Scope and Future of Data Analytics in India

Data Analytics

The Big Data Analytics sector as we see it today is poised for a great career scope in India in the next coming 20 years and it may witness an exponential growth in the frontier of IT industry.

In a study published by Accenture, it has been revealed that 79% of enterprise executives say that companies who don’t embrace Big Data are at major risk to lose market strength and may face extinction.

Big Data is the new oil for revenue growth today and Data Analytics is serving as the new rock-stars making the most valuable contributions in today’s entirely new ecosystems.

What is Data Analytics?

It can be defined as the process of examining large data chunks to generate intelligent conclusions about the information these data sets contain. It is the fastest developing approach to effectively organize the mountains of data, the different types of information which may include everything from user-tracking data on social networking apps and websites like Facebook, vast unstructured videos and images, geographic markets and demographics too complex for traditional data processing applications.

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From small corporate entities to big Fortune 500 companies, everyone needs data analytics to make more informed decisions and be more productive. While not every piece of big data is necessary, there is pressing need to organize the vast quantities of data, often unstructured, for the sake of delivering unbiased and accurate analysis of commonalities in the real-time. This analysis is much required to report a result or in order to search for validate patterns, test assumptions or find missing puzzles between variables. This is where Data Analyst comes into the realm.

Who is a Data Analyst?

To be precise, a data analyst is a professional with expertise in reviewing data from past events for patterns and verifying or disproving current theories or models, play a very crucial role in today’s data-driven ecosystem.

The person has the right blend of business knowledge, visualization of results, exploratory data analysis, data extraction, data wrangling and model validation. An eclectic mix of mathematicians, physicists, economists and digital analysts with a deep contextual understanding and expertise in applying advanced statistical modeling techniques and solving complex algorithms.

Data Analyst is also responsible for mining large sets of structured and unstructured data in order to break through all kinds of big data bottlenecks, which is a plentiful messy affair. This person closely examines large amounts of data, often complex and unstructured, to unleash all those hidden valid patterns, accurate correlations, unearthed information and other actionable insights with great speed and efficiency.

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That high-performance analytics, in turn, leads to smarter business decisions and bring significant cost advantages by simply giving precise answers to hard-to-solve problems.

The Scope and Future of Data Analysis

Today, the demand for data analytics is at the boom in almost every sector. Right from the travel and hospitality industry to government agencies, the healthcare organizations, retail, finance and banking sectors, everyone is relying on advanced data analytics to get timely insights to make decisions and unleash better growth opportunities available in the industry.

For example, the use of big data analysis in the banking industry helps in detecting fraudulent transactions. Data analytics help in analyzing the behavior of transactions and if a transaction that has been made violates the behavior analytics, a card is either blocked or the owner gets intimated immediately.

Companies are always on the hunt for smart and talented data analysts with key advanced expertise in Apache Hadoop and related modules (HDFS, HBase, Flume, Oozie, Hive, Pig, YARN), NoSQL and NewSQL, Apache Spark, Machine learning and data mining.

Data Analyst is expected to help companies with not only in segregation of unstructured data, but, also to improve their potential decision-making capabilities to mitigate risks by delivering micro-target insights, multivariate statistical analysis, quantitative research, and time-series analysis.

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How to Pursue a Career in Data Analysis?

There are many universities in India from where you can pursue both regular and distance learning course in big data analytics and take your first step ahead towards the bright future of data analytics. Anybody good at the essential skills like statistical techniques, quantitative capacity, business learning, logical thinking, and problem-solving abilities, can think of a career in data analysis.

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