Indian organizations adopting augmented analytics tools
To boost the data preparation and data cleansing, Indian organizations are going to utilize augmented analytics tools, as per Gartner. This would lead to a change in the market value of analytics and business analytics in India in 2018. Gartner, the leading advisory and research firm, forecasts that the total revenue of analytics and business forecasts market will reach to USD 304 million in 2018, an 18.1 percent increase year over year. At the Gartner’s annual Gartner Data and Analytics Summit, analysts probed the important issues face by the data and analytics market. “Indian organization is shifting from traditional, tactical and tool-centric data and analytics projects to strategic, modern and architecture-centric data and analytics,” said by Ethisham Zaidi, the principal research analyst at Gartner. “The ‘Fast followers’ are even looking to make heavy investments in advanced analytics solutions driven by artificial intelligence and machine learning, to reduce the time to market and accuracy of analytics offerings,” he added.
“We are witnessing a rapid shift to the cloud and hybrid data management through focused data management offerings, including integration platform as a service (iPaaS) tools for cloud integration and data preparation tools for self-service integration,” Mr. Zaidi said at the conference. The CIOs, Chief Data Officers (CDOs), and data and analytics leaders need to focus on business outputs, explore algorithmic business and build trust with the business partners. In particular, they need to start experimenting and adopting smart data discovery, augmented analytics and data virtualization to stay ahead in the curve, as suggested by Mr. Zaidi.
There is a huge demand for integrating and managing the unstructured data in the Indian organizations. Few organizations have already started experimenting with data science on real-time streaming data. Due to which the data management software market revenue in India is increased to USD 950 million in 2018, a 13.2 percent increase year over year.