In a data-driven world, analytics has become the cornerstone of every business model. And innovation is oiling the wheel that's destined towards the future. Combining both – data and innovation – has become the answer to solving many a crisis. That needs talent along with a highly skilled workforce. In a report titled Solving the New Equation for Advanced Analytics Talent, Bain and Company is claiming India will be one of the torchbearers in this aspect in the coming future. From the expected pool of one million people with advanced analytics skills, Indians are expected to make up over 200,000 – that's thrice as much in 2018 at 65,000 people.
The report has credited India for having trained programmers heavily in legacy systems in the 1990s, back when the sixth-largest economy became the outsourcing giant it still is today. It mentions, "Once again, India is taking the lead, but this time through a combination of retraining and a flood of graduates with advanced degrees in subjects suited to advanced analytics work, such as computer science and data science.”
Companies today are focusing not just on training a single skill but several skillsets, which will be relevant for years to come. Automation, robotics, cybersecurity, blockchain, AI and IoT are some of the trends that are picking up, and companies are constantly looking to cash in on these. According to the report, India’s combined advantage of having an “existing ecosystem in information technology, especially in programming and systems integration” and a steady flow of “STEM (Science, Technology, Engineering and Mathematics) degree holders, whose programs of study emphasise data and analytics skills” take the edge over evolving talent pools that include China, Western Europe and US.