In IT Next asked a few IT industry experts and professionals how they think the seemingly hot arena of analytics will shape up in the next couple of years. Here are some considered opinions:
Rajesh Ranjan, Program Director, MindTree Ltd:
Smartphones and tablets are fuelling the demand for analytics. The rise in cloud based services is making analytics available for SMB. The earlier concept of Business Intelligence and Business Analytics being server-based centralised operations is giving way to self-service and managed entitlements in todays recurring business model. SMBs who have more clout in demand generation than ever before and affordable business analytics, available on-demand, is the future.
I believe by 2015, 50 per cent of business analytics functionalities will be available on mobile devices.
Harsha E, Head IT & Consultant, HKM IT Solutions:
Yes, Business Analytics is going to take off very soon. The ultimate audience of the product and service depends on quality and stability. Hence, BA plays a vital roleit is required for enhanced customer service, product analysis, selling opportunities, efficient inventory management, pricing competition, etc. Data retrieved from various markets can indicate how well a product is received by the target audience and what crucial changes must be made to maximise revenue. This not only helps make minor alterations possible for specific locations but also helps in studying trends.
Ranganathan N, Manager - BITS, Mahindra & Mahindra Financial Services:
Analytics means business. Yes, BA will definitely take off in the near future by helping businesses take better decisions and actually change the way companies do business. Organisations today face diverse challenges with fierce global competition and stringent regulatory requirements. Customer acquisitions, retention and profitability are key concerns.
Additionally, reduced margins, risk management, new product initiatives have put tremendous pressure on traditional decision making tools.
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