Despite losing out a major chunk of the voice segment contracts to the Philippines, India still remains the destination of choice for analytics. The factors that have created the positive outlook for India includes a talented, qualified and experienced workforce, operational efficiency and lower running costs.
Jigsaw Academy and Analytics India magazine recently released a report about the position of analytics in India. The talent pool in India is substantially large and is valued also for proficiency in the English language and expertise in the analytics field.
The Future Of Analytics Outsourcing
The report concluded saying, “India will remain to be a preferred destination for IT and ITeS services due to the highly talented workforce, lower costs and operational efficiencies among others.”
With India losing out a chunk of contracts in the BPO arena, fears about the future of the outsourcing industry are not unfounded. The analytics arena however relies on a particular skill set and training that is not readily available in other Asian countries with the same variables as it is in India.
The skilled employees are falling short on the demand as analytics is gaining ground in India. The report believed that social media analytics and web analytics domains will face a shortage of employees who are trained. The report also said that services like consulting, model development and proprietary IP based services will be hard to fulfill by Indian analytic service providers.
The Number Crunch For Analytics Professionals
The salaries that the analytics professionals receive for their services vary with geographical location within India. The professionals receive the highest salary in Mumbai at Rs. 11.49 lakhs per annum. Professionals in Bangalore take Rs 11.34 lakhs per annum to the bank. Gurgaon doles out the lowest salaries at Rs. 10.42 lakhs per annum. On average around 60 percent of the analytics professionals receive more than Rs 6 lakh per annum and close to 20 percent receive more than Rs 20 lakhs per annum.
If these numbers are anything to go by then the analytics professionals earn well-deserved remuneration in India. If the trend continues with the pace it is at, numerous more trained professionals will soon fill the gaps in employee numbers at the service providers.