Data analytics services market in India to triple by 2015
The data analytics services market in India is set to grow three times and is expected to touch $1.15 billion in 2015, an over 67 per cent increase from $375 million in 2010, according to a report on analytics outsourcing by Avendus Capital, a leading financial services firm. India alone accounted for over 70 per cent of the total global data analytics outsourcing market ($500-550 million) in 2010. Analytics outsourcing helps companies get their analytics needs met without having to take on the responsibility of another new process. And for those who don’t already know what data analytics is, it is the science of examining raw data for the purpose of drawing business-related conclusions about the information, and for modelling and predicting business outcomes. According to the report, over the last decade, India has matured as the preferred outsourcing destination for IT and ITeS services, due to a number of factors that include increase in data generation, cost savings, operation