Why Analytics

WHY ANALYTICS?

Its common knowledge that Analytics/Data Mining/Data Science is among the most sought after skills today. There is a huge demand for Analytics Professionals/Data Scientists globally in almost every possible sector-Financial Services, Retail, FMCG/CPG, Telecom, Technology, Supply Chain, Social Sciences, spatial sciences, bioinformatics, health care and so on such that, even to confirm the presence of the God Particle ( HIGGS BOSON ) recently, a lot of experiments were conducted  for validation by a large number of independent teams across the globe, and the results of those experiments were analyzed using multivariate techniques. 

View the video to know more on the role of big data analytics in the discovery of GOD PARTICLE

CERN Finding – HIGGS BOSON-A Trimuph of Big DATA

According to a statement made by IBM’s Chief Executive->”The current boom in Analytics Industry will be atleast 10 times greater than the boom of IT Industry in the 90s”. Google’s Chief Economist Hal Varian says on Statistics and Data: “I keep saying the sexy job in the next ten years will be statisticians. People think I’m joking, but who would’ve guessed that computer engineers would’ve been the sexy job of the 1990s?” Varian then goes on to say:
“The ability to take data – to be able to understand it, to process it, to extract value from it, to visualize it, to communicate it’s going to be a hugely important skill in the next decades, not only at the professional level but even at the educational level for elementary school kids, for high school kids, for college kids. Because now we really do have essentially free and ubiquitous data. So the complimentary scarce factor is the ability to understand that data and extract value from it.”

Just as IT is a horizontal support function today in every Industry vertical, similarly Analytics is becoming a support function in each and every Industry Vertical, be it Financial Services, Pharma, Automotive, Retail, Supply Chain or any other.

The world today is witnessing a big data explosion, data which is astronomical in size and calls for sophisticated systems,  algorithms, and skilled data miners so that meaningful insights can be drawn. But do we have the skilled manpower in adequate number to meet that demand? I am skeptical. I am not answering “WHY ANALYTICS” to make a Sales Pitch, am just stating a fact-that there is an ever increasing demand for Analytics Professionals today,and we do not have adequate number of Training/Educational Programs globally (although the number is slowly increasing) and we are here to address that need gap.

The below video gives you a teaser on the power of analytics and how it can transform businesses.