Tata Teleservices has become one of the first companies in India to harness Big Data to bolster its legal and regulatory operational requirements. Tata Teleservices CIO Ashish Pachory explains to Nandagopal Rajan the need for Big Data and how his company has been using it across several aspects of its functioning. Excepts:
How synced in are Indian companies about the opportunities of Big Data?
Indian companies are gradually coming into sync with their global counterparts in tapping the true potential of Big Data. Desktop analytic tools are no longer sufficient as the volume, velocity and variety of data are growing exponentially. Advanced analytics are key to providing companies with the ability to conduct analysis and simulations of all business transactions, while presenting a model which is concise, relevant and accurate.
How big is the market?
International Data Corporation (IDC) estimates that the global market for Big Data will reach $16.1 billion in 2014, achieving growth six times faster than the overall IT market. With the anticipated surge in data consumption and generation, growth of the Big Data market is inevitable. In addition, security programmes associated with the technology will see increased prominence across sectors such as retail, IT, e-commerce, health, aviation and telecom.
Are we seeing smaller companies tap into Big Data?
SMEs are gradually opening up to the idea of effectively using Big Data analytics and are following the lead of larger enterprises. It is critical for smaller companies to understand and adopt Big Data solutions, which also tend to be cost-effective, in helping their business function more efficiently under the aegis of hard-core insights.
Are most Big Data solutions beyond small and medium companies?
Smaller companies are generating data in proportion to their size. With Big Data analytics, it becomes easier and more economical to manage huge chunks of data that can be used for various kinds of analysis ranging from customer behaviour to purchasing trends. Small businesses using data intelligently can equip themselves with opportunities to streamline processes and customise product and service offerings. Thus, we are now also seeing a lot of smaller e-commerce platforms leveraging Big Data to their benefit.
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