Analytics in India

Analytics is basically about digging deep into data to discover relationships, find causation, and describe phenomena. It is an attempt to understand historical patterns to predict future performance or, in the a few cases, provide information to support decisions in real-time.

Today, the latest trend in outsourcing has been the outsourcing of high-end knowledge work to India. Indian analytics service providers have been providing global organizations with technology-driven analytics services. Analytics outsourcing decisions are driven by factors like Focus on Core business, specialists taking care of high-end analytics work and Leverage Cost arbitrage advantage.

From finance sector to retail and telecom, analytical solutions have proven to be highly beneficial for business performance. Where you have a data, you can have a solution to analyze that data and provide you information which can be used to optimize your business processes. For example: In retail, by knowing your customer, analyzing their behavior you can optimize your marketing expenses and spend per customer. Similarly, in CPG sector companies use analytics to optimize their pricing and manage their brand and portfolio and hence improve profitability and increase their market share and containing costs.

As India rises to become a major hub for analytic services, MNC’s such as HSBC and American Express have already set up their captive centers here. Few global analytic firms such as Fair Isaac have started their Indian operations to take advantage of raising trend of analytics outsourcing. There are few niche analytics providers such as Fractal Analytics who have established a benchmark by providing analytic solutions to various sectors ranging from financial services, retail to telecom and Insurance. Solutions like customer acquisition, marketing mix modeling, consumer insights and risk analytics have proven to be very beneficial for these sectors to enhance their sales and overall business performance.

To sum it up, analytics market has grown up in a very significant manner and soon India is going to become a primary hub for the analytic services. Estimates suggest that India accounts for one third of the total $17 billion global market. Analysts believe that the true potential of analytics hasn’t been realized yet and this is just the beginning.

For latest information on analytics, please refer to following links:

Analytics Outsourcing - Why Fractal?
Data Analytics: A Huge Opportunity
The Rise of Analytic Service Providers
Interview With Srikanth Velamakanni: CEO Fractal Analytics
Business Analytics in India
Leveraging analytic solutions to improve insight, performance and customer experiences
Analytics outsourcing - emerging models in India
Insurers Seek Competitive Edge Through Underwriting Analytics
Financial Analytics: Delivering metrics that matter
Retail risk management software launched
What senior executives think about analytic priorities
Blog Analytics Outsourcing - the new buzzword