Top 7 Business Analytics Companies in India
Business Analytics helps in business growth and get success in many ways. Often confused with or reduced to Data Analytics, Business Analytics is bigger than Data Analytics. Data Analytics enables businesses to analyze and interpret data to make informed strategic decisions using statistical modeling and other mathematical methods. Business analytics, on the other side, also encompasses marketing research, performance management, strategy development, and many other activities related to business management.
Data Analytics, therefore, can be regarded as a subset of Business Analytics, and businesses should use data-driven business analytics for holistic business development. This article explores the career prospects in Business Analytics, highlights some of the leading Business Analytics Companies in India, and offers guidance to pursue a career in Business Analytics.
Businesses across the globe have started to appreciate that Business Analytics is an indispensable component for business success. Some of the ways through which Business Analytics are as follows:
· Businesses can make informed decisions by capturing, analyzing, and interpreting business data using Data Analytics tools and techniques. They could also predict their business risks more accurately and formulate better risk mitigation strategies when they gain a deeper understanding of their business patterns.
· With Business Analytics, companies can review their operations using fool-proof scientific data, identify process gaps, and implement necessary controls. In so doing, they improve their business efficiency and reduce operating costs significantly.
· By understanding customer behavior, market trends, and competitor activities, businesses could gain a competitive edge against their competitors, thereby developing strategies for better positioning.
· Last but not least, Business Analytics helps companies understand their customers’ changing needs and preferences to assist them with customer retention and customer building.
Career Scope in Business Analytics
As the world has become increasingly dependent on data, businesses have begun to agree that data analytics and business analytics will revolutionize how they do their business. As a result, businesses are more willing than ever to partner with Business Analytics companies. Consequently, Business Analytics talent is also in high demand.
In India, business analysts are in increasingly high demand in the financial services, healthcare, retail, and e-commerce industries. Business Analytics Companies in India want professionals with strong analytical and problem-solving skills and a solid grasp of statistics and data visualization to interpret their business data.
They also expect them to possess good communication skills to present insights and inferences in a consumable manner to various stakeholders in their organization. Also, data-driven business operations are not a temporary trend. Quite the contrary, they will be the way of business going forward.
Hence, business analysts have excellent job prospects plus career advancement opportunities as data-driven decision-making continues to evolve more prevalent across industries.
Leading Business Analytics Companies in India
In India, the business analytics market is growing faster than ever. According to Analytics India Magazine, the analytics industry reached a market value of USD 61.1 billion in 2022, growing at an annual rate of 34.5%. This is forecasted to increase to $201.0 billion in 2027 at a CAGR of 26.9%. In light of this, we have listed some of the best business analytics companies in India in this section.
1. Mu Sigma:
Mu Sigma is a pure-play company in the field of Business Analytics and Data Science with its Indian headquarters in Bangalore. Founded in Chicago, USA, Mu Sigma correlates its ecosystem to a Chicago-style deep dish pizza, Chicago being the place where that particular variation of pizza was founded.
And, they say their cross-industry client base, decision scientists, process and methods, tools, and problem-solving platform form various layers of the pizza and they are best consumed as the full slice with all the layers. In a nutshell, Mu Sigma offers holistic business analytics solutions.
Business Model:
Mu Sigma follows various business models and approaches to analytics. They call their culture as “Art of Problem Solving” where creativity, collaboration, and innovation are put together to customize services and solutions for their clients from data engineering to decision science consulting.
Clients:
Mu Sigma partners with more than 140 Fortune 500 Companies across a wide range of industries, such as technology, finance, healthcare, and retail. They are the preferred analytics partner for many top companies such as Microsoft, Walmart, and Dell. Mu Sigma takes huge pride in having been chosen by venture capitalists who fund corporate giants like Google and Facebook, for investments in the analytics space.
Employee Strength:
According to LinkedIn, the company has around 10,000 employees worldwide and around 4,000 employees in India.
Founded in:
2004
Office Locations in India:
Bangalore (HQ), Chennai, Delhi, and Mumbai
Office Locations – Overseas:
US, Canada, UK, Philippines, and Israel
2. Fractal Analytics
Fractal Analytics is one of the leading AI-driven Business Analytics Companies in India. Fractal Analytics aspires to reshape businesses through science and advanced data tools to foster uncomplicated decision-making so that human intelligence can be freed from the toil of monotonous work. They feel that human intelligence could be used better to pursue imagination and creative rewards instead.
Business Model:
Fractal Analytics provides advanced AI-driven analytics and customized business solutions to clients from different industries. They have a proprietary analytics platform called Concordia which allows companies to integrate their data, tools, and data analytics all in one place.
Clients:
Retail, healthcare, and financial companies are Fractal Analytics’ primary clients. Fractal Analytics is one of the most sought-after Business Analytics solution providers for many Fortune 500 companies in India. Some of its top clients include companies such as Unilever, P&G, and Citibank.
Employee Strength:
According to LinkedIn, the company has over 5000 employees worldwide and around 2,000 employees in India.
Founded in:
2000
Office Locations in India:
Mumbai (HQ), Bangalore, Chennai, Delhi, and Pune
Office Locations – Overseas:
US, UK, Singapore, and the UAE
3. Tredence
Tredence is another big player in the field of Business Analytics and Data Science. Headquartered in San Jose, California, Tredence provides advanced analytics, data science, and data engineering services to help clients drive business growth and improve operations.
Tredence has been recognized for its innovative solutions and services by several industry organizations. It was named a ‘Leader’ in Gartner’s Magic Quadrant for Data and Analytics Service Providers in 2021.
Business Model:
Tredence strongly believes that data science is not a sprint but it is a marathon. And so, it helps their clients to re-think their limitations and keep pushing themselves for sustainable business impact creation.
In addition to its analytics services, Tredence has developed several proprietary analytics platforms, including an AI-powered data discovery and insights platform called ‘Tredence Studio’ and a machine learning-driven platform for supply chain optimization called ‘Tredence Supply Chain Navigator’.
Clients:
Tredence works with clients across a range of industries, such as retail, consumer goods, healthcare, and financial services. The company has worked with big brands such as Coca-Cola, Walmart, Unilever, Levi Strauss & Co, PayPal, and many others.
The company has a customer-centric approach to analytics, working closely with clients to understand their business challenges and develop customized solutions that meet their unique needs.
Employee Strength:
Tredence has 5000 plus employees worldwide and over 1,600 employees in India.
Founded in:
2011
Office Locations in India:
Bangalore, Chennai, and Mumbai
Office Locations – Overseas:
US, UK, and Singapore
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4. LatentView Analytics
LatentView Analytics is one the prominent pure-play Business Analytics Companies in India with more than 16+ years of industry experience in the field of Data and Business Analytics. The company was founded in 2006 by a group of former business and technology leaders from McKinsey, Intel, and the Indian Institute of Technology, Madras.
Business Model:
LatentView Analytics has a customer-centric approach, working closely with clients to help them leverage data and analytics to make data-driven decisions and drive business growth. The company has a strong focus on innovation and research, with a dedicated R&D team.
Clients:
LatentView Analytics serves clients across a range of industries, including retail, CPG, healthcare, financial services, and technology. Some of their notable clients include Microsoft, Nestle, Hilton, Unilever, Pfizer, and Coca-Cola.
Employee Strength:
LatentView Analytics has over 800 employees with the majority of them in India.
Founded in:
2006
Office Locations in India:
Chennai and Bangalore
Office Locations – Overseas:
US and Singapore
5. Tiger Analytics
Tiger Analytics is a global consulting and analytics company. A group of industry veterans with extensive experience in analytics, technology, and consulting founded Tiger Analytics in 2011 to provide data analytics solutions to businesses in various industries, including retail, e-commerce, healthcare, and finance.
Business Model:
Tiger Analytics provides its clients with marketing analytics services, customer analytics services, risk analytics services, operational excellence services, and planning services. The company’s business model emphasizes establishing long-term relationships with clients and providing ongoing support to ensure their analytics initiatives are successful.
Clients:
Tiger Analytics has clients in the retail, healthcare, telecommunications, manufacturing, and financial sectors. Among their notable clients are Amazon, Google, Uber, Intel, Kimberly-Clark, and many others. Their clientele is globally based, with a strong presence in North America, Europe, and Asia-Pacific.
Employee Strength:
Tiger Analytics has 5000 plus employees worldwide and over 1000 employees in India.
Founded in:
2011
Office Locations in India:
Chennai and Bangalore
Office Locations – Overseas:
US and Singapore
6. Algonomy
The Algonomy company was born out of Manthan, a homegrown Business Analytics company in India, partnering with RichRelevance, an industry leader in personalization solutions. Algonomy, in its simplest form, refers to “systemized knowledge of and expertise within algorithms ”. The company offers its clients AI-driven Digital Transformation services and is one of the most sought-after Business Analytics companies in India.
Business Model:
Algonomy’s business model is based on a software-as-a-service (SaaS) model, where clients pay a monthly or annual subscription fee to access the platform and its various tools and features. The company also provides professional services such as implementation, consulting, and training to help clients maximize the value of their investment in the platform.
Clients:
Algonomy’s clients include a range of companies in industries such as retail, consumer goods, manufacturing, and healthcare. Some of their clients include Walmart, L’Oreal, Samsung, Nestle, and Michelin.
Employee Strength:
Algonomy has more than 1000 employees.
Founded in:
2004
Office Locations in India:
Bangalore and Mumbai
Office Locations – Overseas:
US, UK, Germany, Canada, Australia, and Singapore.
7. Absolutdata
Absolutdata describes itself as an infogain company that uses AI and machine learning, along with business knowledge and technology, to provide its clients with business solutions. In addition to optimizing its clients’ operations, Absolutdata also reduces its costs and improves its overall performance through its data analytics and research. It is an ISO 27001:2013 certified institution.
Business Model:
The Absolutdata business model focuses on providing personalized data-driven solutions to clients that enable them to achieve their business goals. It offers a suite of pre-built AI solutions through its proprietary AI platform, the NAVIK AI Platform, which can also be licensed and customized based on client needs.
Clients:
Absolutdata serves clients from all industries, including retail, consumer goods, healthcare, financial services, technology, and media. American Express, Adobe, Honda, Microsoft, Nestle, P&G, and Unilever are some of its premium clients.
Employee Strength:
Absolutdata has more than 700 employees worldwide.
Founded in:
2013
Office Locations in India:
Gurugram, Bengaluru, and Pune
Office Locations – Overseas:
US, UK, Singapore, and Dubai
Check here the best business analytics courses:
- Business Analytics Courses in Pune
- Business Analytics Courses in Bangalore
- Business Analytics Courses in Chennai
Job Roles, Responsibilities, and Salary in Business Analytics
Business Analytics is a rewarding career path in India, with numerous job roles available. Some of the major ones are as below. Please check the links provided for a piece of comprehensive knowledge of the different job roles available in the field of Business Analytics.
Business Analyst:
Business Analysts are the ones who analyze data and provide insights for companies to make informed decisions. Business Analysts typically work on projects such as Customer Satisfaction Assessments, Sales Forecasting, Marketing Performance Analysis, and others. The average salary range for a Business Analyst in India ranges between Rs. 4 lakhs and Rs. 12 lakhs per annum.
Data Analyst:
Businesses rely on Data Analysts to analyze data and present inferences and insights to make informed decisions. Data Analysts are employed to analyze Customer Behaviour, Product Performance, Operational Efficiency, and Financial Forecasting, among other things. Business Analytics Companies in India compensate Data Analysts between Rs. 3 lakhs and Rs. 9 lakhs per annum.
Data Scientist:
A Data Scientist analyses complex data sets; builds predictive models and forecasts patterns that can assist businesses in making better business decisions. They may work on fraud detection, risk assessment, or supply chain optimization projects. The average salary range for a data scientist in India is between Rs. 6 lakhs to Rs. 18 lakhs per annum.
Data Engineer:
Data engineers design, build and maintain the infrastructure that supports data analytics projects. Their work could involve data warehousing, ETL (extract, transform, load) processes, or database administration. Business Analytics Companies in India compensate the Data Engineer between Rs. 6 lakhs and Rs. 16 lakhs per annum.
Please note that the salary ranges mentioned above are indicative and can vary depending on the company size, location, and various other factors. Similarly, educational qualifications, professional certifications, affiliations, and overall and relevant experience, in addition to the performance of candidates in the interviews will drive the salary negotiations with the companies.
FAQs
1. What skills are required for a career in business analytics?
A combination of analytical, technical, and business skills is required to work in the field of business analytics. In addition to these listed skills, the candidate should possess the necessary employability skills and soft skills. Some of the must-have skills required to work in the leading Business Analytics Companies in India include:
- Analytical skills: Identifying patterns, identifying trends, and drawing insights through data analysis are crucial to business analytics careers.
- Statistical and mathematical skills: A good understanding of statistical concepts and data modeling is crucial for analyzing data and developing insights.
- Data visualization skills: This skill is essential for communicating data insights, interpretations, and inferences to stakeholders using charts, graphs, and other visualization tools.
- Programming skills: Proficiency in programming languages such as SQL, Python, R, and SAS is essential for data processing, cleaning, and analysis.
- Business Knowledge: Having a clear understanding of business concepts, processes, and strategies is crucial for connecting data insights to business outcomes.
- Problem-solving skills: The capacity to solve problems and exhibit a constant desire to learn and improve is a must-have skill in a field like Business Analytics that is rapidly evolving.
- Communication and collaboration skills: Working collaboratively with cross-functional teams and communicating observations and recommendations effectively to stakeholders are crucial to business analytics success.
2. What are the job prospects for business analytics professionals in India?
In India, Business Analytics is one of the hottest job markets due to the growing popularity of data-driven business operations and strategic building. Therefore, Business Analytics professionals have good job prospects in India. Multiple industries such as e-commerce, banking, finance, healthcare, retail, etc look for professionals with BA skills. Apart from these, there are pure-play Business Analytics Companies in India where there exist plenty of opportunities for people with Business or Data Analytics skillsets. Industry reports forecast that the trend is going to continue as well as is going to see a rapid increase in the coming years.
As quoted at the beginning of this article, AIM predicts that India’s analytics and data science industry will grow by 30% by 2025. This growth is expected to create new jobs and increase the demand for business analytics professionals. In addition, companies are pushed to up-skill and re-skill their existing workforces owing to the current business demands and trends. From what it looks, business analytics professionals have a lot of opportunities in India.
3. What are the prerequisites for a business analytics course?
A business analytics course may require different prerequisites depending on the institution that conducts the course. Nevertheless, most institutions may demand these prerequisites.
- Bachelor’s degree in computer science, mathematics, statistics, economics, engineering, or business
- Knowledge and experience in programming languages like DQL, Python, R, and SAS as well as advanced MS Excel skills
- Good understanding of statistics and mathematics to do data analysis, modeling, and visualization
- Prior experience with data analysis tools and techniques, such as data mining, regression analysis, and machine learning
4. Are there business analytics courses available in India?
Most of the Business Management Colleges and Universities in India have one or more business analytics courses to offer at the Undergraduate and Postgraduate levels. This includes many Private as well as Government run colleges. The most popular ones are the courses conducted by the Indian Institute of Management.
The aspirants have different options for learning such as Residential, Full Time, Part-time, Online, and Blended learning. Aspirants could choose one of these courses that suits their preferences and needs. Also, there exists a multitude of online short-term certificate courses with guaranteed placement options where one could learn or strengthen their Business Analytics skills as well as get placed in jobs.
5. What are the career growth opportunities in business analytics companies in India?
Since data-driven business operations have become a business culture for many organizations, more and more companies will not begin to consider BA for their business success. As a result, data and business analytics professionals will be in high demand for a long time. Career growth opportunities in business analytics companies in India are also equally good, as professionals can progress from entry-level jobs to senior positions as data scientists and chief analytics officers.
Conclusion
The number of Business Analytics Companies in India will continue to increase and all businesses will continue to rely on Business Analytics as their strong pillar support for their business development and success. Hence, planning a career in Business Analytics is going to be rewarding not just in the short run but for a longer period.
