Jayant was invited by NASSCOM to speak on ‘India: opportunity in analytics’ at a round table session of Big Data & Analytics summit organized by NASSCOM. The panel had C-level executives representing analytic solution providers (supply side) and representatives from leading telecom service providers (demand side).
The session recorded maximum attendance and discussions were centered on several key areas in analytics like what are the challenges industry faces while adopting analytics projects, how analytics market can be accelerated in India,etc.
Jayant, an entrepreneur with experience of over 20 years in software products domain was asked to give his insights on two very critical aspects of analytics.
Q: Is there an opportunity for IT Products Company to create a next generation product in analytics domain?
Jayant was optimistic about this and said that analytics domain offers various areas that young/small companies can choose to play and establish themselves globally. He went on to elaborate that data, tools and people can be three major opportunities for product companies to specialize.
In today’s digital age every enterprise (big or small) has data that needs to be aggregated, integrated and cleansed for further processing. Irrespective of the size of the data every company needs to undergo this critical step before running analytics.
In today’s competitive market, every company needs quicker insights of their customers to stay ahead in the race. Jayant sees an opportunity for an IT products company to come up with tools that generate quicker insights without having a huge project phase.
Lastly companies should hire experienced people who have niche skills to develop customized analytics platforms for specific needs of various verticals like telecom, insurance, etc.
Q: Is the buzz around big data helping the Analytics industry or creating more doubts and skepticism?
Jayant was of the view that industrializing analytics would require analytics to be moved away from data. Data and analytics are two different entities and should be talked off differently.
Presently the biggest problem that scares business decision makers is the term “Big Data”. For large enterprises the data is huge and the term “Big Data” can be used but for smaller companies data is small and using the term “Big” would only put additional emotional stress while taking a business decision.
Jayant was appreciated for his valuable insights. The audience who were a mix of aspirational entrepreneurs, industry representatives from telecom, insurance and other verticals and analysts had gained immensely.0