Top 11 Analytics Predictions for 2015

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.

  1. 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.

  1. 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.

  1. 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.

  1. 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.

  1. 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.

  1. 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.

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Why should MBAs consider analytics as a career

Last month I had mentioned why Analytics reigns supreme among Engineering graduates.  Now I shall tell you why MBA degree holders are also opting for analytics as a career!

To begin with, a significant chunk of analytics hiring is happening across all industries. Work profiles are crossing over to various functional skills. Middle and senior positions now require management degrees with add-on certifications and skills.

What else is new?

  • Start-ups have joined multinationals in the race for recruiting MBAs equipped with analytics training.
  • E-tailers, Retailers, Banking & Financials, Consulting firms are the highest recruiters
  • Top notch Strategic Consulting and Financial firms are looking for Analytics training in their Management graduates hiring.
  • Highest salary offers in Analytics are from Insurance, Banking and Financial.
  • More international firms are scouting the Indian landscape for both entry-level and senior positions, that call for management + analytics
  • KPOs /BPOs have notched up their demand for MBA + analytics
  • MBAs in Finance / Retail / Marketing + analytics are in highest demand, followed by Operations, Logistics, Risk and HR.

Consulting firms are emerging as ‘one-stop shops’ for multinationals, the government and Big Data implementing companies and start-ups. With innovations and emerging techniques driving expansion plans, a balance is much needed for an effective ROI. The traditional hiring of MBAs now additionally requires i) analytics skills, ii) software experience and iii) knowledge of the Big Data ecosystem.

Hiring companies and captive centres want MBAs with technical skills and high competencies for deriving data-driven insights.

All of this adds up to one thing. You need to add an analytics certification to your MBA degree.

An MBA degree + Analytics = career trajectory that crosses over to senior management

How to know if you are analytics-ready

Are you a data geek?

Do you like to work on the Cloud or with Dashboards? 

Is domain knowledge (digital marketing, insurance, banking, ) your forte?

Does new technology excite you?

Do you like working with software models?

Is working in a high profile consulting firm on your wish-list?

Are you a leader?

If you are an MBA and tick any of the above, then you should consider Analytics as a career.

Advantages are plenty:

  • You have the opportunity to thrive in a functional area of your choice (Digital marketing, Retail, Supply Chain, Backend Operations, Management consulting, etc.)
  • You can leverage your MBA in a data-driven decision making environment.
  • You can command a premium salary package with minimum investment of time and money.
  • You have the edge over other analytics professionals, with your MBA degree.
  • You have great scope of working with global firms and shorter time-to-senior management.
  • You have great potential of career growth with excellent packages & benefits
  • You can create your own niche /expertise to establish your unique professional standing in the domain you choose to focus on.

If you are still wondering who hires an MBA with an Analytics add-on, here is a pointer:

Big Data Players, E-Commerce / Digital Marketers, Retail groups & chains, Insurance companies, Banking & Financial Service providers, Pure-play Analytics companies (offering customised solutions / products in Retail, e-Commerce, BI, etc),  Analytics/IT     Vendors, Analytics / BI providers, Analytics Apps Developers,  ITES. FMCG, Consulting firms, Start-ups in various sectors, and so on.

Bottom line: A stand-alone MBA is not sufficient to succeed in an increasingly data-driven environment. As MBA + analytics becomes the latest rage in the hiring landscape, it is time to look up an IVY Professional Course in Analytics

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