Analytics as a field is not new to India. Recognizing the abundance of quantitatively skilled workforce and the cost advantage, companies from all over the world have established their analytics centres in India over the last decade.
Indian companies have also begun to recognize the importance of analytics to gain a competitive edge in the market. As in the west, the financial services sector is leading the way. Most private banks in India are using data mining and analytics to compete successfully. Credit card companies in India are using analytics to predict customer risk profile and identify profitable segments. Insurance providers too leverage analytics for risk estimation.
Organized retail has seen an unprecedented boom in the last 5 years. Large retail chains have sprung up all over the country. In the initial phase, the emphasis was on growth and expansion as all the chains were focusing on opening more and more sites. With growth rates stagnating and margins being squeeze due to increased competition, retailers are now turning towards analytics for that special edge. Point of sale data is being analyzed for store planning and optimization, promotion optimization and marketing effectiveness. Information from loyalty programs is being used to create data-driven marketing strategies.
Telecom is another fast-growing sector that is every amenable to analytics due to the abundance of data available to the service provider. All large Indian telecom companies have created analytics teams within their organization focused on lowering acquisition costs, improving customer profitability and minimizing churn.
Pharmaceuticals, e-commerce and the airlines industry are some of the other sectors that use analytics prolifically.
The rate of adoption of analytics by Indian companies has been phenomenal in the last 5 years. As market conditions drive companies to be more efficient the reliance on analytics will continue to grow.
Some examples of Indian companies that are competing on analytics-
ICICI, HDFC, IDBI, Standard Chartered, RBI, Axis Bank
ICICI Lombard, Bajaj Allianz, Bharti Axa, Max New York
Bharti, Vodafone, Tata Indicom
Shopper’s Stop, Titan, Reliance retail, Spencer’s, Future group, Cafe Coffee day, Arvind mills, Tanishq, Planet M, Gitanjali group
Naukri, Bharat matrimony, e-bay, rediff, Time of India (online), Net carrots
Jet Airways, Kingfisher
Ranbaxy, Pfizer, GlaxoSmithKline, Clinigene
IMRB, AC Neilsen