More Indian Enterprises Cozying Up To Analytics: Study
Companies across various domains in India have extensively adopted analytics since the last year and the trend is here to stay, according to a new study. The study conducted by Analytics India Magazine and Cartesian Consulting, titled: ‘State of analytics in domestic firms in India 2017′ suggests that the analytics scenario is constantly changing and has managed to penetrate the domestic market even though it may take a while for analytics to reach the maturity level. [Read the full report here]
The study highlighted 20 large Indian firms across industries such as banking, conglomerates, e-commerce and telecom and showed that private banks such as Kotak Mahindra Bank, Axis Bank, ICICI, HDFC, YES BANK are deploying analytics extensively, while amongst the public banks, SBI is the most analytics-savvy, suggested the study. It also highlighted Max Life Insurance to be leading in terms of analytics adoption in insurance.
It also brings out the fact that among e-commerce players, Flipkart and Ola are the frontrunners; in telecom Idea Cellular has embraced analytics faster than big players like Bharti Airtel, whereas in the automobile sector, Mahindra Group and TATA Motors are upping the game.
In terms of cities, 44% of all analytic functions for Indian firms are based out of Mumbai, while 85% of analytics functions are based out of just three cities - Mumbai, Bangalore and Delhi-NCR.
The study suggested University of Mumbai, Delhi University, NMIMS, IIM Calcutta, The Institute of Chartered Accountants of India, IIM Lucknow, IIM Bangalore, IIM Ahmedabad and ISB Hyderabad to be some of the leading universities from which Indian firms recruit their analytics teams.
It also brings out an interesting fact that on an average, Indian firms have an analytics penetration of 1.7%, implying that for every 59 employees in the organization, one employee is associated with data and analytics.
Coming to the tenure, it suggests that the average tenure of analytics professionals in Indian firms is 3.4 years, with TATA Motors boasting the highest tenure among Indian firms. Also, on an average, analytics professionals in Indian firms have 8 years of work experience. According to the study, TATA Communications has the highest seniority.
Key findings that the study suggests are that there is a slight negative correlation between maturity and penetration. Flipkart is the only company which is both high on penetration and maturity. Companies like Ola, Paytm and Zomato took a very aggressive stance on their analytics function.
It states that while e-commerce firms have the highest analytics penetration of all sectors, they have the lowest maturity. Also, automobile firms have the highest maturity and banking firms the lowest.
Bhasker Gupta, Founder and CEO, Analytics India Magazine said, ”Analytics industry is gaining importance in India and is being deployed across industries, including banking, finance, e-commerce, retail, and telecom. This study gives us a quick insight into how the analytics scenario is constantly changing and the rapid evolution that all the major segments of the Indian analytics market is witnessing– namely service providers, captive centres and the domestic market.”
Sandeep Mittal, Managing Director at Cartesian Consulting said, ”We’re delighted to assist AIM with this study that’s always a much anticipated one in the market. It’s never an easy one to pull off but now that AIM has done it three years running, there’s a track which becomes a more useful reference over time. Reports of this nature don’t just inform - they lead to self-awareness and an accelerated pace of change, something we all look forward to.”
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