Big data has attracted global attention since its very emergence as a buzzing trend. Currently, it is one of the most influential factors in the present technology market. It is the sole means of collecting, processing, and analyzing data, which can be derived from a wide range of different sources.
Top 6 Big Data Trends for 2018 - @Dexlabanalytics.
Volume of Big Data Market
According to a study by NASSCOM, the Indian analytics industry is predicted to reach $16 billion mark by 2025. If the prediction comes true, India will capture 32% of the global big data market. Now, we all know that big data is the biggest player in the Indian analytics space. The application of big data in Indian industries is not happening at an all inclusive scale yet the growth is exponential. The industry is expected to grow at a CAGR of 26% up till 2025.
Around 90,000 analytics professionals are currently employed by Indian companies. And there is still a fair bit of skill shortage. There are nearly 600 companies operating in the niche of analytics products and services, out of which 400 are startups.
The Impact of Big Data on Marketing - @Dexlabanalytics.
Big Data Influencing Governance
The Indian administrative body has recognized the power of big data and is keen enough to put it to good use. A shining example would be the Comptroller and Auditor General or CAG of India. This high-powered authority have drafted a ‘Big data management policy’, with a sole objective to audit better from the humongous amount of data generated by the public sector in the states and the union territories.
Data about power consumption is also being monitored. The data is compared to historical data in order to draw patterns.
Digital Space in India
It would be unwise to say that digitization had reached every corner of India – some of it is still held up for distant future. But what we can say is that more corners of India have come under the umbrella of big data in the last year than ever before.
Currently the internet usage rate in India is next to the US. Very soon India will have the highest internet using population as well as the highest smart-phone using population across the globe. Indeed, this has changed the big data market forever.
Industries Inspired by Big Data
A considerable number of industries have taken a step forward towards big data analytics. Take a look at a few industries that witnessed spiked growth trajectory after big data revolution:
- Finance and banking sector - Big data has emerged as a great way for financial firms to evade risks and minimize losses. Most finance based companies and banks keep a database of taxpayers and borrowers. They analyze historical data to ensure safe returns of their money. While it is understandable that the prediction may not be full-proof all the time, finance corps reportedly are happier after implementing big data analytics.
- Healthcare - There is a lot more unstructured data lying idle in the health sector than we can possibly imagine. It starts with the prescriptions and goes right to the insurance claims and critical diagnostic tests. This data can be turned into actionable resource with the help of big data analytics. It is unreasonable to think that India struggling to provide efficient rural health support across the country will efficiently employ big data in a large scale to improve health care services right now. But the hopeful thing is that it is happening, though at a slow pace.
2. As automation steps in, it will be compulsory to employ analytics.
3. The perks of using predictive analysis in diagnosis and prescription are surfacing fast.
The point is that the application of analytics in healthcare will surely make services swifter and more easily available for the mass. Just like finance, administration and health care, the defense sector is also making good use of data analysis to enhance the security systems.
Building the Workforce
The primary concern about the big data analytics space has been an acute shortage of skilled hands. India is dealing with this problem with surprising vigour. There are a considerable number of analytics institutes in India that are providing training for both the fresh and the experienced candidates. The state of the art training facilities are available in Delhi NCR and Gurgaon. And DexLab Analytics is one such influential big data training institute in Delhi that churns out a large number of accomplished analysts every year, fed with an adequate knowledge on big data Hadoop. For more information, do check out our official website.
No comments:
Post a Comment