A TECH TALK ON ANALYTICS AND BUSINESS - DEPARTMENT OF DATA SCIENCE

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The Department of Data Science, CHRIST (Deemed to be University), Pune Lavasa Campus, in collaboration with Women in Big Data (WiBD), organized an expert talk on 'Exploring the impact of Analytics in Business' on 3 June 2021 from 4.30 PM - 5.30 PM. The resource person for the event was Dr Bindu Narayan, Senior Manager, EY. Around 52 participants consisting of students and faculty members, attended the event. 

The event commenced at 4:30 PM, with office bearers Ms Prathna Khanna and Ms Shreya Nunna welcoming the audience. Dr Fr Jossy P George, Director and Dean, CHRIST(Deemed to be University), Pune, addressed the gathering with a welcome note.  To begin with the programmes, the speaker for the day, Dr Bindu Narayan, was introduced.  


 

Dr Bindu Narayan began the talk by giving a brief introduction on "What is Analytics?". She proposed a definition as the scientific process of transforming data into insight for better decisions. She diligently explained the concept of "Information Management" and added that it is the pyramid of analytics. She continued to speak about how "Advanced Analytics" and "Artificial Intelligence" make up 10% of what business does in data; the rest 90 % is done on "Business Insights. She emphasized that while Advanced Analytics has importance in certain areas, here, "Business Insights" has more importance. Under the realm of Advanced Analytics and Artificial Intelligence, she discussed some of the leading topics in the field, such as Predictive Modelling, Forecasting and Segmentation falls under Advanced Analytics, whereas Cognitive Computing comes under Artificial Intelligence. She briefed about cognitive learning with examples such as reading a book, observing people, etc.          

  


She explained what Big Data Analytics is briefly using a chart titled "The Value of Chain Analytics". From the chart, she explained how optimization is done based on given information. She described the four realms Descriptive Analytics, Diagnostics, Predictive Analytics and Prescriptive Analytics with examples. She presented where business analytics is used in different sectors such as Customer Intelligence, Sales and Marketing, Finance, Supply Chain, HR,  Operations, demonstrating each example.

She then explained and illustrated profusely about Customer and Marketing Analytics, Analytics in Production explaining the Customer Segmentation and Churn Models. She vividly described the procurement, production process and shipment. Moving further, she talked about Analytics in Finance, under which she briefed about Procure to Pay, Order to Cash, Record to Report, Financial Planning and Analysis, Financial Reporting and concluded her talk on that note. 

To conclude the session, Dr Lija Jacob delivered a vote of thanks for all the support to conduct the event. Ms Prathna Khanna showed her gratitude to Dr Bindu Narayan and thanked everyone for their active participation in bringing the session to an end.


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