Strategia

Strategia’17 :Business Analytics

Industry Interaction Committee of DMS, IIT Delhi organized STRATEGIA ’17 (Analytics & Consulting Conclave) where eminent guest speakers have been invited to share their key insights and enlighten the students on Analytics and Consulting domain.

The first session focused on the theme- “Business Analytics: Using Insights to Increase Foresight”. The Panel was headed by Dr. Arpan Kumar Kar, Assistant Professor, DMS, IIT Delhi. Following were the eminent panel members from across the industry, who provided deep insights to our students on the above topic:

The session started with Dr. Kar welcoming guests and provided a base to the topic on which all the panels can put on their views. Ms. Sheetal Ranganathan highlighted on how they provide stories to their clients, rather than huge data on excel sheets by the use of business analyst. She emphasized on the need to refine the data more so that meaningful insights can be obtained which can be used for better customer services. Mr. Dilpreet Singh explained the complete different approach to data analysis by providing insights on which data to choose for analysis, how much data to select and what kind of output can be expected from the data. He talked about connecting the data rather than collecting the data for meaningful insights. Mr. Vivek Dutta emphasized on deploying effective use of analytics to change the customer experience. Mr. Pankaj Gupta remarked about decision which will be governed by data. He emphasized Data is the second part but we need to define our problem, define our needs and then comes the part where machines play their roles.Mr. Bikramji Ganguly mentioned that the recent studies show the increase in amount invested in data analytics. There is an increase in demand for data scientists, data analysts etc. Mr. Miraj Godha expressed how we can look at the historical data to predict. He then stated that IOT devices will create data and cloud systems will do the analytics. 90% effort is to visualize the data and 10% is to determine what to do about this data. Mr. Siddhesh Naik mentioned that we shouldn’t get drowned in the data. Data was always there but now we have technologies that have evolved enough to handle this data.Mr. Amit Gupta remarked how the connected world wants to be intelligent. Understanding the past will help us understanding the present and predict the future.

The floor was then opened for questions where the students asked their doubts to the panelists on various aspects of Big Data Analytics, including ethical and sponsorship fronts.

The second session of the event focused upon the theme: “Business Consulting: From problem solving to creating value proposition. Following were the eminent panelists from the industry who not only dived into the depths of the topic but also covered its broad scope:

The panel was headed by Mr. Alok Verma who initiated the panel discussion by introducing the changes in the consulting industry from being solution providers to being result-oriented. He also stressed on the fact that such alterations are not solely due to disruptions happening around us but also because clients’ expectations have changed. Mr. Mukhopadhyay highlighted the current blurring of line between technology and business. He cited the example of Google working on automatic cars thus posing as a competitor to the automobile sector. This change is attributed to firms concentrating on sensing and visual aspects of customers, using intelligence in decision making and networking. Similarly, consulting industry cannot just rely on traditional skills anymore because the problem statements are multi-faceted, complex and requires linking them with other business streams and to continue being relevant in the industry, it is imperative for consulting firms to not just provide insights based on past experiences but also extensive research and data based. Mr. Bose focused on making traditional systems more agile. He provided insights from his perspective about the way new players provide better pricing points as compared to Big Five backed up by their extensive knowledge database. Since the paradigm shift in the industry has been to exceed customer expectations along with the increasing scope, skill and complexity of problems, new players arm themselves with specializations in niche areas in order to build a value proposition for their clients. Mr. Bose enumerated the steps through which value proposition could be set up:

• Creating a resonance with customers
• Creating a point of differentiation
• Substantiating on the differentiation made

Mr. Krishnan enlisted three important disruptors to his business which includes technology, regulation and geopolitics. Technology has become enablers and in order to drive value to clients, it is of utmost importance to incorporate technology as it improves the execution capability of the consulting firms. Similarly, as and when any new disruption walks in, the talent pool has to adapt quickly to such changes in order to perform. Geopolitics also play a role in disrupting the business as earlier western world was more involved in investments and deals but eastern world is fast catching up which requires new ways to deal with them because of a difference of mindsets, cultures and systems. To deal with the same, skills have to be on a different level so that consulting advisory can think like clients for creating value that become personal to clients.

The floor was then opened for questions where the students asked their doubts to the panelists on various aspects of Business Consulting.

The students of DMS, IIT Delhi extend their heartfelt gratitude to the panelists for taking out their valuable time and sharing their views on changing industrial landscapes.

To get more insights of the session visit
Session 1
Session 2