NASSCOM’s report of the past year suggested that the Indian It and BPM industry generated a whopping USD 150 million in revenues in 2015. This is a steep rise over the decade which has seen an increment of about USD 17 billion in this industry. The exports in this sector accounts for almost 67 percent of all share trades in the total revenue and reports which clearly showcases the unprecedented growth in this part of the industry within the recent times.
As per data analysts the main element that
resides at the core of all innovations and technological advancements of the
present times is Data. Our nation is on the process of consolidating its
position as the global hub for all kinds of IT and BPM services. This digital
transformation that has engulfed the country sending out IT-ians in a wild
frenzy and topping the charts at job search sites is surrounded around the key
driving force which is Big Data. Big Data analytics and related technologies
for analysis form the harbinger for this great economic uplift of the nation
presently. And as the volume data rises and the way it is being used to gather
better actionable insights the need for real time analysis of data is also on
the rise for different organizations across a diverse range of sectors.
So, here is a blog on the trends that will
dominate businesses and IT and BPM services of the country and the world in
2016 from the perspective of Big Data analytics.
Big Data analytics will use the cloud immensely:
As per the predictions of industry insiders
given that large amounts of data are growing in demand in various sectors. The future of Big Data will be a mix of on-premise and cloud storage systems. This
mixed strategy will give organizations with scalable, robust and cost effective
models for incorporating data analysis into their systems.
Use of predictive analysis:
The process involves using big data
analytics to recognize events and patterns even before they arise. With newer
sophisticated technologies in Big Data analytics, extracting information from
unstructured data and using it to predict trends and behaviour patterns will be
the next game changer for businesses globally as well as in India.
Datafication will be driven by Big Data analytics:
The term datafication is a relatively new
one which can be explained as follows – when a business collects a large amount
of data to become data driven and stores them in a centralised system to
discover new systems, insights and opportunities then the process is called
Datafication. This will be taken to newer heights with the help of Big Data
analytics. This will further drive real insights, intelligent decision-making
and future predictions. The term Datafication can be better explained as a
process in which technologies reveal previously invisible processes that can be
tracked and optimized for better business.
IoT (Internet of Things) will add more data:
From only 5 billion devices back in 2009,
the predictions suggest that the number of devices will rise to be 25 billion
by 2020. IoT or Internet of Things is the buzzword making a splash in the
industry recently and it has slowly penetrated into sectors like BFSI,
Manufacturing, healthcare, retail, government and transportation. These are the
sectors which have seen the maximum penetration of data with the help of IoT.
As per Gartner the industry is expected to gather a total economic value of USD
1.9 trillion by 2020.
The country is currently under the phase of
getting used to big Data and Analytics technology so in a time like that it has
become essential for companies to understand the complete applications of the
same to generate results and insights that it is hunting for. So, use data to
back your business decisions to gain a competitive edge over your peers and
encourage your employees to upgrade their resumes with a Data Science trainingcourse in Kolkata.
4 Big Data Trends to Watch Out For
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Oleh
TechTree India
