An Exclusive Interview with Abhishek Rungta, Founder and CEO, INT
INT is leveraging big data analytics to provide web development, digital marketing, etc.
Big data analytics is offering huge scope to companies and individuals to unlock certain business potentials with different real-time data— structured, unstructured, and semi-structured. Big data is helping in multiple departments like web development, mobile development, understanding consumers, and many more. The global big data analytics market size is expected to hit US$684.12 billion in 2030 with a CAGR of 13.5%.
Here is an exclusive interview with Abhishek Rungta, Founder and CEO, INT, to enlighten the readers about how INT is leveraging big data analytics for web development to be a full-stack software product engineering company.
1. Kindly brief us about the company, its specialization, and the services that your company offers.
INT. (Indus Net Technologies) is a full-stack software product engineering company with a team of over 750 full-stack agile solutions experts who can help a business to experience a smooth digital transformation. It has been unlocking the business potential with technology and delivering a seamless user experience since 1997.
INT. offers web development, mobile development, digital marketing, dedicated hiring, analytics, and product design services.
2. How is your company helping customers deliver relevant business outcomes through the adoption of the company’s technology innovations?
Garbage in Garbage Out: Organizations have a huge volume of unstructured data which at times becomes difficult to process for insight building. INT. works extensively to structure this big data so that it can be consumed by the analytical tools for the generation of insights.
3. Kindly share your point of view on the current scenario of big data analytics and its future.
Big data analytics has brought a revolution in almost every industry across the globe. One might have heard of a trending proverb that ‘data is the new oil.’
Every business wants to implement the concept of ‘digital first’ as soon as possible. The usage of big data analytics by businesses is growing by the day as they want to understand customer behaviour insights, re-develop products and create new revenue streams.
According to a report by Analytics Insight, the global big data analytics market is expected to reach almost US$420.98 billion by 2027. So, more and more companies will utilize big data analytics, and data professionals will be in high demand in the coming years.
4. How is IoT/big data/AI/robotics evolving today in the industry as a whole? What are the most important trends that you see emerging across the globe?
AI has opened the way for smarter job execution with real-time analysis and more interaction between humans and machines. On the other hand, the Internet of Things (IoT) has enabled communication between devices and humans but without any human intervention.
The IoT combined with artificial intelligence (AI) has the potential to create intelligent robots capable of simulating smart behaviour and aiding decision-making with little or no human intervention.
While IoT collects vast volumes of data by connecting devices to the internet, AI aids in the assimilation and evaluation of this data. Machine learning (a subset of AI) in IoT devices uses highly powerful sensors to find trends and detect any errors in data collecting.
After collecting data, big data analytics can be used for a better understanding of customer behaviour and enhancing customer experience.
5. What in your view is the Future of IoT/ artificial intelligence/ML/cloud computing in India?
The future of artificial intelligence (AI) and machine learning is bright in India. Machine learning is a subset of artificial intelligence. According to an Accenture report, AI has the potential to add US$957 billion, or 15% of India’s current gross value by 2035. As per the ‘The AI Index 2021 Annual Report’, Karnataka had the most AI start-ups in 2019, with 356, followed by Maharashtra with 215 and both Andhra Pradesh and Telangana with 111.
In India, IoT (Internet of Things) has gained fame with the introduction of Amazon’s Alexa, Google Echo, smart locks, smart lighting, etc. A report has revealed that the Indian IoT market is expected to expand at a compound annual growth rate of 13.2% from 2020 to 2025. The top four areas of IoT funding are lifestyle/wearables, embedded computing, industrial internet, and connected homes.
Well, talking about the evolving trends will be incomplete without mentioning cloud computing! According to a NASSCOM report, until 2022, investments in cloud management, storage networks, security, and backup services are predicted to increase by 31% YoY. And India alone recorded nearly 379,000 job openings for cloud roles in 2020 and this demand is likely to increase with time.
6. What is your ‘Leadership Mantra’?
My leadership mantra is to be a leader whom people trust and give respect. I strongly believe that a leader’s true asset is people.
The team at INT operates as a family and doesn’t believe in hierarchy. Whenever I am in Kolkata, I don’t sit in a separate cabin at the office. I sit with different teams every day so that my co-workers don’t feel hesitant in approaching me. I try to know what motivates them. After all, a leader should know how to drive success and productivity.
7. What are some of the challenges faced by the industry today?
Here are a few major challenges that the big data analytics industry is facing today:
Lack of data science professionals: There is a massive shortage of professionals like data scientists, data analysts, and data engineers. Many companies are upskilling their existing eligible employees so that they gain knowledge about big data analytics.
Security of data: Securing data is often neglected by companies as they remain mostly busy with understanding, storing, and analysing their data sets. By doing so, companies can lose a substantial amount of money if they fail to protect their data.
Poor visualization: Valuable data can be overlooked when it is combined with irrelevant data. It can create a faulty interpretation of the information to the audience. This misconception can lead to erroneous insights and bad business decisions, all while claiming to be backed by data.
8. Can you throw light on the latest employment trends in the big data and analytics industry?
The pandemic has accelerated the need for the digital transformation of businesses. Eventually, many industries like banking, financial services, ed-tech, logistics, etc. are increasingly looking for talents in the big data analytics field to stay competitive in the post-pandemic world.
These industries are offering lucrative packages and perks to hire and retain data science professionals. The World Economic Forum predicts that data scientists and analysts will become the No. 1 emerging role in the world by 2022.
The number of job openings in big data analytics is touching new heights every day. So, I don’t see any immediate signs of plunging of the employment trends of the big data analytics industry. The US Bureau of Labour Statistics has reported that the rise of data science needs will create roughly 11.5 million job openings by 2026.