What is Data Analytics?
Data Analytics is the next big thing that is talked about in every newspaper that you come across today. The worldwide business analytics software market is expected to grow at a 9.7% compound annual growth rate (CAGR) through 2017, according to a new forecast from International Data Corporation. Demand for business analytics solutions will continue to be driven by the promise of better and faster decision-making and competitive advantage that results from the ability to analyse and act upon information in a timely manner.
Business Analytics is essentially a study of Meta data i.e. data about data. It uses data and past trends with logical combinations using effective amalgamations to come out with meaningful insights that could help companies predict the future course of their business. Today, business analytics is being used in every industry possible to segment and target the right crowd. In a few years to come, data analytics is set to become an integral part of marketing. Marketers will be expected to be well versed with data analytic tools to assist them in their business.
As the industry matures, Indian analytics service providers will move towards providing more complex services like model development, services based on proprietary IP, consultative offerings and expand offerings beyond traditional verticals. India was ranked 2nd (3.9 Million graduates in 2010) after China (6.3 Million graduates in 2010) in terms of total annual graduates. However, India will retain its attractiveness as the outsourcing destination due to its large talent pool with process expertise and knowledge of the English language.
Sports Nutrition in India
The Indian nutrition products market is mainly dominated by pharmaceuticals and FMCG companies with very few companies that only specialize in nutrition products market. Increasing health consciousness and improved incomes and standard of living has boosted the growth of the nutrition products markets in India, making it one of the fastest growing segments. The current market size for nutritional bars in India is approximately Rs. 50 crore and is expected to grow at 30 per cent annually.
This market research report includes the following:
Sports Nutrition
Protein Products
- Bars
- Powder
- RTD (Ready to Drink)
- Other Protein products
Non-Protein Products
Sports nutrition is expected to see a strong CAGR of 21% in the forecast period of 2012-2017. As sports nutrition only consisted of protein powder in 2012, the entry of products such as protein bars, RTD, other protein and non-protein products might take place over the next five years.
Sports nutrition was a very small category in 2012, and as consumers’ awareness of these products increases, along with a stronger push to widen the distribution channels, sports nutrition is likely to witness dynamic growth.
There are four key underlying drivers for this growth:
- Affluence of working population with changing lifestyles
- Reducing affordability of sick care, driving consumers towards wellness
- Increasing physician awareness and media penetration
- Increased accessibility due to emergence of newer distribution channels
Even though Health is a top priority in India, the mentality of an average Indian differs from that in the West. Consumers in India treat good health as a feat of not falling sick. The competition in India is very high especially in the age group of 20-29 which says that they shouldn’t fall sick. Traditionally most of the food consumption used to be at home with family. With change in society such as, nuclear family, rapid urbanization, and women’s participation in the work force changing the pattern of food consumption, the number of ‘out of home’ and ‘on the go’ consumption is increasing. This gives rise to single serve packaged food over traditional multi serve and family packs.
Automobile Industry
The Indian Automobile market can be divided into several segments viz. two-wheelers (motorcycles, geared and ungeared scooters and mopeds), three wheelers, commercial vehicles (light, medium and heavy), passenger cars, utility vehicles (UVs) and tractors. Demand is linked to economic growth and rise in income levels. Per capita penetration at around nine cars per thousand people is among the lowest in the world (including other developing economies like Pakistan in segments like cars).
The Automobile industry is undergoing transformation. Indian consumers prefer mileage of a car more than anything else. Price, mileage and space play an important role in the purchase of a car by an Indian consumer. Most weightage is also given for easy availability of spare parts in the market. Second hand vehicles have gained importance in the last few years with Punjab and Haryana leading the pack. Now, more cars are ending up for resale at a much faster pace which is why it is the right time to haggle for the best bargains.
Many giant players such as Hindustan Motors, Nissan, Renault and Fiat have their presence in the Indian automobile market. In such a tight market scenario, it will be interesting to see how the Indian automobile industry will survive as the Indian market does have good numbers but we can’t be sure which brand will drive them home in the upcoming years.