How To Find Needles In Haystacks
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The document discusses data analytics and the growing analytics industry. It defines data analytics as the process of inspecting, cleaning, transforming, and analyzing raw data to extract useful information. The amount of data generated worldwide has increased dramatically in recent years. The analytics industry includes captive, pure-play, and third-party service providers. Indian companies are getting into analytics due to available talent, lower costs than Western companies, and the ability to better understand local data and make improved decisions. The document outlines challenges and examples of analytics applications in various industries.
How To Find Needles In Haystacks
- 1. How To Find Needles In Haystacks Presented by – Maruthi Nataraj K Santosh Koppada Sunil Pydipalli Debayan Datta - Analysis of an article from Business World dated 23-Jan-2013 in Data Analytics
- 2. • What is Data Analytics? • Change in Analytics Business over time • Analytics Industry • Why Indian Companies are getting into Analytics? • Examples in Analytics Industry • Challenges • Conclusion Agenda
- 3. What is Data Analytics? Inspecting /Cleaning Transforming Analysis/ Modeling Extraction Information Raw Data
- 4. Change in Analytics Business over time • Data - Volume - Variety - Velocity Until 2003 2011 2012 5 exabytes 1825 exabytes (apprx) 2700 exabytes (apprx) (48% increase over 2011) (1 exabyte = 1 trillion gigabytes) DATA GENERATED WORLDWIDE Past – Text/Numbers Current – Voice,Pictures, Videos,GPS,News.
- 5. Change in Analytics Business over time – contd. • From number crunching to key decision making. • Billion dollar market by 2020 as per NASSCOM report. • Boom similar to IT industry in the late 1990s.
- 6. Analytics Industry Three types of data analytics companies : • Captives - (such as Dell, Citibank, Hewlett-Packard) • Pure-play boutique companies - ( such as Mu Sigma, AbsolutData, LatentView, Fractal Analytics) • Third-party service providers - (such as IBM, Infosys, Accenture). • Dhiraj Rajaram- Mu Sigma – 2005 Atul Jalan-MD & CEO – Manthan Systems…….. • Rise of data millionaires in coming years.
- 7. Why Indian Companies are getting into Analytics? • High Quality Talent . • Lower cost of operations than in US. • Closer look at data generation. • Better decision making. • Mantra for Innovation, Excellence.
- 8. Examples in Analytics Industry • Applications in industries like Insurance ,Telecom etc. • US E-commerce Industry and implementation of Absolutdata’s solution. - Body Shapes • Disney UTV Digital/Targeted Advertising. - Video Games • Look beyond Resumes.
- 9. Challenges • Heterogeneous Indian market - Cross reference of data. • Demand-Supply mismatch. • Getting right talent. • How to bridge the gap requiring the combination of business skills with analytics? - Training camps. • Tough to convince people to join start-up.
- 10. Conclusion How To Find Needles In Haystacks • New lease of life to mathematicians,statisticians,economists and econometricians. • Analytics companies should acquire critical mass and scale up in the coming years.