While most people crib about having to study mathematics, here is an ironic truth – Math means Business and is in demand, we analyzed the trends in Analytics and here is our view. We have seen a jump in hiring activities in this domain ,in addition to large analytics companies we see many start ups coming up in India of late ,this shows the increasing demand for Analytics and professionals practicing it .
Analytics refers to the skills, technologies applications and practices which are used to investigate the past performance of a business to gain an insight and drive business planning
Off late in Recruise we have seen companies concentrating more on captive units in analytics space rather than outsourcing.
Business Analytics plays an important role in the present scenario for an organization inorder to enhance the performance and to strive for its best.
Types of Analytics
- Descriptive Analytics
- Predictive analytics
- Prescriptive analytics
Analytics is being practiced in varied domains here is the below list of the basic domains
- Retail sales analytics
- Financial services analytics
- Risk & Credit analytics
- Talent analytics
- Marketing analytics
- Fraud analytics
- Pricing analytics
- Supply Chain analytics
Business analytics is a fast growing field and there are many tools available in the market to serve the needs of organizations. The range of tools starts from relatively simple statistical tools in spreadsheet to statistical software packages to sophisticated business intelligence suites. The most popular tools used are.
Besides all the above tools some organizations develop in-house tools designed for specific purposes
We certainly have a good talent pool of analytics professionals scattered across India. Below is the head
count City and Company wise.
Institutes &Academics of Analytics Professionals
While a B.sc /M.sc/Phds in Statistics is a basic qualification for a job in Analytics we see companies hiring from Engineering colleges right from IIT,RECs to even to any basic college in India. B-schools in our country do offer some specialized courses in Analytics and this for Managerial candidates. We even have training institutes like NIIT, Aptech institutes offering training into Tools used for Analytics. We could learn SAS,SPSS like tools in 3-6 months and the course fee is anywhere between 10-15 thousand rupees.
Current Hiring Scenario
Mu-Sigma, Genpact , HSBC , TCS , HP ,Cognizant & IBM are big names in the Analytics space and they are definitely looking to get bigger as we see a rise in hiring activities in most of these companies, Below is the analysis of the hiring activity across varied location and industries
Challenges in Recruiting Analytics Professionals
Any role in a company would definitely have some challenges in hiring, Analytics is no different. Although we have a good supply of candidates, we face at least one of the following challenges every time we work on any analytics requirement
- Communication Skills – although the role demands excellent number crunching skills communication plays a decent part in the delivery process
- Compensation – Analytics is a practice in demand and the professionals are paid good, there have been instances where our clients had to extend their budgets to get a professional on board
- Other offers – All big & small analytics players are hiring, we speak to a dozen professionals everyday and on an average 2 in every 5 candidates are at least in talks with other companies for jobs.
- Notice period – this factor affects most of the above challenges as normally candidates would have to serve 3 months notice from the date of resignation. More time = many interviews = multiple offers and this is a nightmare for recruiters like us as we invest a lot of time on candidates
- Retention – we have seen companies retaining candidates given them decent hikes on par with the offers, we have lost at least 2-3 candidates in the past due to this. This is mainly in the mid-level and senior management roles.