As India recovers from the deadly second wave of the COVID-19 pandemic, the country is witnessing a first-hand revolution in demand for data analytics as a solution and its various use cases. An industry that has come to fruition over the last 7 years has steadily been gaining the attention of the masses; however, after the pandemic, experts are taking note that the importance and popularity of data analytics as a career choice will increase exponentially.
A recent report published by Analytics India Magazine shared that the Data Analytics Industry earned a total revenue of 35.9 bn USD as of March 2020, signifying a sharp increase of 19.5% over and above the past year. The report went on to highlight the fact that Data Analytics as a solution will encompass 35% of all IT solutions in India by the end of 2025. This and data from several other peer-reviewed sources point at the steady growth this industry is witnessing in India, making it an ideal choice for those who are looking to foster a career in data analytics both as a novel approach or as career advancement and transition.
But what changed in the industry, and why are experts predicting an increased demand in this domain?
To put it simply, over the past couple of years, companies across all industries have slowly made the transition from guesswork to predictive analytics, which empowers them to foster key decisions by analysing past market trends. Although this industry was witnessing steady growth over the past few years, the onset of the pandemic put it into perspective for many, how important it is to expertly analyse the data we collect and take note of key dynamics and trends which will influence consumer behaviour for days to come.
For instance, before the pandemic, data harvesters rarely focused on the movement data they collected from consumers, as use cases of these are yet to be pinpointed; however, as the nationwide lockdown started, it became abundantly clear to key stakeholders that expertly analysing movement data can not only help them track the spread of the pandemic, but also equip them with key insights in terms of precautionary measures to be taken. However, this use case would not have been possible without the intervention of advanced data analytics engineers from the best firms in India, thus contributing to the rising demand of talented professionals in this field.
The Way Ahead
After the US, India is set to be the next battleground for developing a state of art data analytics hub, and several key observers of the industry have taken note of this fact. With the rising demand of data analytics as a solution among both public and private entities, there has never been a better time than this to foster a career in data analytics.
Coupled with the rising demand, there are now more resources available for those willing to learn data analytics and foster a future career which is immensely rewarding across multiple verticals.