most prolific use of data analytics. These are followed by the marketing and e-commerce space. Security, healthcare, logistics etc. are moving forward in a gradual pace.

Job market

The big data analytics industry is recognized for the huge skill gap. Last year 8000 fresh analytics professionals were added to the workforce in India, this year the number has grown to 12000. It is making a genuine effect on the job market and a lot of demand is to be fulfilled. Availing a data analytics course in Bangalore can be your key to enter this lucrative line of work. 
How Big Data is shaping the Indian Market How Big Data is shaping the Indian Market Reviewed by Lokesh kumar on 3:08 PM Rating: 5