Ivy Jun 30, 2014 No Comments
We are back with a wrap-up of what’s been happening in June in the Indian Analytics industry.
Reports and Market Projections
# The projection of the Indian analytics market gets better and brighter, with the latest verdict delivered at the NASSCOM Big Data and Analytics Summit 2014 held in Hyderabad on June 27th.
“Analytics market in India, which clocked revenues of about USD 1 billion in the last fiscal, is expected to more than double it to USD 2.3 billion by the end of 2017-18 fiscal.”
This poses a challenge for the analytics industry in finding resources like “domain knowledge” besides business and programme management skills.
# NASSCOM intends to make India a centre of excellence for data analytics for the world. Addressing the inaugural of the Big Data Analytics summit, Keshav Murugesh, Nasscom’s Big Data Analytics Interest Group, said more and more companies will have chief data scientists and chief analytics officer.
Good news for wannabe analytics professionals!
New launches – start-ups, services, vendor products
# Yet another Indian start-up focuses on online retailing. Infinite Analytics (conceived at MIT) is backed by internet pioneers and global investors . It taps the enormous potential of the e-commerce market with the promise of real-time predictions of consumer trends and preferences
# As the power of Analytics becomes popular, Microsoft launches the all-new Microsoft Azure Machine Learning service – a fully managed cloud service for building predictive analytics solutions into common machine learning tasks – with the intention of bringing predictive analytics to the masses.
# India’s leading digital content solutions provider, Tangerine Digital, has announced the launch of its Analytics Driven Content Services to aid FMCG companies enhance their customer engagement across digital platforms.
# Data analytics software vendor SAS too gears for analytics learning. It recently launched the free SAS University Edition, which is expected to help the higher education sector generate statistical skills needed to fill the big data skills gap. The package includes access to the SAS Analytics user community, for user-interaction, idea-sharing, and SAS resources.
# In the application domain, the Kolkata Knight Riders (KKR) applied SAP Auction Analytics to gain a competitive advantage over other teams by picking the right players at the right price.
The SAP HANA based platforms including SAP Auction Analytics, SAP Game Analytics and SAP Lumira enabled KKR “to evaluate players during the auction, derive post-game analytics following each of the team’s games, and drive fan engagement respectively, during the Pepsi IPL 2014”.
# This Blog earlier highlighted the deployment of analytics in online retailing. Now Flipkart announces the use of Analytics to help SMEs scale up business. It intends to provide micro, small and medium entrepreneurs in India with infrastructural support in data analytics, marketing and customer acquisition.
“With the help of strong data analytics that forms the base of e-marketplaces, it is easier for sellers to improve their products and services, thereby attracting more customers”.
Acquisitions & Market expansions
# Indian firm Miles Software Solutions has acquired Mumbai-based startup Beans & Intellect Financial Technology to enhance its wealth and asset management solutions. Beans & Intellect provides portfolio risk analytics technology to financial institutions in India, the Middle East and South-East Asia.
The acquisition will not only help them analyse their customers in the next two years’ persepctive, but also give them a competitive edge.
# Tableau Software, a global leader in rapid-fire, easy-to-use business analytics software, has announced its launch in India.
# After Mumbai and Gurgaon, Data Analytics firm Fractal Analytics is all set to launch its office in Bangalore, with plans of investing $20 million over the next three years. The Bangalore office is expected to have 300 staffers, mostly fresh students.
Legalities & Regulations
# From online retailers to companies – all firms outsourcing work to Indian back-offices, ITES, and analytics firms will be required to register in India. This will regulate operations in the context of the Companies Act of 2013.
# Sapience Analytics received the coveted Frost & Sullivan ICT Award for Product Innovation in Functional Analytics. The award “recognizes the unique solution for transforming enterprise productivity developed by Sapience Analytics, the business value t it is creating for a large number of enterprise customers, and its exceptional market traction in the year 2013-14”.
# Flytxt, a Bid Data Analytics solution partner for more than 50 Communication Service Providers (CSPs) was recognized as an exemplary leader in marketing analytics at the Frost & Sullivan ICT Awards. Flytxt enables CSPs to reduce (customer) churn, enhance customer experience and generate new revenue streams through its integrated multi-dimensional analytics powered solutions.