At the Big Data & Analytics Summit, organised by NASSCOM at Hyderabad International Convention Centre, to showcase how organisations are creating value by leveraging analytics across industries, National Association of Software and Services Companies (NASSCOM) and Hansa Cequity released a report on the Analytic Maturity of India. The report titled, “Application, Innovation and Maturity of Indian Analytics”was released as part of the Big Data & Analytics Summit organised by NASSCOM at Hyderabad.
As part of the study, 12 pioneering examples were selected for special recognition and the companies that executed those projects were honored at the NASSCOM Big Data & Analytics Summit. These include Agora Analytics, Capgemini India, Citibank India, Delhi Integrated Multi-Modal Transit System, EXL Services, Fractal Analytics, Genpact, Gramener, iConcept Software Services, Rolta India, Siemens, and Swiss Re Shared Services. The report also features the ‘Top 50’ case submissions.
The study found that Organisations are increasingly ‘competing on analytics’ based on Insights from integrating institutional data, social media data, and machine data.
The report also emphasized that analytics solutions have matured from business intelligence and reporting into the realm of predictive and prescriptive analytics such as forecasting, scenario planning, simulation, optimisation, complex risk modelling, NLP etc. And that the industry is enhancing capabilities and moving towards productized analytics solutions by embedding domain expertise, understanding of customer business and deploying deep analytics expertise.
The Hansa Cequity-NASSCOM reports also points out the growing importance of the big data in the industry.
“Industry is offering solutions spread over industries such as Agriculture, Banking, and Mining to Government agencies. Many local government agencies, on a very positive note, have been early adopters of analytical solutions to provide better citizen centric services,”
the report added.
MohanaKrishnan, Director, NASSCOM, said “Disruptive technologies, informed customers, rapidly changing business models are presenting challenges as well as opportunities for enterprises to explore innovative solutions available in the ecosystem. The need for drawing better insights from huge volumes of data has fueled the need for innovative analytic solutions.
The depth, breadth, innovation and maturity of analytics solutions from India is not only fascinating and has led industries such as banking, retail, mining, aviation, agriculture, government, transportation, hospitality, and energy and utilities to quickly adopt and bring enhanced competitive advantage.”
Swaminathan, Co-founder and CEO, Hansa Cequity commented that, “At Hansa Cequity, we believe that Data is the new fuel and competitive advantage for the enterprise and Data-driven marketing will become the new normal in companies. The study proves that India is now ready to make the big difference in the way global companies make decisions.”
While sharing his views on the initiative, Ajay Kelkar, Co-founder and COO, Hansa Cequity, said “Data scientists were ranked by HBR as the sexiest job of the 21st century. Cequity assessed the work done by participating Data science teams along with NASSCOM and used their Smart Analytics Impact™ framework to assess the more innovative case studies. This Research demonstrated that a vibrant ecosystem for analytics has developed in India.”