With a view to making India one of the top-3 global destinations for big data and analytics in the next three years, Nasscom has launched an online community to pep up the analytics industry in the country as part of its Mission ‘Three-by-Three’.

The National Association for Software and Services Companies (Nasscom) aims to take the industry revenue to $4 billion from the present base of $2 billion over the three-year period.

Terming it a ‘Three-by-Three’ campaign, KS Viswanathan, Vice-President (Industry Initiatives) of Nasscom, has said that the industry is growing at a CAGR (Compound Annual Growth Rate) of 26 per cent. “We expect that the growth rate will continue in the next nine years to cross the $16-billion mark by 2025, giving us a market share of 32 per cent in this space,” he told reporters on the sidelines of the fourth edition of the ‘Big Data and Analytics Summit’ here on June 23.

India has about 600 firms operating in this space. “The demand for analytics is growing significantly as more and more devices are connected and Artificial Intelligence is transforming the technology space. That about 100 new start-ups have come up in 2015 alone shows the potential,” he said.

In order to build a supported ecosystem, the association has launched an online community for all the stakeholders in the analytics space. The online community will help stakeholders discuss the issues, challenges and opportunities to grow the industry.

About 20 analytics firms are going to meet under the aegis of Nasscom and discuss the professional proficiencies that they require. They are to come out with a set of recommendations on the kind of skill sets they will require.

“We have identified seven job skills in the big data and analytics space. We are in the process of talking to engineering colleges to upgrade the curriculum in order to equip students with big data and analytics skills,” said former Nasscom Chairman BVR Mohan Reddy. He, however, noted that the industry needed to build resources internally for the moment, from its existing staff base.

Hyderabad has emerged as a strong contender for the establishment of a Centre of Excellence for Big Data and Analytics.

Nasscom hopes that an announcement will soon be made on the Centre of Excellence. The centre’s mandate will be to drive research in the analytics space and strengthen the ecosystem.

Source: Business Line