India?s fourth largest software exporter HCL Technologies is in the process of creating a $1-billion business analytics business that will focus on marketing analytics, operations research and fraud analytics. ?We want to create a $1 billion business analytics and it is a new blue ocean for us along with mobility and system oriented architecture services,? said HCL Tech’s CEO Vineet Nayar.
Estimated at a size of over $100 billion, business analytics as a business is likely to grow at near double digit rates in the immediate future and the IT major is cashing on this opportunity to grow business analytics ?significantly?. ?There are no specific verticals which are driving this growth. It is a cross industry phenomenon and we expect new kinds of services to come out from this,? added Krishnan Chatterjee, global head of marketing for HCL Technologies.
In fact, the firm recently opened up a Co-Innovation Lab in Singapore along with global pharmaceutical major Eli Lilly for establishing a collaborative framework for incubating innovative ideas and concepts using cloud computing, automation, business analytics, and enterprise mobility, among others. According to research firm IDC, the global business analytics market is expected to grow at a compound annual growth rate (CAGR) of 7% over 2009-2014. Chatterjee explained that business analytics will follow the route taken by the infrastructure services division of the company which will soon touch $1 billion compared with $40-50 million it was 5-6 years ago.
?Infrastructure services grew organically completely and we see no reason why business analytics can’t take this path,? he added.
Incidentally, global IT firm IBM, which is traditionally known for its hardware and servers, too is focussing on business analytics and access management segments to strengthen its portfolio in the country.