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As big data analytics has announced its arrival as a promising IT industry vertical in the country, the Nasscom is in the process of evolving qualification parameters, setting up a Centre of Excellence (CoE) to create quality workforce.
Currently employing 50,000 people in various data analytics roles, the big data analytics segment would require three lakh skilled professionals by 2020. The size of analytics segment is pegged at $1.5 billion with a projected CAGR (compounded annual growth rate) of 20 per cent in the next five years. About 370 start-ups working on various niche analytics solutions.
Big data hubUnlike the traditional IT industry, big data analytics draw people from unconventional academic disciplines such as economics, mathematics, basic sciences and statistics. “We are trying to make India the big data analytics hub of the world. We are in the process of formalising qualification packs for data scientists and other roles. We expect the industry and colleges to follow these standards to create qualified workforce,” KS Viswanathan, who is driving issues related to big data analytics at Nasscom, has said.
He was here with the inaugural of the third edition of the two-day Big Data and Analytics Summit 2015 – Data Driven disruption – The next frontier.
Talking to reporters on the sidelines of the event, he said the association was working with the Union Government to set up a Centre of Excellence that would work as a catalyst to develop the segment.
“The centre is being developed on the public-private partnership model. We expect it to be functional from this financial year,” he said.
The big data analytics segment now has about 35 marketing analytics firms, 30 firms doing enterprise business intelligence and 15 companies providing comprehensive analytics solutions.
In association with Hansa Cequity, Nasscom has prepared a compendium of 250 case studies on various analytics projects rolled out by Indian firms.
No change in IT jobsThe Nasscom expects no significant increase in the number of jobs expected to be created by the IT –BPO industry in the country this year. “It is going to be in the same region of 2.30 lakh jobs the industry created last year.
“It is largely due to automation and increased efficiencies,” Nasscom Chairman BVR Mohan Reddy has said.
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