Data analytics ├óÔé¼ÔÇ£Next big thing in IT world

Data analytics ├óÔé¼ÔÇ£Next big thing in IT world

Bigdata is the next big opportunity which is increasingly occupying great place in present market with its boom. At present IT industry in need of professionals and witnessing shortage of professionals with skilled talent. Analytics is the next big opportunity across the global and India also. Analytics industry is facing challenges in dealing with the talented workforce. Global companies are looking for candidates with the skills of business management and analytical skills which offer a candidate for managerial and leadership roles in analytical industry.

Indian analytical industry is projected to grow from 200 million USD to 1.2 billion USD by 2020 with the compound interest rate of 25%. Analytical industry is expected to grow and there is no doubt that India will be forefront of this revolution. A recent study by recruiting firms reveal that at present India has only 50000 analytical data engineers and there is a need of 5 times more of engineers to that number. Gartner report states that Bigdata will reach 4.4 million jobs by 2015 and it is also known fact that one third of jobs were vacant due to shortage of skilled manpower. And a recruiting firm head says that Today, skilled analytics professionals are sought after as most companies rely on data insights for decision making. With firms deploying big data analytics to create a competitive edge and explore new avenues, we see a huge demand for Data Scientists across India.

Data analytics has been used by many sectors like Finance, Retail, Pharma and Healthcare. Recent reports says that data analytics is growing around 35 percent annually in different sectors like travel, Auction, Fashion, Lifestyle and Home needs. Analytics professionals receive the salary of 11.1 lakhs on average per annum. The minimum education background for these professionals is a degree in science, statistics and mathematics with basic knowledge on SAS, R and Hadoop.

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