Outsourcing Big Data Analytics to India: What works?
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.
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.
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.
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.
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
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.
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...
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