'Most of the companies will focus on deepening analytics on structured data'

 

On cloud computing adoption...In my view, cloud computing is the #1 strategic technology that can be best leveraged in the BFSI domain. Although there is a significant adoption, it has mostly been limited to tactical, noncore applications and infrastructure in private clouds. I have seen a number of surveys that showcase almost one third of the IT budget is now spent on cloud computing. We have also noted that 95% of internal IT landscape is currently on private cloud whereas public cloud adoption is slow and mainly focused on noncore applications.

The key drivers for implementation of cloud computing in today's scenario are -

• Competitive business environments that demand flexibility, elasticity, and scalability in IT expansion
• Economizing of capital expenditures, leading to opt for new generation business models such as pay-per-use, pay-per-profit, etc. 
• Workforce increasingly becoming mobile, with need to access applications from smartphones, tablets. 
• Need for shorter time-to-market period for new products and technology innovations.

Going forward companies will move applications like email/messaging; collaboration/conferencing; data storage; customer relationship management; and human resources to the cloud within the next 3 years. The strongest private cloud implementations will involve IT infrastructure management; security management; financials; and supply chain management which will eventually lead to significant cost savings, flexible infrastructure, quicker time to market and higher satisfaction.

With respect to cloud computing we have identified certain industry trends -

• Public cloud models will emerge, which will eventually lead to migration of some core systems to public cloud in a phased manner 
• Desktop/end point virtualization will gain momentum with consumerization of IT
• Private cloud solutions will become more on demand and easy to use 
• Hybrid models will emerge which will have better chance of sustenance
• More cloud computing platforms and API's will become accessible on portable devices like mobile

Skillset...According to a study conducted by IDC, in the current industry scenario cloud computing has the potential to generate close to 14 mn new jobs across the globe within the next 3 years. Additionally, we believe that there will be a confluence of technological and economic factors that will propel both job as well as cloud growth. Keeping all these considerations in mind, the industry is poised for a strong job growth which will be further driven by attractive business opportunity and growth potential.

Betting on big data...Most of the companies will focus on deepening analytics on structured data. Big data will be used for sentiment analysis from a social media point of view in the next 2-3 years. We will also see industry specific solutions emerge that will be more applicable in nature.