June 20, 2017 – Bangalore-headquartered executive search firm Rinalytics Advisors has appointed search veteran John Irudayaraj as managing partner. In his new role, Mr. Irudayaraj will both head the firm and steer it towards the next level of growth in analytics leadership hiring across global markets.
Mr. Irudayaraj, an executive search veteran, has over two decades of market experience serving clients in leadership hiring across the industry sectors. In his previous assignment with TRANSEARCH as senior partner, he was instrumental in building automotive and manufacturing practice besides managing South India operations. Earlier in his career, he was with ABC Consultants as leader in the firm, based out of Delhi. Prior to executive search, in the early part of his career, John worked in the industrial engineering functions with companies like Timex Watches and Minda Group.
Rinalytics Advisors is a specialized retained talent search firm focused exclusively in analytics, big data, data science and risk management talent hiring cutting across industry sectors. The firm is founded and led by Narasimhalu Senthil, who is a seasoned executive search professional with close to a decade of search experience. He helps his clients, both small and large, build high performing analytics and risk management leadership talent. Prior to starting Rinalytics, Mr. Senthil worked for TRANSEARCH, PMAM Corporation and ABC Consultants in India and U.K.
Analytics Space Growing
Now is an opportune time for recruiting firms to expand into the analytics space. Organizations of all kinds, from sports teams to Wall Street stock traders, have been turning in that direction. The big data and business analytics market is expected to grow to $203 billion by 2020, according to IDC’s Worldwide Semiannual Big Data and Analytics Spending Guide.
“The availability of data, a new generation of technology, and a cultural shift toward data-driven decision making continue to drive demand for big data and analytics technology and services,” said Dan Vesset, group vice president, analytics and information management at IDC.
The industries driving much of the present and expected growth include banking, discrete manufacturing, process manufacturing, federal and central governments, and professional services. Together, these industries accounted for nearly 50 percent of worldwide big data and business analytics investments in 2016 and will remain the top five industries through 2020. In addition to being the industry with the largest investment in big data and business analytics solutions (nearly $17.0 billion in 2016), banking should see the fastest spending growth.
“This year and over the life of the forecast, we’re expecting to see healthy growth in spending on big data and analytics technologies from nearly all industries, including banking and telecommunications,” said Jessica Goepfert, program director, customer insights and analysis at IDC. “In our end-user research, respondents from organizations in these industries are placing a high priority on analytic initiatives over other technology investments.”
According to a recent survey by Gartner, 48 percent of companies invested in big data last year and nearly three quarters of respondents said that their organization has invested or is planning to invest in big data in the coming year.
“Big Data is a key component of the digital evolution,” said Chris Pantelidis, global head of EMA Partners’ global payments, digital & transaction services practice in Toronto and New York. “Organizations use data to change the way they operate or to improve products and services, and the analysis and manipulation of that data has become a driver of revenues and profits. Over the next 10 years the scale and diversity of Big Data will lead to new sources of insight that will allow companies to engage with customers in unique ways.”
“Many experts believe that there is a time lag between insights and the utilization of data, so there is a need to generate real-time results and use them to gain a competitive edge,” said Mr. Pantelidis. “Continuous research and development is paramount in this area, and the trend of building centers of excellence to support big data initiatives will continue. We are seeing an increase in demand for chief data officers, chief data scientists, chief analytics and chief digital officers.”
“Similar to other digital roles, organizations are finding it very difficult to identify strong leadership talent in these areas. It is a niche market that is getting more complex, where the demand for talent far outweighs the supply.”
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; Stephen Sawicki, Managing Editor; and Chase Barbe, Managing Editor – Hunt Scanlon Media