India, according to the 2011 census remains the second most populous country in the world with over 1.2 billion people and consequently, has the potential of being the most populous country in the next ten (10) years. In the last decade, the analytics landscape in India has significantly changed. For instance, strong championing of major proficiencies, like risk analytics, market research and customer analytics, by some firms, which led to the development of the preliminary talent pool; development of training syllabus that resulted into enhancing competency in tools, such as SPSS, SAS and other statistical modeling techniques.
India’s analytics journey started in the late 1990s when some large international companies from the information technology (IT) and financial services domains were looking to establish and scale their internal analytics centers. India, with its loaded pool of talents turns out to be the test bed for some preliminary launching. Firms such as Hewlett Packard (HP) discovered the chance to consolidate different analytics efforts across the organization. And today, various domestic analytics shops in addition to third party analytics service providers have gain considerable skill to set out these solutions on a global scale. The analytics industry in India also has developed efficient solutions that cut across risk management, supply chain, marketing, sales, and are also personalized to suit the needs of various industries.
Furthermore, India has made a significant growth in form processing services on local standards, while expanding her work on a large global scale. The outsourcing service, whether it is offshore or global, has contributed a significant amount of revenue to the India’s economy. This feat is a direct and parallel result of highly qualified people’s work and dedication in form processing services such as payroll processing, health claims forms, insurance claim processing and survey forms among others. Without doubt, the insurance sector is considered to be an important sector of every country globally. Not only is it very complicated to handle with local data, but it also demands a lot of details to be fully processed in the shortest possible time. However, India has managed to excel in this sector even on a global scale, while dealing with a large number of insurance claims for international clients. In addition, each of the companies offers a certain number of advantages that is quite special and uniquely distinguished from every other. However, virtually all of them agree to maximize the insurance claim processing flow with relatively decreased costs attached, while making use of highly qualified teams.
Similarly, making a survey has been discovered to be high in demand since it remains the most effective way to get a feedback about any product/service within a company. It is a form processing that is not limited to a specific area, but can be launched globally with the Internet being the connecting bridge between India and the rest of the world. This form is specialized in analyzing company’s business processes, in order to come up with the suitable survey questionnaires. This will, in the long run enable the company to take proper measures that would lead to her annual growth revenue.
Form processing, whether insurance, survey or any other form does not make such sense until it has been analyzed. The emergence of global analytics centers of excellence in India make India stand as a form processing global hub. The services sector accounts for a significant share of India’s Gross Domestic Product (GDP), which has been growing at a rate of 7.45% from the year 2000 to 2011. By 2020, it is anticipated that about 136 million of today’s Indian youth will join the international workforce. In view of this, it has been observed that over the last 15 to 20 years, India has concentrated on enhancing its education system paying more attention to higher education and scientific research.