Hyderabad, India, June 28, 2014: National Association of Software and Services Companies (NASSCOM) held the 2nd edition of the NASSCOM Big Data & Analytics Summit 2014 in Hyderabad. With the theme of “Industrialization of Analytics”, the focus of the summit was to share thought leadership on how to build analytically-mature organizations with analytics embedded at the business core & across the business value chain. The summit witnessed industry leaders share best practices on processes, tools, technology, technique and applications used in the context of analytics and also insights upon how to build India’s Analytics talent strength.
Analytics today has proven to be the crucial ingredient of success for organizations across industries. With the combination of networking, big data and advanced analytics, the industry is working on big ideas and a renewed vision to help businesses transform to being digital enterprises. It is also increasingly becoming the vital business dimension which offers customer solutions and improves operations. Interestingly, over the years a large number of start-up companies are looking at analytics to drive innovation and transform business processes and operations. To showcase some of the cutting edge work being done, the NASSCOM 10,000 Startups program also presented six promising big data startups on the sidelines of the summit which hold tremendous potential for the future.
President of NASSCOM R. Chandrashekhar said, “Big data offers a unique suite of advanced analytics and helps derive meaningful insights from customer data to increase sales, better target customers, improve reach and gain competitive advantage. The Indian market is still in early stages of adoption of analytics and there is a need to industrialize use of analytics to derive long term value. However, with surplus talent, established infrastructure, and a mature ecosystem, India is on its way to become a global hub for analytics. Going forward, industry stakeholders will need to work on a 6 point agenda which involves raising awareness, creating talent, variabilizing cost of offerings, standardizing tools and technologies, setting up cross functional analytics teams and getting C-level buy in, to drive industrialization of analytics in India. At the summit we aim to share perspective on the agenda to redefine analytics landscape of India and the importance of industrialization of analytics among enterprises in India.”
NASSCOM also launched a report in partnership with Blueocean Market Intelligence, titled “Institutionalization of Analytics in India: Big Opportunity, Big Outcome” on the sidelines of the summit. The report analyses the current scenario, trends in the India market, factors driving adoption, challenges faced by both users and suppliers. The report additionally showcases global and India examples of how firms have implemented analytics and the benefits gained. Further, it sets out a roadmap on what needs to be done by stakeholders involved, to industrialize this technology within enterprises in India.