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Importance of Statistics in the Student’s Life If They Are In The Data Analysis Company

The statistics enjoyed a period of very strong growth in the mid 2000s, as improvements in ICT services greatly improved the ease of distribution of data. This fostered an increase in outsourcing of data processing services to statistics participants.

The increased outsourcing of data processing services has been facilitated by rapidly increasing penetration of next generation high-speed broadband networks, which have created raft of new value added components to the traditional revenue streams.

Advances in computing technology, coupled with a rapid decline in the real price for computing products, have seen the statistics introduce much more advanced software packages that offer greater data analytics for clients. Over the next five years data packages will be remotely hosted, and clients will pay a subscription cost to statistics participants for services rendered instead of actually investing their own capital in data processing software.

The economic downturn’s beginnings in 2007-08 drastically stunted statistics growth for that year as the financial sector imploded and major industries were faced with reduced corporate IT development and operating budgets. However, the early signs are that the statistics will return to growth in the immediate future, as the outsourcing will continue to increase operational performance. In addition to the traditional databases, the increased connectivity is resulting in numerous specialised niche databases being created.

However, increased connectivity is also creating a strong additional competitive threat to domestic participants. The increased connectivity is reducing previous barriers to entry for large international participants in the processing statistics. The statistics will have a high reliance on labour in the outlook period, and as such labour arbitrage opportunities exist for off-sourcing international operators. This will see that a larger proportion of Australian demand be serviced by international operations.

One factor which may threaten the statistics’s continued expansion in Australia in the longer term is the continuing trend of technology based services to be relocated to India, or for companies based in India or other similar regions to offer services to Australia, as increasing ease of communication and data transfer make this simpler.

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