NASSCOM, in association with AbsolutData Research and Analytics, has released a report titled, ‘Marketing Analytics – An opportunity for India to Lead’. The report highlights how companies are increasingly using marketing analytics insights to gain competitive advantage in the market. With increased complexity in the current consumer environment, CMOs and business unit heads are utilizing marketing analytics for their strategic and tactical decision making.
It highlights that India is delivering analytics solutions, which are being used for post-mortem analysis to real-time decision making. The country has a distinct advantage in delivering analytics with an abundant supply of “trainable”, cost effective analytics talent and players with extensive analytics delivery experience. The Indian marketing analytics industry is expected to grow from its present value of $200 million to $1.2 billion in 2020 at a CAGR of 25%.
Som Mittal, President, NASSCOM, said, “Over the past few decades, the evolution in traditional media and the emergence of digital media has revolutionized the way products are sold to the customers. Marketing analytics play a pivotal role in helping marketers take informed data-driven decisions and effectively reach out to the audience. The marketing analytics industry is poised for exponential growth and India will be one of the foremost forces leading this revolution. This report is an effort to showcase potential of analytics to organizations, analytics players and prospective employees and will help pave the way for concerted effort to increase the usage.”