Last updated on June 15, 2017
Several trades have taken the back seat as the analytics industry thrives in India. The growth of analytics in India is a matter of interest for Indian and foreign investors alike. The startups have found a profitable role in providing analytics service to companies that need analytical support but cannot afford to have their own analytics teams. Then there are of course others who are charging with all they have got to establish a top notch analytics team. Brimming with the excitement of new possibilities big data has taken a front seat in the Indian commercial space.
The most imperative moves are being made in Bangalore. The city continues to grow as a hub for small, mid and large sized companies that are contributing in building the analytics ecosystem in India. The Indian NCR is another crucial role player in the growth of the industry. That being said, a lot of companies are finding it difficult not to have an outlet in Bangalore, such is the position of this city. When it comes to technology, you cannot ignore Bangalore.
A lot of talks have brewed around the formation and growth of the Indian analytics industry. What should not escape our attention is the workforce that keeps the scene running. Data analytics is a comparatively new discipline and has yet to be adapted by conventional education bodies in an effectual way. So, what prepares our youth for the all important roles as data analysts? The role of data analytics institutes in Bangalore, Delhi, Mumbai and few other cities of India, has been seminal. Institutes like Analytixlabs that have been operating successfully from the NCR are now finding their way into Bangalore. It is the heart of the movement and it is necessary that the best analytics institutes are there in Bangalore.
2500 analytics firms were operational in India in 2016. The number must have gone up quite a bit this year, because the rate of increase in the number of companies was 27% between 2015 and 2016. This shows us a trend and indicates clearly to the foundation of a vibrant analytics ecosystem in India. The E-commerce industry is paying their analysts the highest salary; averaging 12.5lacs per annum. This is not at all surprising because the E-commerce platforms by nature need to count heavily upon data analytics to get their brands afloat in the competitive currents of the fast growing Indian market. Other major industries that are employing data analysts are retail, financial services, manufacturing, healthcare, etc. Around 300,000 Indian analytics professionals are currently employed by various domestic and foreign enterprises. Although skill shortage threats for India are not as outrageous as that for the USA but still it is going to take a hefty lot of skilled analysts to run the industry. It is reassuring to know that every data analytics institute in Bangalore, Delhi, and Mumbai etc. are playing a proactive role in this regard.
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