Monetising data key to big growth in IT

Tags: News

Firms are analysing data for predictive modelling

As the world realises the significance of data and its analysis, IT companies believe the winner would be the companies who can monetise the data and move fast. Companies such as ITC Infotech and Ness Technologies, which has been providing technological and engineering services to Israels’ defense and to sectors like automotive, retail and banking, believe most of the companies are trying to monetise the cross domain applicability of data that can be analysed for best use by different sectors which were supposed to be unrelated till now.

Kailash Attal, SVP and chief solutions and marketing officer of Ness Technologies, says what data analytics has done is to bring all the cross domains and sectors together. The applicability of one data to infer and analyse the importance for others was unheard of earlier. Companies such as Walmart and Tesco are analysing the customer loyalty data, weather data, demographics and doing a predictive modelling that helps them to target value based products to different class of people based on weather conditions and people behaviour. “The system is using data from three different segments like demography, retail, weather, to analyse the behaviour and spending pattern and maintaining exact inventories. It is a huge investment opportunities and the winner would use those who can monetise the data in the most effective and efficient manner,” said Attal.

“We have a resource of around 500 information services practice that can be used from transportation to retail to banking or in automotive sector.” The companies believe that demands for customised and customer experience centric products are only expected to grow and so would the requirement for data analytics and services and solutions to meet these demands at faster speed.

Ajeeth Jagannath, SVP India and Asia Pacific of ITC Infotech India, said there are huge opportunities in the area of business process management and business life cycle management. Apart from that product engineering in terms of providing better customer experience by analysing data from our retail, FMCG and supply chain business and offering that as services to others and also within our group companies.

“We are offering customised services to our clients in Airlines business mostly in Latin America, Europe and Australia. We are building the customer loyalty programmes and we are replicating something similar in the hospitality segment as well in Europe,” said Jagannath. According to him, “There are around 750 captive units being run by MNCs in India to save on costs however they have emerged as big firms unto themselves and present a strong opportunity to firms like us to target their migration from windows XP to Windows 7 for which Microsoft has set April 14 as the deadline.”

vikassrivastav@mydigitalfc.com

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