DATA IMPACT IS REDEFINING INTELLIGENCE ACROSS INDUSTRIES
DataQuest|August 2022
Indian businesses are making significant investments in technologies to unleash the power of data and capitalize on its vast potential, says Prasad Rai, Vice President, Global Strategic Clients Group, Oracle India
Aanchal Ghatak
DATA IMPACT IS REDEFINING INTELLIGENCE ACROSS INDUSTRIES

What is India's role in the data economy today? 

Over the last few years, India has begun a historic transition toward becoming a data economy fuelled by a variety of factors such as government support, rising internet penetration, mass urbanisation, digitization of skills, and the expansion of the startup ecosystem. Data is at the heart of these factors; its impact is redefining "intelligence" across industries and guiding Indian businesses toward innovation, growth, and well-being.

How has been the progress, so far? What more needs to be done?

In the past decade, India has experienced explosive growth in the data analytics industry due to the rise of internet users. The internet penetration has doubled from 20% in 2018 to 41% in 2019, according to World Bank, and is expected to add over 900 million users by 2025. Individuals and enterprises in India are generating a significant amount of personal data because of the proliferation of digital services. This vast collection of data has created a vast pool of data and prompting organizations to expand their data analysis capabilities.

This expansion has aided the data analytics industry by significantly increasing the collection of data that can potentially be used to enter new markets. The data analytics industry already recorded a substantial 26.5% year-on-year growth in 2021, with the market value reaching US$ 45.4 billion.

Indian businesses are making significant investments in technologies to unleash the power of data and capitalize on its vast potential. However, the broader economy has yet to capitalize on the wide opportunities offered by dataled insights. We are seeing a greater push from both the government and private players, and based on current trends, we may see a more synchronized framework to leverage the actual power of data to advance our economy to greater potential.

هذه القصة مأخوذة من طبعة August 2022 من DataQuest.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة August 2022 من DataQuest.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.

المزيد من القصص من DATAQUEST مشاهدة الكل
Navigating Chaos: Ensuring Trust in Digital Communication
DataQuest

Navigating Chaos: Ensuring Trust in Digital Communication

Amid Escalating Fraud Risks, CPaaS Tools Emerge as Crucial Allies. SMS, Despite Vulnerabilities, Retains Vital Role in Real-Time Alerts within a Turbulent Digital Landscape

time-read
3 mins  |
June 2024
Multimodal AI for Media and Entertainment: Transforming Creativity and Engagement
DataQuest

Multimodal AI for Media and Entertainment: Transforming Creativity and Engagement

Multimodal AI sets new standards in personalization and interactivity within the digital media landscape.

time-read
3 mins  |
June 2024
Transforming Your Flying Experience with AI
DataQuest

Transforming Your Flying Experience with AI

Are you still flying the old way? Check out AIonOS, and see how it's going to transform your regular flying experience.

time-read
2 mins  |
June 2024
IoT Security Best Practices
DataQuest

IoT Security Best Practices

With increasing integration of IT and OT systems, organizations must develop a comprehensive IoT network strategy to safeguard themselves

time-read
4 mins  |
June 2024
Edge Computing Elevating Telecom's Realm Beyond loT
DataQuest

Edge Computing Elevating Telecom's Realm Beyond loT

Edge computing heralds a new era in telecommunications, propelling the industry toward unprecedented levels of efficiency, reliability, and innovation. And, the rapid integration of Internet of Things (IoT) devices in telecom industry is reshaping industries. Yet, the surge in IoT adoption brings forth a pressing challenge: the imperative for low-latency processing. Enter edge computing, a pivotal solution offering the infrastructure necessary to power real-time applications and elevate the performance of telecom networks.

time-read
5 mins  |
June 2024
Time for Good Voodoo Dolls! Time for Digital Twins!
DataQuest

Time for Good Voodoo Dolls! Time for Digital Twins!

Why waste resources, material, experts, downtime and effort in actual machines, processes or systems? Why not use some digital Juju?

time-read
8 mins  |
June 2024
IoT Devices and Zombie Mushrooms - It's Time
DataQuest

IoT Devices and Zombie Mushrooms - It's Time

They are small, they are out there everywhere, they are supposed to help the tree trunk. But what if the tiny creatures we celebrate as IoT sensors and devices are hijacked by a mind-control fungus? Let's remove the 'if'. Here's why

time-read
9 mins  |
June 2024
Forward and Onward
DataQuest

Forward and Onward

Jigar Mehta, Managing Director, Onward Tech in conversation with Minu Sirsalewala, Executive Editor, Dataquest, elucidates why Onward Technologies has placed its bets on a pure-export business strategy, the no-IP stance and on that big chunk of huge R&D contracts of global companies that are waiting to be tapped. And how being a young company is helping with advantages and challenges unique to that stage. Global Vision, Local Talent: Onward Technologies' Strategic Pivot to International Markets\"

time-read
5 mins  |
June 2024
Building Enterprise Trust: Essential for Indian Businesses in the Digital Era
DataQuest

Building Enterprise Trust: Essential for Indian Businesses in the Digital Era

As Indian businesses navigate a rapidly evolving landscape, the importance of building and maintaining enterprise trust has never been more critical. In this piece, we explore why trust is paramount, the factors eroding it, and actionable steps organizations can take to foster trust, leveraging data and analytics for greater transparency and accountability.

time-read
4 mins  |
June 2024
Decoding Retail Stock Broking: Angel One's Data-Driven Success Story
DataQuest

Decoding Retail Stock Broking: Angel One's Data-Driven Success Story

Exploring the dynamic retail stock broking sphere, Angel One Limited, under the leadership of Chief Technology Officer (CTO) Jyotiswarup Raiturkar, thrives within a vast market domain. With the industry witnessing rapid expansion driven by technological innovations, Angel One's strategic prowess has secured a prominent position within this flourishing market. He discusses how Angel One's innovative approach has not only reshaped its operational framework but also cemented its presence within the expanding retail stock broking market.

time-read
3 mins  |
June 2024