“Arguably, the most important evolution in the history of mankind is the ability to understand what data you have, what data you can get, how to organize and ultimately how to activate the data” – Mark Flaharty
Availability and accessibility of data have expanded the adequacy of human instinct. With a large volume of data available for analysis, the innovative evolution has an immense chance to infer at conclusions now.
For past couple of decades, India has been the ‘global capital of outsourcing’. But today almost every major enterprise is setting up their development as well as data science divisions in India - identifying new opportunities, creating smarter methodologies, building productive operations and focusing on client centricity. Alongside, there is a rise of Indian companies dedicated to building products and services based on AI and Data Analysis. India, at present, is on the cusp of technological growth and is among the top 15 nations in data analytics.
Research shows that by 2020, India will confront a demand-supply hole of around 2, 50,000 analytic data experts with a goal of improving the future of data analysis.
It is developing exponentially with big data analytics -that is used by government offices as well as privately owned businesses.
NASSCOM (National Association of Software and Services Company) predicts that India’s big data industry will catch 32% of the worldwide market o reach $16 billion by 2025 from the present level of $2 billion. It has thus proposed an upgrade of educational programs by incorporating big data and data analytics in the curriculum for graduates and initiating interesting projects that aim to prepare graduates in mathematics, statistics, data analytics and storage skills.
Coming decade foresees Big Data moving to a new stage of maturity, promising great business impact in India. With Big Data coming from various sources at an alarming speed, volume, and assortment; extracting significant incentive from this data requires ideal analytic power, systematic ability and skills. As a result, businesses are now merging the scale of Artificial Intelligence and the agility of Big Data processes to accelerate their business value and returns. The convergence of Big Data with AI will emerge as the single most important development that will shape the future of data sciences in India.
With numerous tech giants and startups already exploring the ‘Big Data’ and AI ecosystem, data sciences are expected to grow with better use cases in the coming years giving significant prospects, opportunities and lucrative employment to the data scientists. Thus, making India the largest data analytics market of the world!