We’ve heard of BPOs and KPOs; we’ve even dwelled upon the promising MPO segment, but here’s something that could either be a part of the MPO function, and at the same time could very well be a standalone function. Analytics Process Outsourcing (APO) could be the next breakthrough concept in the business world. Big data analytics market is set for explosive growth in the coming years.
The growing business issues and the increase in dependence of data has give rise to this function. Moreover, business houses lacking analytical expertise wouldn’t mind coughing up a large amount of money, if the analysis would help them garner greater revenue. In fact, on the supply side, resources are dwindling that can manage the rising complexities in data, and that too with growing volumes, business houses are turning to APO providers to get the job done.
Business houses are starting to feel the need to get the analytical job done from the experts because studies show that business houses who diligently work around insights generated from analytics easily outperform those who fail to make good use of consumer insights by about 15-20%. This makes APO a highly critical activity. APO provides answers to questions like, how can you increase your time to market with considerably lesser TATs ; how do you analyse date when you have limited resources and what low cost options will give an edge over competition.
Today there are many firms who have opened their doors to provide APO services to the business world. And India being a huge resource base and comparatively a lower cost destination , there’s no doubt that the APO segment will do well in the country!