Data is a commodity, what we need is insights at the speed of light, D Shivakumar said while speaking about the future of data analytics in India.
As India goes through a nationwide lockdown, most of the firms are running their operations with the help of their employees working from home. This has also made an irreversible development in using more virtual systems to operate. With virtual becoming mainstream, this crisis opens up great opportunities for Indian IT industry, D Shivakumar, Group Executive President – Corporate Strategy & Business, Aditya Birla Group, said in a discussion with Nasscom President Debjani Ghosh on ‘Leadership in crisis’. Data is a commodity, what we need is insights at the speed of light, he added while speaking about the future of data analytics in India.
He also predicted that after the current crisis due to coronavirus pandemic is over, important regulations will come into place across various countries. Now, the new normal will be WFH – tapping into the talent pool of Women From Home, digitised health services, online education boost, calm & collected leaders, and focus on culture and trust.
The continuous lockdown has mostly affected the medium and small enterprises that have a hand to mouth availability of resources. To the SME sector, Shivakumar has suggested saving cash, protecting and valuing their good people, and to stay in touch with their customers and ecosystem. He also said that as a leader, gratitude and connecting with people, are the most important things.
Meanwhile, the Indian information technology industry has positive prospects in the long term, however performance in the next year is expected to be low due to the widespread effects of Covid-19, said a report by Care Ratings. Despite a prolonged slowdown in the last fiscal, technology spendings across industries remained intact and due to strong deal wins and broad-based growth across verticals and geographies, the industry grew 7.7 per cent to USD 191 billion in FY20, as per NASSCOM estimates.