India: India’s biggest companies are moving away from big data and into real-time analytics
India’s largest companies are making big strides towards real-timing their data analytics, with the country’s top 20 companies using technology to track sales, increase sales efficiency and drive more revenue, as per the latest survey of the industry.
The survey by market research firm IDC and the countrys top tech companies, including Flipkart, Snapdeal, GoPay, Uber and Ola, is the second of the year and includes the data of nearly 100,000 online consumers across 24 sectors, including commerce, IT, media, retail, healthcare and more.
The results, obtained by Business Line, show that online commerce is the biggest sector for which India’s top companies are now making use of the new tools.
Flipkard is the top company in the online retail sector, which has seen its revenues rise from Rs 3,000 crore in 2016 to Rs 4,000 crores in 2017.
While the total revenues of Snapdeal rose from Rs 5,000crores in 2016, it grew from Rs 2,500crores to Rs 3.8 lakhcrores during the past year.
Snapdeal also saw a 30 per cent increase in revenue during 2017.
The top 20 Indian online companies using the data include Flipkarn, Snap, Ola and Omidyar Network.
The data also shows that online shopping has become the number one source of revenue for most of the companies in the top 20, with Flipkashart and Snapdeal taking the two biggest leads with Rs 1,000 and Rs 1 lakh, respectively.
The top 20 online shopping companies in India have a total revenue of Rs 4.1 lakhcrore, and revenues are growing by 30 per per cent and 30 per percent respectively in the past six months.
Flipkyard was the number two online retail player in India, with revenues growing from Rs 1.6 lakh crore to Rs 2.8 crore in the last six months, and Olowyar had a 33 per cent jump in revenues during the same period.
GoPay, meanwhile, is growing at the fastest rate in India with revenues rising by 40 per cent in the year to date, and the company is the number four player in the country with revenues increasing by over 40 per% in the same time period.
The company is also the biggest player in IT, with revenue growing by 33 per, and is now the number five player in health care, with a 36 per cent growth.
Uber, meanwhile saw its revenues increase by 27 per cent during the last year, while Ola’s revenues grew by 40 percent.
The Top 20 online retailers in India include Snapdeal (Rs 3,800 crore), Flipkall (Rs 1,900 crore), Snapdeal Paytm (Rs 800 crore), Ola (Rs 750 crore) and Omo (Rs 500 crore).
The top 10 online retailers globally are Amazon (Rs 9,300 crore), eBay (Rs 8,200 crore), Facebook (Rs 6,500 crore), Twitter (Rs 5,300 per share) and Pinterest (Rs 4,600 per share).