The global pool of advanced analytics talent is anticipated to achieve 1 million individuals in 2020, double 2018 levels, and much of that development comes from India, according to a study from the global consultancy company Bain & Company.
India’s advanced analytics pool is anticipated to expand by next year, from 65,000 in 2018, threefold to 2.1 lakh individuals. This is an increase of 223 percent compared to China’s development of 160 percent, and the development of 72 percent that the US is estimated to see.
As per the report: India’s rapidly expanding pool of advanced analytics talent puts it in a position to become a global leader in the field. With the right focus on talent development, government support and regulation, India could become more than a source of quantities of talent. It could be the trusted provider of sophisticated analytical services to its own companies and the world’s.
Bain said the talent pool in India is being amplified by two trends. “First, STEM (Science, Technology, Engineering, Math) undergraduate and graduate degree holders whose study programs emphasize information and analytical abilities continue to enter the workforce increasingly. Increasing it is the profound current ecosystem of India in information technology, particularly in programming and integration of systems. Outsourcing companies and worldwide corporate IT centers in India house many perfect candidates to learn fresh sophisticated analytics abilities,”tell the writers of the report, Chris Brahm, Arpan Sheth, Velu Sinha, and Jessica Dai.
A major impetus, they say, was the government’s push for Digital India and PEs buying into India’s analytics growth story early on. General Atlantic PE player purchased 20 percent interest in MuSigma based in Bengaluru. Other Indian analytics companies, Fractal Analytics, Crayon Data, Latent View and AbsolutData, have produced a significant market presence.
The US has been the leading source of advanced analytics-trained talent so far, but much of the growth will take place outside of the US in the future, the report says.