Importance of Big data in India’s digital economy

Recently it was reported that 627 million Indians are currently using the Internet. The number is expected to increase even further owing to the rapid internet growth in the rural areas. As more and more Indians use the internet, the economy gradually shifts towards the digital space and potential markets start to develop on the e-commerce sector. In fact, the E-commerce sector of India is the fastest growing in the world with almost 51% annual growth rate and set to touch 120 billion USD by 2020. With a millions of internet users and a multibillion dollar digital industry, total amount of data created in India will exceed 2.3 million petabytes soon and this is where big data comes into play.

Understanding big data and what it offers.

Companies today need innovative and creative ideas to sustain in the midst of tough competition. Moreover, as digital industries throughout the world take shape; technological solutions are more than required. Big Data analytics is one such solution which can not only provide an edge over competitors but also save precious time and money. Traditional BI tools have lost relevance and more and more business leaders are employing big data analytics to get precise information in a shorter period of time. For example, Coca- Cola has adopted big data to maintain stocks in real time. Popular movie streaming sites like Netflix has been using BDA to improve their recommendation system and Google uses BDA to advertise in a more effective manner. The list is never ending and the potential is huge for big data.

How big data is being already utilized in India?

Flipkart, a key player in the ecommerce industry of India has utilized big data in a perfect manner. With more than 100 million app downloads and 200 million daily page views, Flipkart ingests more than 10 terabytes of data every day.  This data is analyzed using advanced big data analytics and important insights are gained from it. The company has over sixty machine learning models which deliver insights over 6K real time terminals which in turn help the business leader to make smarter decisions. Big data analysts can tactfully read the footprints left by users and use it accordingly to offer a better user experience and which is how flipkart retain customers.

Employment opportunities in India with Big Data-

More companies are following flipkart’s example and adopting big data analytics to increase business performances in India’s growing digital economy. Big data has also found application in a variegated field in India- Political campaign, healthcare, security and banking. The government is also encouraging the entire country to adopt big data analytics with many programs and boosters. In Indian cities like Bangalore and Pune where the IT industry stands strong professionals with a Big data training in Bangalore or Pune are bound to gain. Moreover, there is also a lack of skilled professionals in India and with a Big data training in Bangalore or Hyderabad one easily take the opportunity to land on big jobs.

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