You may be an employee, a consultant or an CXO of a company. How do you view the $16 bn Analytics industry?
Broadly speaking, when you look at Analytics services, it can be offered by companies in two modes:
- Boutique model
- Captive model
Boutique (also called as Niche Analytics companies) Model
The companies fall under this category has deep expertise in the field of Analytics. They can offer services in almost all major domains such as Banking, Finance, Insurance, Manufacturing, Government etc. to name a few.
They have the right set of people trained on domains, tools & techniques required for any analytics projects. Major clients approach (or vice-versa) these companies to help them in analyzing the data. It typically works like how IT outsourcing takes place.
Few companies in India that are operating under this model are
MNC companies who have big ticket investments would set-up their in-house Anaytics division to cater to their tailored needs. For instance, a credit card company can set-up its own analytics team to prevent and alert the fraud transactions happening over its network in the form of a system.
These companies store the highly confidential data, mostly in BFSI space, hires the consultants in setting-up their division. And then the team grows based on the ROI and the type of projects they take up.
Few examples of such companies are