Business-Analytics-Software-IndustrySoftware Industry is changing rapidly. These changes are forcing IT companies to adapt new trends and also making them understand the need of business analytics skills to survive in longer run into the industry. I have tried to summarize the major shift or changes in IT industry now a days:

  1. Big Data

As the e-commerce business is growing rapidly, where loads of credible data is generated constantly, most of the organizations were using the SQLServer, oracle or any other software as DB to manage this data. But as the customers are increasing in numbers and the data generation per day is touching more than 10 folds in comparison with the earlier capacity, it is becoming difficult to get the required correct information in time. All the companies working in the same space now need to understand big data and data mining in detail and use the data analytics techniques more deeply to generate meaningful insights quickly.

  1. Product development

In recent times, IT industry has understood that project development is a onetime affair while product development is a sustainable concept that generates scalable profit in the long run. In this cut-throat environment it is a must to understand the end user's requirement, well in advance and produce the product at the right time to satisfy the market's demand before our immediate competition. As a part of survival, it is required from Software companies to do more analytical research of the business and be accurate in predictions related to future customer demands, thereby putting them ahead of the competition.

  1. Digital marketing

Digital marketing has changed the myths of traditional marketing. Through digital marketing we can get data like what is being viewed, how often and for how long, sales conversions, what content works and doesn’t work, etc. It is understood that a lot of analytics is required to be applied on this available data to decide on-page and off-page product marketing strategies. As a step ahead, every company is required to be on top of data analytics techniques to make sure the commercial and critical success of its products. 

  1. Cloud computing

Benefits of cloud computing SAAS, PAAS and DAAS have changed the market dynamics. Few organizations have already understood the benefits of it and early adopted available cloud base solutions. But as the customer database of the companies are expanding in size day by day, the initial objective of using cloud solution has changed from cost saving to speed and availability of products and data across the world. For companies it is required to use different methods of analysis of available and non-available data and pick the perfect solution for the organization which should be useful in the long run and be cost effective.

Author Bio: Amit Tayal is a PMP and PMI-ACP accredited professional, with 10 years of rich experience in the software industry coupled with keen business acumen. A prolific writer, Amit is particularly partial to articles and blog-posts that focus on the global markets from an expert viewpoint, and condense it to suit a Start-up or SME’s perspective. Currently located and working in Bangalore, Amit adds a new dimension to technological content writing and considers Business Directory and B2B Marketplace related concerns as his favourite topics.