Analytics is viewed as a fast growing field with various opportunities available for people. In simple terms, Analytics is the "the science of analysis". A practical definition would be - how an entity (i.e., business) arrives at an optimal or realistic decision based on existing data. Business managers may be able to take decisions based upon the past experiences or there might be other qualitative aspects to decision making. Without sufficient data, such a process would not be considered “analytical”.

The common applications of Analytics are numerous. These applications could be mentioned as “The study of business data using statistical analysis in order to discover and understand historical patterns with an eye to predicting and improving business performance in the future”. In other cases, it could be used to denote the use of mathematics in business. Some other fields within the area of analytics are enterprise decision management, marketing analytics, predictive science, strategy science, credit risk analysis and fraud analytics.

Today, the changing technology has given way to big scope of Analytics in India. At the forefront are Business Research, Market Research, Business Intelligence and Competitive Intelligence. The wide use of Analytics in the Banking & Financial Services, FMCGs, the Pharmaceutical Industry, which is provided in the form of KPO and BPO services in India, are also proving to be successful. With an increasing number of Fortune 500 and FTSE companies off shoring Analytics work to India and Indian businesses gaining global prominence, Analytics is proving to be a crucial part of the outsourcing success story in India.

In India, there are about 4000 statisticians graduating every year of which less than 6% are from premium Statistics-schools. The number of engineers with specialization in operations research are also very few in number. Estimates say that less than 7% of engineers take up career in Analytics after their graduation. With increasing opportunities to offshore Analytics to India, the demand for an Analytics talent pool is going to rise steeply in the next couple of years.

As India is positioning itself as a favorite off shoring destination in the world, rising salaries may call for fresh graduates\engineers from premium institutes to take up a career in Analytics. Analytics can be applied in various fields – Banking, Web Analytics, Medicine, Information Technology, Business, Science and others.

People can take up the role of a Junior Analyst role as they come out from premier undergraduate colleges. This role requires a person to work in teams, building expertise in the various analytical tools and techniques. The next available role is of an analyst, which can be a landing point for individuals from leading postgraduate institutes. In this role, exciting opportunities are available to work independently on projects, often traveling and being a part of the consulting team. As a senior analyst, an individual can lead projects demonstrating both content and people leadership skills.

Besides these, opportunities exist, to work on real business problems in order to generate distinct and lasting client impact. Further, depending on performance, they could also move on to the expert consulting track. There is an alternate career track that enables a person to manage and lead big teams within the Analytics group.

Average salaries for Analytics position range from $31,000-212,000, while experienced business analytics people get a salary of $18,000-22,000. People in Analytical jobs in other fields are also well-paid.

TWB is focusing on imparting training to the people in order to produce more expert analysts. Communication, teamwork, service excellence, and product knowledge enhancement are some of the key areas of focus for TWB.