Indian business analytics market fastest-growing across region

A new report by Tableau, in partnership with IDC, has shown that the Indian business analytics software market will growing in India at 9.6 per cent year-on-year through 2019, compared to growth of 6.8 per cent across the Asia-Pacific.

Spend on end-user tools including visualisation is forecast to grow at 10 per cent in India, compared to 7.2 per cent across the region.

The report, ‘How Culture and the Right Analytics Drive Success for Leading Organisations in Asia-Pacific’, is based on the findings of a survey of 207 respondents in both IT and line-of-business roles, across India, Japan, Australia and Singapore.

“Of the countries studied in Asia-Pacific, Indian users are the most likely to feel their analytics needs are met,” said Craig Stires, associate vice president, big data, analytics and software, IDC Asia Pacific.

“However, self-service analytics and mobile capabilities still hold the biggest gaps in user needs today. In India, users indicate higher frequency of usage of analytics tools, with 60 per cent increase in daily and weekly usage over other countries studied. This is very important, as daily use of BI/analytics results more frequently in 50 per cent-plus improvement of business outcomes.”

In India, the business processes that have the highest utilisation of BI/analytics are IT, risk management, customer service and inventory.

The report found that the organisational benefits, both quantitative and qualitative, that self-service analytics provide to decision-makers at various levels within the organisation are defining the next big trend in data analytics.

Using next generation analytics tools, organisations are addressing pain points in a variety of areas like processes, risk management, optimisation of resources and customer management while also reducing time required for data review.

“Instead of confining access to critical data to an exclusive group of data scientists, we’re seeing that self-service data analytics is now on the rise with more organisations embracing a culture of data-driven decision-making,” said Deepak Ghodke, country manager, India, Tableau Software.

“With Tableau, domain experts across lines-of-business are able to conduct their own analyses, ask the right questions, and benefit from rapid-fire insights from their own data sources.”

Looking across the region, users in Asia-Pacific have cited shortcomings in ad hoc analysis, visual analysis, and mobile access to information as inhibitors to the broader and more effective use of analytics.

Seventy-five per cent of business users surveyed felt that their needs for key features are not being fully met, and there is room for improvement. IDC found that purpose-built analytics solutions that go further than the commonly available enterprise reporting solutions can address these deficits. And there is considerable upside for the organisations that do better meet the needs of business users – they are twice as likely to outperform organisations that underserve these needs.

The report concludes that employees with analytics tools that better suit their needs, see more frequent use of analytics and are more likely to enable their employers to realise greater benefits in the form of cost reduction, revenue increases, productivity increases, and improved innovation rates.