The process of examining large amounts of data to uncover hidden patterns and unknown correlations. This can provide competitive advantages over rival organisations.
From crafting strategies for cricket teams to helping scientists develop new drugs, Indian entrepreneurs are building specialised companies. These firms can chew through billions of bits of data, analyse them via self-learning algorithms and package the insights for immediate use.
“Big data is becoming hot, because people are using it to predict the future,” says Ravi Gururaj, vice-president for cloud platforms group at Citrix Systems. He said earlier it took at least `5 crore to start a data analytics firm. Now, with so many open source platforms available, an entrepreneur can launch a new venture with just `50 lakh. One such example is Gramener, which converts insights drawn through data analysis into visual graphics.
It was a reunion in Bangalore for six friends that led them to quit their jobs and start Gramener in 2010. “We decided to do something on our own and have fun,” says Naveen Gattu, 38, cofounder. In an innovative example of
how such technology can be used, Gramener helps poultry company Suguna Foods enhance the longevity for chickens. The firm finds disease patterns, suggests precautions and even makes recommendations about how much sunlight the birds must be exposed to the type of feed.
Gramener, which counts telecom firms, car-parts maker Bosch and many IT and engineering companies as its clients, now earns around Rs.1-2 crore per annum.
$48.3 billion by 2018
(Transparency Market Research)
Enterprises in Energy, Pharma, Retail, Telecom and government
How long to earn fi rst reveneus
1-2 years for product companies
Bizosys, Gramener,Qubole, Abiba Systems,Salorix, AbsolutData
Earlier one needed at least Rs.5 crore to start big data analytics firm. Now, with open source platforms, an entrepreneur can start with Rs.50 lakh
Vice-president, Citrix Systems