To showcase how organisations are creating value by leveraging analytics across industries, The National Association of Software and Services Companies (NASSCOM) and Hansa Cequity announced the release of a report on “Application, Innovation and Maturity of Indian Analytics”. The report was released as part of the Big Data & Analytics Summit organised by NASSCOM at Hyderabad.
Organisations, including global in-house centres, analytics providers, and Indian buyer enterprises across different industry sectors participated and showcased the innovation and business impact created by them by leveraging Indian analytical capabilities. The submissions were received in application areas of Customer Experience & Lifecycle Management, Revenue Maximisation, Operational Efficiency, and Compliance & Risk Management.
Key findings of the study:
· Organisations are increasingly ‘competing on analytics’ based on Insights from integrating institutional data, social media data, and machine data.
· Analytics solutions have matured from business intelligence and reporting into the realm of predictive and prescriptive analytics such as forecasting, scenario planning, simulation, optimisation, complex risk modelling, NLP etc.
· The industry is enhancing capabilities and moving towards productized analytics solutions by embedding domain expertise, understanding of customer business and deploying deep analytics expertise.
· Many local government agencies, on a very positive note, have been early adopters of analytical solutions to provide better citizen centric services.
As part of the study, 12 pioneering examples were selected for special recognition and the companies that executed those projects were honored at the NASSCOM Big Data & Analytics Summit.
The ‘Top 50’ case submissions are featured in the ‘Application, Innovation & Maturity of Indian Analytics’ Report.
MohanaKrishnan, Director, NASSCOM, said “Disruptive technologies, informed customers, rapidly changing business models are presenting challenges as well as opportunities for enterprises to explore innovative solutions available in the ecosystem. The need for drawing better insights from huge volumes of data has fueled the need for innovative analytic solutions.
The depth, breadth, innovation and maturity of analytics solutions from India is not only fascinating and has led industries such as banking, retail, mining, aviation, agriculture, government, transportation, hospitality, and energy and utilities to quickly adopt and bring enhanced competitive advantage.”
S. Swaminathan, Co-founder and CEO, Hansa Cequity commented that, “At Hansa Cequity, we believe that Data is the new fuel and competitive advantage for the enterprise and Data-driven marketing will become the new normal in companies. The study proves that India is now ready to make the big difference in the way global companies make decisions.”
While sharing his views on the initiative, Ajay Kelkar, Co-founder and COO, Hansa Cequity, said “Data scientists were ranked by HBR as the sexiest job of the 21st century. Cequity assessed the work done by participating Data science teams along with NASSCOM and used their Smart Analytics Impact™ framework to assess the more innovative case studies. This Research demonstrated that a vibrant ecosystem for analytics has developed in India”
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