Marketing analytics wave is on roll in India
NASSCOM, in association with AbsolutData Research and Analytics, on Tuesday released a report titled, ‘Marketing Analytics – An opportunity for India to Lead’. According the report the Indian marketing analytics industry is expected to grow from its present value of $200 million to $1.2 billion in 2020 at a compounded annual growth rate of 25 per cent. The NASSCOM president said, “Over the past few decades, the evolution in traditional media and the emergence of digital media has revolutionized the way products are sold to the customers. Marketing analytics play a pivotal role in helping marketers take informed data-driven decisions and effectively reach out to the audience. The marketing analytics industry is poised for exponential growth and India will be one of the foremost forces leading this revolution. This report is an effort to showcase potential of analytics to organizations, analytics players and prospective employees and will help pave the way for concerted effort to increase the usage.”
At present most of today’s top analytics software and services are offered by foreign companies. However, Indian IT companies also have modest analytics offerings, with some even specializing in business analytics. Due to their relatively strong presence in the business process outsourcing (BPO) and IT fields, Indian companies have a natural advantage in pushing their own analytics offerings. India has a distinct advantage in delivering analytics with an abundant supply of “trainable”, cost effective analytics talent and players with extensive analytics delivery experience. ”As we spoke with clients and thought leaders in the US and Europe, it became apparent that India has a leadership position and is well ahead of the curve in marketing analytics,” said Anil Kaul, CEO, AbsolutData.