Big data has been growing exponentially faster than the entire software business put together. This makes the topic of big data management and analytics one of the biggest issues the technological era has faced thus far.
As Bernard Marr, a contributor for Forbes, wrote: “Big data is not a fad. We are just at the beginning of a revolution that will touch every business and every life on this planet.” But the vast majority of people are simply casting the issue aside, he continues. In actuality, big data is the big pink elephant in the room, and it’s preparing to sit its big pink rear right on top of us.
He writes that new data will be created at about 1.7 megabytes per second by the year 2020, and data will grow from 4.4 zettabytes today to about 44 zettabytes. We’re nearly only two years away from this if his information is correct.
India’s big data market poised to increase by $14 billion in eight years
Now take a look at India, which is the second largest country by population, and it’s no wonder they’re on the verge of a colossal boom – try a $2 billion to $16 billion upswing in a little under eight years.
According to industry experts, India is expected to experience an eight-fold growth in the big data analytics sector by the year 2025. This will bring enormous opportunities for those in the IT business.
There is a push to make India it amongst the top three in the world
The National Association of Software and Services Companies (NASSCOM), a non-profit organization that is a global trade body with over 2,000 members globally, is working to make India one amongst the top three markets by 2020.
Six areas of specialization in the realm of Big Data Analytics that are foreseen to drive growth in the sector are data scientists, data analysts, data architects, data integrators, solution architects and, last but not least, business analysts.
Furthermore, NASSCOM said, “With the rising requirement for niche competencies in AI (artificial intelligence) and analytics, the skill/expertise of the IT workforce will spearhead the analytical transformation on critical business processes across the industry,”
50,000 new analytics related jobs are already available
In a study by Edvancer Eduventures, an online analytics training institute, and Analytics India Magazine, the boom in the analytics sector has increased the number of analytics jobs by nearly two times in the past year alone. That equates to almost 50,000 analytics-related jobs currently available in India, says the Analytics & Data Science India Jobs Study 2017. This explosion of jobs in analytics has practically doubled since 2016, which “suggests increased momentum in hiring in analytics and data science in India”, says the study.
“Jobs in analytics & data science have grown by 100 percent over the last year adding tens of thousands of employment opportunities. However, a large portion of people in IT will need to re-skill themselves in data science to make the most of this employment boom,” says Aakash Shah, CEO, and founder of Edvancer Eduventures.
At the present time, the analytics industry employs around 90,000 people in sectors such as healthcare, telecom, and BFSI. These three sectors alone have been propelling the demand for cloud-based solutions and predictive analytics capabilities. Around 400 out of 600 companies in this space are startups, while 100 of those were started in 2015 alone. One of the big factors that influenced this situation, is a massive proliferation of programming. A number of people becoming digitally literate went hand-in-hand with the number of young people becoming interested in programming, data handling, and web development. From Android vs iOS to Flask vs Django, there is an abundance of great languages and platforms to explore and develop on.
There is a shortage of qualified data scientists in India
In addition to all this, in a report by Ronald Van Loon, big data thought leader and advisory board member at Simplilearn, he writes, “In 2017, demand for data scientists in India will grow hugely. I expect the need to greatly outweigh the supply, with one lakh jobs available globally, but only 200,000 people are equipped with the skills needed. The sexiest job in the 21st century requires a mixture of multidisciplinary abilities and suitable candidates must be prepared to learn and develop constantly.”
Furthermore, the Simplilearn’s report entitled The India Big Data Job Market Report also listed some of the top cities with the most job openings in the big data industry. Bengaluru was listed as the number one city for big data jobs, which also makes nearly 40 percent of the total big data job market in India. Other cities that were listed at the top were Chennai, Mumbai, Hyderabad, Delhi, and Pune.