Missing out on biz opportunities for lack of analytics?

BANGALORE, INDIA: BI is a major disruptive trend which is changing the parameters of how business decisions are taken and well all for the right reasons. Gartner's recent report states that by 2020, 25 billion devices will be connected which will give businesses a plethora of data to drive business opportunities.

With 33,000 customers globally, Qlik empowers companies to make the right decisions with insights and visual analytics. Less Bonney, COO, Qlik, says that in India, BI has good prospects to grow and has a couple of advantages over other countries. "One the country has a highly educated workforce and their literacy tends to be higher on an average so they can understand the data better and particularly the younger generation are coming into the world and they are more demanding from a point of view that need access to data which is helping to draw the trend."

"We find the emerging markets can jump into new technologies and easier from a technology point of view. The challenges are sometimes more on the people's side than the technology side. The modern management needs to empower their organizations and empower the modernity from point of view of their technology and empower their point of view from their decision making, its sometimes very hierarchical."

"Organizations need to become more flatter and agile so they do better collaborations and change structures. Data itself will drive new business opportunities and new data products might take over."

According to him, the hurdle is attitudinal and needs to be understood from where the business can be generated. If businesses do not prioritize, they may lose the value of their business impact. Accuracy of data and ensuring it as a priority so as to get the right analytics will be the right step to take.

David Telford, senior director, sector group lead manufacturing and service industries, said, "Over the past four years, I have witnessed many changes. First it was traditional BI vs data discovery then visualization forayed which changed the parameters again. We try to focus on our platforms and different organizations' priorities are different which needs to be taken care. We want to have a platform approach and what your data requirement is all about."

He adds, "In the next few years we want to remain focused on platform approach and get better and efficient and keep growing in these areas, particularly in predictive analytics."

Highlighting that the last two years has been witnessing much more growth than the previous years, both the experts are opinionated that India is an emerging market and it is also related to the emergence of India as being a major player internationally, industrially and politically.

With big names such as Samsung, Maruti, Qlik impressively now is also working with e-commerce giants, Flipkart, Snapdeal, MakeMyTrip, Housing.com.

"The technology is simple to use and small companies can do it. We always tend to fall in the trap of big names but overall its more of small companies who are optimally using this technology to win customers. They are more adventurous and do not have the IT complexities and are ready to experiment. Its equalizing the disadvantages small companies have to larger ones and is bridging the gap," said the experts.