The year 2014 witnessed phenomenal maturity of the Indian Analytics industry. We have seen all our predictions for 2014 come true and they crossover to 2015.
As we continue to trace the Indian analytics trajectory, here is the list of Top 11 Analytics Predictions for 2015.
- Analytics talent development on an all-time high
We expect to see increased focus on the development of analytics talent. From Big Data to a wider spectrum of software applications, analytics tutoring shall be more intense. The focus will be on real-world problems and domain knowledge.
With analytics applications expanding to technology investments in smart cities, wearables, telematics and governance, engineers and MBAs with analytics skills will be in high demand.
- Personalisation will be the mantra
Personalisation will be the Mantra of 2015 as businesses across all sectors zero-in on their perfect customers. Highly personalised recommendations and offers will dominate, as businesses aim for a higher ROI.
- Big Data-as-a-Service / Big Data-as-a-Revenue market grows bigger
The Big Data ecosystem will finally get a strong foothold in India, as barriers to adoption break down. Increased investments in technology and Big Data training will be harvested in 2015. The market for Big Data-as-a-Service will accelerate with more models providing ready-made analytics in the cloud or as apps. Growth will be maximum in segments of analytics, professional services, apps and vendor products.
- Analytics is core to consulting operations
Management and Strategy consulting firms increasingly tackle multi-dimensional issues across various siloes of an organization. Analytics will become core to consulting operations (including GIS-driven) and analytics hiring by consulting firms will increase.
- Digital analytics becomes all-pervasive
The world looks at tapping the vast Indian consumer base. Trillions of dollars are being pumped into the Indian economy – from funding of retail / e-commerce operations to investments in insurance, technologies and the automobile industry. In this scenario, customer satisfaction holds the key to business success. So Digital Analytics becomes all-pervasive in 2015, with increased adoption across all sectors and verticals.
- Analytics deployment in governance
Big data and analytics strategies are expected to be used – driven by the National e-Governance(NeGP) plan. In crime response, tax collection from defaulters and various e-governance schemes. Implementation will grow rapidly with local government trickle down. Especially in tech savvy States (Karnataka, Maharashtra, Andhra Pradesh).
Yes, we can hope to see Government jobs wowing analytics students!
7. Innovative service models and niche deliveries
Indian Analytics industry has a kick-start with a highly tech-driven ecosystem. This will translate into more innovation in service models and solutions in niche areas. Indian analytics products can be expected to dominate the world market.
8. Big data becomes social
As R&D initiatives begin to leverage insights from big data, we can expect to see a rise in big data deployment in the social sector. Areas like climate science and resilience building, education, social services, disaster response, welfare initiatives, disease surveillance, will leverage Big Data analytics.
9. Wearable data used for actionable insights
User data tracked by smart wearable devices is no longer the exclusive domain of the user. Healthcare, insurance and retail companies are keen to access this data. As the wearable technology market expands and devices get more connected, these companies can be expected to leverage this ‘always-connected’ data for incentives, risk calculation and personalized offers.
10. Analytics in telematics becomes ‘hot’ in Insurance
SaaS (Software-as-a-Service) solutions leveraging analytics will be prolific in telematics. Analysis of contextual data from connected vehicles will find numerous applications in insurance, fraud, warranty claims and other solutions. Cognizant, TCS, Wipro and L&T Infotech have only just scratched the surface of what will emerge as a huge market.
11. Analytics for smart cities
The smart-cities initiative by the Government will usher-in an increasingly data-driven urban ecosystem. In the year 2015, analytics deployment will find new applications, with predictive and prescriptive models being used for a smart integrated Decision Support System (DSS) for cities. This will only be the tip of the iceberg. The potentials of analytics in utilities, crime intelligence, disease control or disaster response in an urban landscape, remains unlimited. As Smart City technology investments increase steeply with various tie-ups on board (Japan, China, U.S.), diverse information flowing from routine municipal activities, services (such as utility grids), and reports (like police statistics), will deploy analytics for efficient cost-effective governance.
Bottomline: We predict 2015 to be a milestone year for the Indian analytics landscape.