The first thought that comes to the mind when we consider the global job market, is disruption through the advent of AI. Yes, a large chunk of jobs, mainly ones which are repetitive in nature, are being assigned to artificial intelligence. This is a concern that cannot and should not be ignored. Does this mean that the job market is going to dry up rendering thousands jobless? Quite on the contrary there is an alarming shortage of skilled personnel around the world. This is because of the steady growth of the big data analytics industry.
India has constantly been supplying a large number of technical professionals to the whole world. A study by Analytics India Magazine and Analytixlabs estimates that the current annual revenue generated by the Indian analytics industry is $2.03 billion and it is growing at a CAGR of 23%. Keeping in mind the prediction that the industry in India is going to double by 2020 the CEO and founder of AnalytixLabs, Sumeet Bansal says, “…it is set to bring equal opportunities for all – starting from fresher to experienced professionals in the space.” This is exactly the point of interest. Nearly 10,000 analytics jobs are being created in India on a yearly basis. These jobs are crucial to strike balance in the market jarred by the disruptions created by automation.
The key sectors in which data analytics is generating maximum revenue are Finance and Banking, Marketing and E-Commerce. Apart from these a considerable number of industrial sectors are using big data analytics. However, almost 60% of the revenue is generated through the services extended to the USA. A lot of service based Tech firms are opening analytics services wings. The point is new job opportunities are opening up for skilled analytics professionals. The fresh candidates are usually offered a handsome salary of INR 3.5-4 LPA while experience of 4-5 years can earn you up to INR 15 LPA depending upon skills.
The revenue collected in Delhi and NCR is the highest in the country followed closely by Bangalore. The trend shows that Bangalore is coming up fast as the hub of Indian analytics. 12,000 fresh candidates were added this year to the analytics workforce. The large, mid-sized and small companies are all employing a considerable number of personnel. Analytics training in India is primarily centred on two or three major Indian cities. Delhi and Bangalore have the best training facilities. A lot of fresh students as well as a considerable number of working professionals are availing analytics training in Bangalore. Training in various streams of data science and data analytics is helping the enthusiasts become a part of the growing workforce of Indian analytics industry. These skills are creating an empowered youth which is able to hone their chance of finding suitable employment and a glittering career in data analytics.