Data, an invaluable and infinite resource, is revolutionising the way industries, businesses and Governments are making decisions, unlocking new value and innovations, and providing enterprises the single biggest opportunity to serve their customers better.
Fuelled by heightened digitalization, India is witnessing an explosive growth in data. Further, an evolving business ecosystem and digital push by the Government through its Digital India initiative is enabling India to fast become one of the biggest Big Data Analytics markets in the world. According to Analytics India Magazine (AIM), the analytics industry in India is estimated to reach $118.7 billion by 20261.
The proliferation of big data ecosystem in India is opening up unprecedented opportunities for all to scale rapidly in this competitive digital age and enhance customer satisfaction.
India’s Data Revolution
Growing Internet Users
624 Mn- January 20212
Increasing Internet Penetration
45%- January 20212
Growing Social Media Users
448 Mn- January 20212
Cheap Mobile Data
Rs 6.7 ($0.09) per gigabyte (GB), one of the lowest in the world3
High Smartphone Penetration
500 Mn users- December 20194
Data Analytics Industry
$45.4 Bn in FY 20211
$118.7 billion by 2026 1
IT Sector- 43%1
Fuelling Data-Led Transformation of Businesses & Industries
Proving to be an invaluable asset in understanding customers better, businesses across industry verticals are digitally reinventing to become “Data First” and “AI First”.
The IT sector has been the biggest adopter of data analytics leveraging it to explore new product ideas and newer markets, drive business growth, and spearhead innovation for competitive advantage.
As India’s digital economy grows from strength to strength with increasing number of citizens turning to digital transactions, the Banking, Financial Services and Insurance (BFSI) industry is cashing in on data analytics to extract insights from the large volume of data being generated daily and deliver personalised services to the customer.
Meanwhile, healthcare professionals are utilizing data from Electronic Health Records and data from patient’s wearable health devices to provide improved patient care, detect early warning signs and prevent the onset of illnesses. Data Analytics is revolutionising the education sector too, empowering educators to monitor their students’ performance, evolve new pedagogies and personalised curriculum to enhance the student’s learning experience.
Power of Big Data Analytics in India
- Early detection & treatment of illnesses
- Predict disease outbreaks through Predictive Analytics
- Develop personalized treatment plans
- Predictive models for drug discovery
- Improve patient care
- Increase profitability
- Cost-effective customer acquisition
- Identify monetization avenues
- Fraud Detection
- Predict mortgage default risk
- Seamless services to customers
- Improve institutional governance
- Real-time performance assessment
- Predict student's future performance/career
- Craft better study curriculum
- Create adaptive learning models
- Offer personalized tuition for weak areas
- Ensure best quality
- Increase production yield & throughput
- Reduce operating costs
- Optimize supply chains
- Predictive maintenance of assets
- Produce customized products
- Improve crop management
- Increase farm yield & productivity
- Introduce crop insurance schemes
- Access to agri-lending services and loans from banks
- Improve agricultural supply chain management
Energy & Utilities
- Predict & prevent power outages
- Smart load management
- Preventive asset management
- Optimize energy efficiency
- Reduce operational costs
Strengthening Digital India, e-Governance for Citizen Empowerment
Recognising the value of data as a national resource, the Government of India is harnessing the same to build analytical frameworks and expand its e-Governance initiatives across the length and breadth of the country. Increasing smartphone penetration and data consumption, even in India’s hinterland, is enabling the Government to formulate evidence-based policies, better target welfare schemes for the undeserved population, and digitally empower citizens with data-driven inputs.
As a testimony to this, the Government has opted for geotagging the entire agriculture sector - the mainstay of India's economy and the major livelihood of millions – to make it more secure and profitable. Its powerful program, Forecasting of Agriculture outputs through Satellite, Agro-meteorology and Land-based observations (FASAL), utilises remote sensing and data analysis to enable farmers to predict the yield of major crops and thus increase their income for a better life.
Earlier in 2017, the Government leveraged big data analytics to launch an ambitious project called “Project Insights” which helped track down tax evaders and flag accounts with sizable black money deposits. Introduction of Goods & Services Tax (GST), one of the biggest reforms in the country's tax structure in decades, is also a shining example of data-driven policy.
Championing the democratic access to all public Government data through a one-stop platform, NITI Aayog’s flagship initiative “National Data and Analytics Platform” (NADP) will pave the way for India’s data stewardship. Catalysing this further, the Government's push for data localisation and the proposed national regulator, the Non-Personal Data Authority (NPDA), with a mission to "generate economic, social and public value through processing and use of data" will greatly strengthen India's data protection ecosystem.
Unlocking the Value of Data Through Robust Digital Platform
As India moves ahead on its Digital India and Smart Cities mission, it is likely to face the key challenge of pooling the voluminous data being collected from millions of IoT devices & smartphones and gleaning actionable insights from the same. Many State Governments are looking towards a powerful data analytics platform that can be used by all the Government departments to collate data, get real-time insights, and introduce policies that bridge the socio-economic disparities.
Hitachi is effectively meeting this need of enterprises and Government since 2016 through its own digital platform called “Lumada” that connects data, assets and people to unlock new value and growth opportunities. Integrating advanced Analytics, Artificial Intelligence and Machine Learning into solution cores, Lumada is a proven service meeting India’s ever growing data analysis needs.
By collating diverse data sets at a lower infrastructure cost and delivering actionable insights in real time, Hitachi is helping organisations accelerate their digital transformation journey and the Government to introduce vibrant, data-driven “services on demand” that empower citizens at the grassroots level, thus contributing to the success of e-Governance and Digital India mission.
Lumada: An Intelligent, Scalable Platform
Digital innovation platform
Lumada: An Intelligent, Scalable Platform
Elements - Six Elements of the Architecture
Analyzing data by using AI and analytics technology
Collecting and processing data
Relaying device data to IoT systems
Establishing a data lake and accumulating data
Providing infrastructure for IoT systems, including servers, network devices, etc.
Moving Towards a Data-Rich Future
Data is a powerful asset and its intelligent mining opens up limitless possibilities for innovation. On its path to build a robust Digital India, the Government aspires to make the nation “a big centre of data analytics, data cleaning and data anonymization5” and lay a solid foundation for good governance.
Leveraging its proven OT x IT expertise and powerful data analytics capabilities, Hitachi is actively collaborating with the Government to expand data-driven governance to the remotest corners of the country, digitally transform India’s core sectors, and uplift the disempowered sections of the society for a better Quality of Life.