The Data & Analytics market is perhaps the most mature industry amongst the other ‘Digital Transformation’ levers that are being utilized to transform the ways of working for organizations. Data & Analytics has seen the journey from simple reporting/descriptive analytics with a siloed approach and fragmented deals to now envisioned end-to-end data & analytics solutions with a risk-sharing model between the service providers and the organization. The market is estimated to be worth around $60 billion in 2018 and is expected to continue on its strong double-digit growth trajectory. Majority of the market is typically categorized by Large market deals where the overall strategy of the organization drives the nature of the Data & Analytics solutions. The overall industry might have reached maturity, which makes it easier to chart out the future of data. These three key aspects are indicators as to how data will be utilized by organizations in the future:
While the above three aspects determine the number of streams and nature of data, the supply chain of data would partially determine how it will be utilized. The traditional supply chain for data would be replaced by a collapsed data supply chain where ingestion, storage, preparation, and decision-making are happening simultaneously through a number of data sources ranging from the organization itself to its partners and external environment. The alteration in the nature of supply chain for data & analytics and the utilization of Artificial Intelligence (Machine Learning, NLP etc.) over cloud is what a near ultimate model for data & analytics looks like until a new technology causes disruption in either the organizational blueprint or solution blueprint for the industry.
The nature of the supply chain is just one aspect of a data & analytics solution. The other aspect is where the solution is being utilized. The user and the layer are key deciders when it concerns the purpose of data and the lever for the outcome. Being one of the most advanced technologies as far as ‘Digital Transformation’ is concerned, it makes data & analytics an accelerator for the adoption of other technologies by acting not only as a multiplier within the transformation blueprint but also through an organization-wide presence. Data & Analytics can be utilized at every layer of the organization and across stakeholders for different purposes:
As it might be observed in the product cycle for most of the new-age technologies, an overall IT/BPO transformation deal is more likely to have these technologies as parts of the overall transformation blueprint. Stand-alone deals are more likely to positively correlate to the maturity of the particular technology. The aggrieve push by service providers to mine existing accounts, especially when it concerns stand-alone deals, reflects the maturity of the market. Another aspect that is atypical for Data & Analytics is that the major revenue chunk lies in the FTE-based commercials rather than a fixed cost or outcome-based model. Data & Analytics has nearly reached its ultimate potential, and therefore, we expect a majority of the organization to have developed their own data, analytics, and insights capability. However, it simultaneously lacks the talent required for skills across both traditional and collapsed supply chains.
The lack of talent coupled with the growing need for specialization with data roles will create a massive demand for talent in the future. We will see the emergence of roles at every point of the traditional data supply chain. Testing, manipulating and checking the datasets before it is processed while making sure that the data deployed is in accordance with the operating model of the organization are two particular skillsets which are underappreciated. At the same time, coupling AI/ML with already existing Data Analytics applications might help uncover data pockets which were either undiscovered or were insignificant to business decision making. Social Contract will only increase to gain prominence in the coming years and talent whose specialization lies in data compliance and ethics is only bound to grow in importance and demand.
Enterprise and Process Transformation has always been coupled with Intelligence and Data visualization. Wipro EOT not only equips our clients with their transformation blueprint but also empowers the transformation with the appropriate analytics. Intelligent Automation forms the core of our offerings, and over the years, we have evolved capabilities across the data supply chain which include the following:
Enterprise Operations Transformation has led transformation initiatives for clients globally across processes and functions, while keeping data as an important aspect for any recommendations or suggestions that we make to the client.
References
Kunjal Kaw
Assistant Manager, Enterprise Operations Transformation
Wipro Limited
Kunjal has 6+ years of experience across advertising, media, and PR, covering Brand Management, Strategic Marketing, ATL/BTL/Digital Advertising, and Trade Marketing. He also has hands-on experience in Trade Marketing and Brand Strategy across various brands.