- It’s difficult to scale up analytics capabilities due to a global shortage of talent.
- Delivering analytics solutions globally needs a balance in solution consistency across regions while retaining a degree of localization.
- Industry faces a high cost in attrition as analytics is a combination of complex skills that are hard to find and takes time to build.
- Leveraging BIG data requires players to have new skills especially in technology and business integration.[divider top="1"]
Showing the client, the ROI from their spend on Analytics-that is the biggest challenge. Sometimes, the benefits of Analytics cannot be translated into a dollar sum and that is where the ingenuity of a good Analytics consultant lies - To show them the money.[divider top="1"]
As a relatively young company, we are oftentimes competing with larger players with significant scale. Staying ahead of the pack requires a strong focus on quality and level of insight, as this is our key differentiator. We strive to do this by hiring very selectively, creating a strong culture of research excellence while simultaneously using best-in-class tools/methodologies to streamline processes.
What we lack in scale and size relative to large multi-divisional multinationals, we make up for with a very sharp focus on the financial services client and our understanding of the financial services domain.[divider top="1"]
Analytics is not new but surely in recent years it has gained a lot of popularity. Analytics was used since ages in simpler forms but with businesses now implementing analytics in more professional manner, it is at its best stage now. With growing implementation across industries and levels, analytics is increasing in popularity. But in spite of this there are some challenges in the industry:
a. Lack of awareness about analytics career amongst the youth.
b. Lack of educational institutions providing professional degree and certification courses in analytics.
c. Without qualified analytics professionals, it becomes difficult for businesses to implement analytics even if they know its importance.
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Bhasker is a Data Science evangelist and practitioner with proven record of thought leadership and incubating analytics practices for various organizations. With over 16 years of experience in the area of Business Analytics, he is well recognized as an expert within the industry. Earlier, Bhasker worked as Vice President at Goldman Sachs. He is B.Tech from Indian Institute of Technology, Varanasi and MBA from Indian Institute of Management, Lucknow.