February 6, 2016 4:24 pm | Updated 4 years ago.
Allied Market Research in a recent report mentioned that the world data analyzes the outsourcing market to touch the $5.9 billion mark by 2020. The factor that is driving this growth is the mammoth increase in data generated by organizations which are being gradually outsourced. This is being done to lessen risk and administer better quality service to customers. Moreover, lack of skilled manpower is also bolstering the data analysis outsourcing market.
Data analytics affects miscellaneous sectors like sales, marketing risk, and financial analytics. India, China, and the Philippines have become the hub of the data analytics outsourcing market in the Asia-Pacific region. The major organizations include Tata Consultancy Services Ltd, Wipro Ltd, Mu Sigma Inc to name a few. The major request for data analytics outsourcing materializes from North America and Western Europe. A Huge amount of unstructured data is generated due to an increase in the usage of mobile devices, easy availability of dependable and economical data storage solutions and influence of social media are augmenting this growth.
Date of Publication: February 2, 2016