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Big Data Analytics plays an important role in driving business strategy and effective decisions: Tarun Bhatnagar

Big Data Analytics plays an important role in driving business strategy and effective decisions: Tarun Bhatnagar
By Dr. Dilip N Pandit

Engineering students must be more practical as every change in technology needs to be tackled through innovative thinking

Big Data Analytics is one of the hottest skills these days and will remain so for quite sometime. There is a huge amount of data floating around. What we do with it is all that matter snow. This is why Big Data Analytics is at the frontiers of IT. Big Data Analytics has become crucial as it aids in improving business, decision making and providing competitive edge to businesses. This applies to organizations as well as professionals in the Analytics domain. There is no doubt that there are more job opportunities in Big Data Management and Analytics than there were last year, and many IT professionals are prepared to invest the time and money for acquiring new skills. In the next few years, the size of the analytics market will evolve to at least one-thirds of the global IT market from the current one-tenths. These views were echoed by Shri Tarun Bhatnagar,CEO of Medha Innovation and Development Pvt. Ltd., a technology company specializing in the data integration and analysis.

New Jersey based technocrat, Shri Bhatnagar a Cornell management graduate with years of experience at IBM and EY US, says that youth of the world must ready to face challenges posed by the ever changing technology domain. Engineering students must be more practical as every change in technology needs to be tackled through innovative thinking rather than academic status and grades. They must be aware of the trends and prepare themselves for it.

 He says that recent research conducted by Quin Street Inc., has found that the trend of implementing Big Data Analytics is zooming and is considered to be a high priority among U.S. businesses.A majority of organizations are in the process of implementing it or actively planning to add this feature within the next two years. A McKinney Global Institute study states that the US will face a shortage of about 190,000 data scientists and 1.5 million manager sand analysts who can understand and make decisions using Big Data by 2018.

What he feels is that India currently has one of the highest concentrations of opportunities for big data and analytics globally. In spite of this, the scarcity of data analytics talent is particularly acute and the demand for talent is expected to increase as more global organizations look to leverage the global talent pool.

He is very much optimistic and feels that a strong demand for Data Analytics skills is boosting the wages for qualified professionals and making Big Data pay big bucks for the right skill.This phenomenon is being seen globally where countries like US, Australia and U.K are witnessing this phenomenon.

New technologies are now making it easier to perform increasingly sophisticated data analytics on very large and diverse data sets. This is evident as a report from The Data Warehousing Institute (TDWI) shows. According to this report, more than a third of the respondents are currently using some form of advanced analytics on Big Data,for Business Intelligence, Predictive Analytics and Data Mining tasks.

As he points out that Big Data Analytics play an important role in driving business strategy and making effective business decisions. It is a given that there is a huge demand for Big Data Analytics owing to its awesome features. The tremendous growth is also due to the varied domain across which Analytics is being utilized.