Digital business dynamics are changing the entire field of data and analytics. Gartner is telling India’s data and analytics leaders to evolve traditional approaches, and focus on business outcomes, market trends, algorithmic business, new technologies and most importantly, on building trust.
This year’s theme at the Gartner Data and Analytics Summit in Mumbai shifted from business intelligence and analytics to incorporate the key elements of data management, focusing on how organizations can leverage data as an asset. At the summit, Ehtisham Zaidi, Principal Research Analyst, Gartner, outlined some of the “significant change” the data and analytics market is undergoing:
- adoption of machine-learning techniques for data management and analytics;
- the settling of hype around big data through more mature data storage;
- processing and analysis solutions;
- the rapid shift to the cloud;
- hybrid data management through focused offerings;
- the emergence of modern BI platforms;
- smart data discovery; and
- self-service data preparation solutions.
“We are also seeing a huge focus on internet of things data integration, data management and analytics by Indian companies, particularly in the consumer packaged goods and manufacturing sector, who are determined the lead the market through competitive differentiation in these key areas,” Zaidi added.
The company states that BI platforms continue to lead the BI software market in India, with software revenue at a 24.4 percent increase over $206 million revenue last year. It added that the BI software market (other than the traditional type) is expected to reach $245 million in 2017, and see double-digit growth in the next two years. Mary Meeker singled out India as one of the “most fascinating markets for the internet on the planet,” in her annual state of the Internet Trends presentation.