How Data Visualization is Transforming the ITeS & BPO Sectors
One of the most important industry sectors in Indian economy today is the IT-enabled services (ITeS) and Business Process Outsourcing (BPO) sector. This sector’s contribution to the country’s gross domestic product increased from 1.2 per cent in 1998 to 8 per cent in 2013. Further, at the end of 2013, the IT services and business process outsourcing (BPO) segment was estimated to have provided direct employment to about 3 million people and indirect employment to about 9.5 million.
For some time in the past, this industry sector has begun leveraging the benefits of Data Visualization as an effective tool to help businesses make better decisions and lower costs.
According to industry estimates, high performing BPOs are using Data Visualization technologies and solutions as a source of innovation and advantage rather than just facilitating infrastructure delivery. Further, the deployment of these solutions enables cost reductions and more efficient operations by streamlining the systems environment within BPOs.
Almost all the companies are now banking on response management systems to help address customer concerns in real time. Some experts forecast that about 50 per cent of contact centers will employ social media as a mainstream communication channel within a couple of years. The adoption of cloud computing is also increasing at a greater pace in the ITeS and the BPO sectors. The cloud computing platform allows these companies to deliver their services through flexible, cost-effective, subscription-based packages. Cloud computing has paved the way for BPOs and ITeS companies to deliver services to a large number of small- and medium-sized enterprises that lack extensive infrastructure.
All these activities mark heavy surge in overall data volume within these enterprises, and Data Visualization steps in there to allow them make more sense out of this huge collection of data.
Since IT, BPO and ITeS companies have to handle a significant volume of data and analyse this to help clients take informed decisions, these players are making significant investments in establishing their own Data Visualization and Analytics infrastructure. Most of the data handled by employees in this segment is in unstructured, raw forms. Processing large volumes of data using traditional data processing applications is becoming increasingly difficult for companies. However, Data Visualization tools enable companies to structure and analyse data and pass it on to their clients to help them make informed decisions in a visual manner.
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