India is one of the leading markets for analytics and data science services, and various data science vendors have seen significant growth over the last few years, as organisations across verticals are investing billions of dollars in data science and analytics to optimise their processes. In fact, despite the pandemic and the resulting quarter-long slowdown, the data science functions across organisations have not been significantly impacted, suggesting that data science and analytics are a mainstay of business processes and value generation. The pre-COVID numbers suggest that as of March 2020, the analytics function in India earned consolidated revenues of $35.9 Bn, a 19.5% growth in revenue over last year. In the post-COVID world, companies are veering towards digital transformation to ensure business continuity – and the analytics and data science functions are playing a crucial role in this journey. As companies are looking to establish AI and Data Science capabilities, the market is further maturing, driving the need for data science vendors/service providers to facilitate the booming market. Over the last few years, multiple vendors with unique capabilities in data science, have not just grown from small operations but also matured in terms of capabilities.
As a result, all major cloud providers are either offering or promising to offer Kubernetes options that run on-premises and in multiple clouds. While Kubernetes is making the cloud more open, cloud providers are trying to become "stickier" with more vertical integration. From database-as-a-service (DBaaS) to AI/ML services, the cloud providers are offering options that make it easier and faster to code. Organizations should not take a "one size fits all" approach to the cloud. For applications and environments that can scale quickly, Kubernetes may be the right option. For stable applications, leveraging DBaaS and built-in AI/ML could be the perfect solution. For infrastructure services, SaaS offerings may be the optimal approach. The number of options will increase, so create basic business guidelines for your teams.
Analytics India Magazine (AIM) along with Jigsaw Academy, has developed this study to focus on the impact on jobs across certain emerging technologies. Jigsaw Academy, with over 400 years of combined teaching experience, including online and remote learning delivery, is adept at training and upskilling professionals and freshers in key capabilities in emerging technologies like business analytics, data science, artificial intelligence, deep learning, cybersecurity, full stack development, and cloud computing, to name but a few. The broad Information Technology domain experienced significant growth and consolidation in 2019-2020. At the beginning of this year, various studies conducted by Analytics India Magazine indicated that the IT domain in general, and the specific domains of Artificial Intelligence, Deep Learning, Data Analytics, Machine Learning, and Cyber Security domains, to name a few, were experiencing significant growth in terms of revenues, investments, and salaries. Despite the lockdown and recessionary trends, specific domains and technologies across the IT space continue to develop at a steady space. The Covid pandemic has unfortunately affected the broader global and Indian economies – economic activity across the globe has slowed down after a strict lockdown in activity across all major economies. One of the other impacts of the disruption, due to the unfortunate recession and pandemic, is that there has been a shift of jobs and roles to Tier 2 and Tier 3 cities. Before the lockdown, a small percentage of job roles ( 3-4%) were advertised for the Tier 2 and Tier 3 cities – locations outside the IT, Technology, and BPO hubs. There has now been a significant shift to an average of about 8% of the jobs advertised in tier 2 and Tier 3 cities. This highlights that jobs are now increasingly becoming location independent and now advertised across several locations, including small cities and large towns.
But the big data industry has significant inertia moving into 2021. In order to give our valued readers a pulse on important new trends leading into next year, we here at insideBIGDATA heard from all our friends across the vendor ecosystem to get their insights, reflections and predictions for what may be coming. We were very encouraged to hear such exciting perspectives. Even if only half actually come true, Big Data in the next year is destined to be quite an exciting ride. The "analytic divide" is going to get worse. Like the much-publicized "digital divide" we're also seeing the emergence of an "analytic divide." Many companies were driven to invest in analytics due to the pandemic, while others have been forced to cut anything they didn't view as critical to keep the lights on – and a proper investment in analytics was, for these organizations, analytics was on the chopping block. This means that the analytic divide will further widen in 2021, and this trend will continue for ...
While COVID-19 pandemic has had a huge impact on people, function and process in innumerable ways, it has brought about an acceleration in the adoption of digital transformation across business and social sectors. The industry needs to rapidly ramp up on skills required to manage this rapid digitalisation. One of these critical skills is Data Engineering – in fact the DICE report of 2020 has labelled Data Engineering (DE) as the fastest-growing tech job with a 45% year-on-year growth. The pioneers of formal Business Analytics/ Data Science education in India, Praxis Business School, are launching a 9-month full-time post-graduate program in Data Engineering to address the business need for people with these skills. This course by Praxis is supported by industry giants Genpact and LatentView, who are providing industry inputs and know-how to strengthen the program.