Kashyap Raibagi

Kashyap Raibagi

Kashyap currently works as a Tech Journalist at Analytics India Magazine (AIM). Reach out at kashyap.raibagi@analyticsindiamag.com

Top Data Science Providers in India 2021: Penetration and Maturity (PeMa) Quadrant

Data-driven solutions have become an integral part of firms across industries as they strive to improve decision-making or automate processes. Subsequently, the number of vendors providing analytics has increased considerably in India over the last couple of years. Choosing the right data science service provider has become one of the most crucial decisions enterprises make. To assist enterprises in making this decision, Analytics India Magazine (AIM) has come up with the Penetration and Maturity (PeMa) Quadrant — an industry benchmark of vendor capabilities. AIM measures key parameters of leading service providers in terms of Penetration (Pe) and Maturity (Ma) and plots the relative positions of the firms on the Quadrant.  A balance between both these parameters is essential to respond to a client’s business challenges and seize revenue opportunities. The PeMa Quadrant, thus, helps enterprises get a complete overview of the capabilities and experience of vendors available in the market and consider how they are stacked against each other. You can read the PeMa reports from previous years here: 2020 | 2019 | 2018 The 2021 PeMa study is a result of extensive primary and secondary research carried out across the market. The primary research details were collected by circulating a survey form across the companies. The questions in the survey were curated by conducting preliminary research to identify what aspects define Penetration and Maturity of a Data Science vendor the best. Vendors were scored for each question in the survey form using uniform evaluation criteria based on their answers—outliers were capped. These scores were then normalised between 0 to 1. Finally, the average of these normalised scores made the sub-index scores, and the average of the sub-indices made the Penetration and Maturity index of the respective vendors. This year 41 data science service providers participated in the study, of which 33 made it to the quadrant. No fee was charged for participation in the survey, and the participation was voluntary. The questions were answered by the companies using a Google Form. We reached back to nominees in case of discrepancies or clarifications required.The vendors not mentioned in the report either did not participate in the study or did not meet the minimum criteria to be scored and plotted on the PeMa quadrant. The hierarchy used to calculate these sub-indices (using the answers to the survey questions) and then to calculate the Penetration and Maturity can be seen in the chart below. The below table presents the sub-index and Penetration and Maturity scores of all the vendors that made it to the PeMa Quadrant 2021. Click on the column headers of the table to sort the table on that index. Use the metric slider on the right-side top corner of the table (that appears when you hover over the table) to filter vendors based on their index scores. The PeMa Quadrant is plotted based on the Penetration and Maturity scores of the companies — hence the companies are placed in one of the four quadrants — Leaders, Seasoned Vendors, Challengers and Growth Vendors, respectively.  Below we […]

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State Of Data Science In Domestic Indian Firms – 2021

Many organisations across sectors in India firmly believe that data science is a crucial aspect of an enterprise to scale sustainably. This has accelerated the overall adoption of advanced analytics and AI in India, with organisations investing considerably to improve their analytics capabilities. This report is an effort to get an overview of data science in domestic Indian enterprises. The report aims to present the state of data science in the domestic Indian market by analysing the analytics adoption of key Indian firms. The study considers around 50 key organisations to quantify the analytics maturity and penetration using different parameters across industries. It provides a greater understanding of what mature organisations are doing to draw tangible results from their analytics investments. The study reveals that almost all enterprises have realised the importance of data science. All organisations are leveraging analytics at some level to improve their decision-making and automate/operationalise processes for better productivity and cost-effectiveness. The study observes that all sectors are at different stages in terms of their analytics penetration and maturity. At the same time, all of them have a scope for improvement. Read reports from previous years here: 2014 | 2016 | 2017 | 2018 | 2019 Definitions Around 50 large-sized companies were considered for this study. Different firms across sectors with significant revenues in the Financial Year 2021 were sampled for the analysis. The following sectors were considered: Power, Oil Drilling & Refineries, Steel, Automotive, Telecom, Public Sector Banks, Private Sector Banks, Financial Services (Non-banking), and E-commerce. Analytics penetration is a metric that denotes the degree of infusion of analytics function in an organisation. It quantifies the approximate number of analytics professionals employed by the organisation for every employee within the whole firm. So, a penetration of 1% should be read as one analytics/data science professional for every 100 employees with the organisation. Analytics maturity is the metric to quantify the quality and depth of analytics adopted within an organisation. Maturity is a combination of three factors: Employee TenureEmployee seniority in that organisationPercentage of AI in the analytics function Analytics adoption is calculated at the penetration of more than 1.0%, i.e. the organisation has at least one analytics professional to support 100 employees within the organisation. This threshold for the 2018 and 2019 report was considered at 0.75%. It is important to note that these are relative metrics, and organisations, as plotted here, are based on a comparative study with respect to each other and should not be compared to other organisations outside this study. Also, the values may differ in terms of global standards. Another point to keep in mind is that the numbers would be negatively biased towards organisations that outsource their analytics functions heavily. Key Highlights Adoption Analytics adoption among the largest firms in India stands at 74.5% in 2021.Private Sector Banks and E-commerce sectors have the highest analytics adoption at 100.0%.Around 43.4% of analytics functions of the top Indian firms are based out of Mumbai, followed by Delhi at 24.3%.Almost one in […]

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Study: Analytics and Data Science Jobs in India: June 2021

Study: Analytics and Data Science Jobs in India: June 2021

The analytics job report, presented by Analytics India Magazine (AIM), provides a broad study of the data science job landscape – covering profiles and roles that require analytics competencies and skills. The research provides a comprehensive view of the talent market that was affected by the Covid-19 pandemic and its recovery since the lockdown restrictions were lifted. The report highlights the upswing in analytics jobs in the post-pandemic world and factors that have led to it. This report also outlines which functional analytics skills and programming languages are currently most in-demand in the market. The report provides insights for recruiters and hiring companies to study the demand for skills across the analytics function. They can identify and close any capability gaps across workforces. By highlighting the talent hotspots in the country, the report enables organisations to build a steady talent pipeline from various regions or cities. Benefits and Key Takeaways We hope the report is a handy point of reference for aspiring professionals, industry experts, and think tanks. As a result of the unfortunate pandemic, the analytics space in 2020 witnessed changes and churn in terms of job losses and a slowdown in job creation. The accelerated adoption of data science/AI technologies that began immediately after the 1st wave of the pandemic, and the renewed business activity of companies, which led to the hiring of analytics professionals, are crucial factors that have led to an upswing in data science jobs. The enthusiasm and optimism around the analytics function in India continue to remain high, and the industry is cautiously anticipating what the future holds for data science and jobs within this domain. Introduction This Job Study is a holistic analysis of the Indian Analytics and Data Science jobs and skills landscape. This study/report covers the top job trends in the analytics space, specifically open jobs at a given point in time. It provides a detailed break-up and analysis of jobs by certain criteria, such as cities, industries, experience levels, technologies/tools, and salary hierarchies. The report provides details and analysis of the types of companies that are recruiting key talent in the data science domain.  The report identifies reasons for significant shifts or changes in hiring trends across the criteria defined above. Please find reports from previous years here:2020 | 2019 | 2018 | 2017 Top Trends In Analytics And Data Science (Source for the job figures and trends below: Leading career portals, including Naukri.com, LinkedIn jobs section, and Monsterindia.com) Open Data Science Jobs Trend (April 2014 to June 2021) Although it is difficult to ascertain the exact number of open analytics job openings for a given month, around 137,870 open jobs were available at the time of reporting in the 2nd week of June 2021, according to the analysis carried out by AIMResearch. This is the highest number of analytics jobs advertised in India (since AIM Research started recording these numbers in April 2015)These open jobs are available jobs to be filled in the data analytics function at any given […]

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AIMResearch Releases Report On Responsible AI Adoption In Indian Enterprises

AIMResearch Releases Report On Responsible AI Adoption In Indian Enterprises

A new report released by AIMResearch analyses the current state of Responsible AI among Indian enterprises. The report, titled “State of Responsible AI in India” highlights the efforts made by organisations in India to ensure AI’s safe and responsible development and draws attention to areas that need improvement. The report is based on a survey of Indian AI firms conducted by AIM Research in May 2021. The study provides a complete overview of where Indian enterprises stand in adhering to AI principles such as fairness, transparency, accountability, explainability, human control, etc. This report will help enterprises and the overall Indian AI industry better their policymaking to ensure the safe and responsible development of AI.  Access the complete report here. The rapid advances in AI and its potential to make decisions and automate tasks significantly impact individual autonomy and change societies’ functions. Thus, it has become essential that we assess how AI is built and ensure that it is deployed in a manner that does not negatively impact individuals or societies.  According to the report, Indian enterprises developing AI are making a considerable effort in adopting guidelines, frameworks, and other best practices but lack behind in conducting third-party audits or impact assessments of their AI systems. Two-thirds of the Indian AI firms or 66.7% have adopted a formal risk evaluation or auditing framework, but only 6.9% have hired external auditors. The report provides a thorough analysis of these AI enterprises across different parameters like the size of the data science unit, type of the firm, and headquarter location.  The reports’ findings show that larger firms perform comparatively better when documenting risk evaluation guidelines, adopting bias detection frameworks, ensuring safety, and hiring third-party auditors. However, they fall behind in conducting periodic human-rights impact assessments of their AI systems. Around seven in eight or 87.5% of the firms with large data science units have documented safety standards checklists for their AI systems compared to 75.0% and 60.0% of the medium-sized or small data science units. At the same time, large data science units at 37.5% are around twice as likely to not perform long-term impact assessment on any of their AI systems compared to medium-sized data units at 16.7% and small data science units at 20.0%. Boutique AI firms that provide niche AI products or services do better in most principles of Responsible AI than big IT firms that provide AI-as-a-service. They are more likely to have audit guidelines, standards checklist for algorithmic fairness, and bias detection frameworks. They are also more likely to have a transparent AI system, perform periodic human rights impact assessment, and allow more human control. More than nine in ten or 92.3% of the boutique AI firms use an explainability framework to better understand their AI systems than the 75.0% of the IT firms providing AI-as-a-service. Also, around 15.4% of the Boutique AI firms conduct a human rights impact assessment on every AI system when only 6.7% of the firms providing AI-as-a-service do it. Lastly, firms with headquarters […]

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ANALYTICS INDIA INDUSTRY STUDY

Analytics India Industry Study 2021

The Indian analytics market has seen considerable growth since Analytics India Magazine (AIM) began researching and studying the domain seven years ago. This report, which is now in its 7th year, provides insights into India’s state of the analytics industry across sectors and enterprises. The report analyses the direction in which the Indian analytics industry is headed. The financial year of 2020-21 was not like any other since the world faced the Covid-19 pandemic, and India enforced one of the strictest lockdowns. Like every other industry, the analytics and data science industry was no exception and faced the brunt of the pandemic. Firms had to lay down their employees and freeze recruitments. However, as the lockdown restrictions were slowly lifted, the post-pandemic world presented the analytics industry with favourable conditions that have ensured significant growth. The main factor was the increased digitisation that led to massive data resources among companies. As enterprises tracked digital transactions, consumer behaviour could be observed and analysed. This analysis helped increase sales and improve customer satisfaction. Also, the need to avoid human intervention/contact amid the pandemic led to the accelerated adoption of intelligent automation or AI. This happened across every sector and for all business sizes. Suddenly, there was a surge in demand for an analytics workforce that could help enterprises grow in such difficult times. The Indian analytics and data science industry will continue to grow and play a key role in decision-making across every sector and industry. The industry will also develop sophisticated and intelligent autonomous systems to help achieve tasks with greater precision, speed, and efficiency than their human counterparts. All past reports: 2020 | 2019 | 2018 | 2017 | 2016 | 2015 OVERVIEW As covered in our reports regarding the development of the data science domain in India, it is evident that the analytics and data science function has experienced significant growth over the last year, despite the pandemic. The rising trend in salaries across almost all parameters, the maturing of the analytics market in terms of experienced hiring and salaries offered, the significance of gender diversity in the Indian analytics function, and the $836.3 Mn investment in Indian AI and analytics start-ups in 2020, are self-explanatory in terms of the development and global standing of the Indian Analytics market. This development has facilitated the increase in the current market size of the Indian analytics industry to $45.4 Bn. This signifies a growth of 26.5% in the market size y-o-y. Last year, the analytics function garnered $35.9 Bn in size. The analytics function experienced growth across almost all companies, industry types, services rendered, and geographies. The analytics industry will continue to grow in the coming years. However, the pandemic has impacted the scale and the scope of the analytics industry. Some of these impacts are short-term, while others have permanently changed the way analytics teams will operate. In this report, we have analysed the various characteristics of the Indian analytics industry, such as size, demographics, and employees and how they […]

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