Outsourcing is not new to India. A large portion of companies from the Western world has, for quite a long time, preferred to outsource its non-essential processes to third-party firms in India and other Asian countries to save time and money, while concentrating on their core processes more efficiently.

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However, the kind of processes being outsourced to India has seen a sea-change.

 

It is no longer about cost-efficiency and cheap labor. It is about efficiency in doing smart business by utilizing able hands that can be found in ample numbers only in a country like India.

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An increasing number of processes that are now being outsourced include big data and analytics, mobility, artificial intelligence, machine learning, internet-of-things (IoT), block-chain, and robotics – opening up new avenues for doing business differently.

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But such processes are fundamentally different from those of BPOs/KPOs or the traditional IT industries. The requirements of these new age technologies are very different from their traditional counterparts. What traditionally worked in BPOs/ KPOs or in the IT industry wouldn’t quite work for these new areas of business.

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With that in mind, let’s take a look at the different ways in which big data analytics is outsourced in India.

 

Engagement Models for Outsourcing by Big Data Companies

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1. Project-Based or Fixed Price Model

Specially meant for small and medium business enterprises, this model works on fixed deadlines,

fixed deliverables and fixed pricing – all of which are finalized before taking on the project.

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2. Competency-based Staff Augmentation or Time-& Resource-Bound Model

In this model, the focus is on providing the client with data analytics capabilities for a well-

defined period on a per-hour and per-lead price-basis...

 

Last Word

With the advent of artificial intelligence, most industries are forced to integrate these functions into their business to keep up with the changing times and building competition...