Market reports show the Indian Data Science Industry has seen exponential growth of late. Pandemic notwithstanding, Analytics and Data Science industry recorded a 26.5% growth in FY 2021.
Not surprisingly, the number of Data Science providers has also gone up as the industry has ballooned. Many such vendors have grown from small operations and scaled in quick time.
The changing technology landscape has prompted forward-looking companies to enlist Data Science services to unlock value and drive business outcomes. To find the ideal fit, companies should consider different parameters, including the vendor’s Data Science unit, employee structure, workflow and processes. The businesses should also look at the size and type of vendor’s clients.
Analytics India Magazine has developed the Penetration and Maturity (PeMa) Quadrant to identify the top Data Science vendors in the industry. The PeMa Quadrant is an industry benchmark to measure the key capabilities of leading Data Science service providers in terms of their penetration and maturity.
Check out last year’s PeMa Quadrant here.
The Penetration index in the Quadrant evaluates the vendor’s position in the market compared to its competitors. This is measured by analysing the number/variety of customers it caters to and measuring the Data unit’s growth over the last year.
The Maturity index identifies a vendor’s progress in terms of the work it delivers. It also analyses the Data unit’s demography. The index accounts for various factors like the age of the unit, employees’ experience, technological advancements, and budget growth.
Vendors with more mature capabilities and with the advantage of superior data science services and standardisation are plotted higher on the Quadrant or Matrix. The research, carried out across the Indian Data Science market, plots the relative positions of various enterprises across the Quadrant.
For more information on the PeMa Quadrant please visit here.
If you are a Data Science provider and would like to be considered for the PeMa Quadrant evaluation for 2021, please fill the form here.