Data Science Leaders Outlook In India 2019, now in its fifth edition by Analytics India Magazine and Simplilearn measures the analytics leaders' sentiment around the maturity level of Data Science in organisations, investment in analytics tools, talent and the companies' focus on decision-making business outcomes.
The report takes stock of the analytics landscape in India and how enterprises have moved up the analytics maturity index. The disruptions that came in waves have now clearly matured and business leaders today are making big bets on emerging technologies such as AI and machine learning.
The report captures the C-level strategy and investment outlook and how business leaders are using data and analytics to redefine the future value chains related to products, business models and the current market. The changing dynamics have also brought into question the need for talent, that will be the key to rapid innovation. As business leaders explore new capabilities, they require expertise to scale digital efforts and require industry-ready talent that can drive greater value for enterprises.
Here are the key highlights from the study:
• Analytics leaders demonstrated a strong positive outlook towards the industry. Net Sentiment Score among analytics leaders in India is at a five-year high of 85% • Analytics leaders emphasise that the demand for analytics in their organisation is expected to increase over the next 12 months • As per the report, 87% of decision-makers plan to increase their analytics workforce over the next 12 months
Key areas explored are 1. The maturity level of Data Science in organisations 2. Investment in Data Science over the next five years 3. Challenges that persist in DataScience adoption 4. Talent acquisition strategies key to success
"Enterprises have realized the vast opportunities Data Science offers and are ramping up their capabilities to gain actionable insights from data. But while companies are accelerating the adoption of data engineering, data science and analytics, what's also required is the skilled talent to handle data-intensive roles. The need of the hour is the accessibility to industry-relevant training resources to help professionals from diverse backgrounds to gain relevant data-centric skills," said Krishna Kumar, Founder & CEO, Simplilearn.
"With analytics capabilities maturing, we are seeing organisations move into a strong product mindset. Data is coupled with products and services and this data-product mindset is allowing organisations to scale and enjoy a competitive advantage. On the talent front, investments in training and skilling will help the workforce to be prepared for the changing roles," said Bhasker Gupta, Founder & CEO, Analytics India Magazine.