IIM Ranchi, IBM enters MoU to set up IBM Business Analytics Lab
| August 23,2012 04:01 pm IST
IBM (International Business Machines Corporation) an American multinational and global leader in data and technology services has signed a MoU (Memorandum of Understanding) with the Indian Institute of Management Ranchi (IIMR) to set up Business Analytics Lab. Under the MoU, IBM will provide Cognos, SPSS and data mining software.
IBM Business Analytics Lab will be a part of IIM Ranchis Business Analytics Centre which is being headed by Prof. Pradip Kumar Bala. The Business analytics Centre aims at developing a repository of analytical frameworks and to pursue collaborative research with industry. IIMR and IBM will also work together to build a strong industry-academia linkage to impart career oriented skills to the students. Collaboration will also seek to advance and enhance intellectual and innovative capabilities among students and promote global best practices in the field of analytics.
IIM Ranchi with its focus on holistic development aims at using business analytics in social sectors like education and healthcare. As part of this vision, IIM Ranchi organized Conclave on Business Analytics on 17th August, 2012 in Hotel Radisson Blu, Ranchi to enlighten the students and participants from the industry about recent developments and best practices in the field of analytics. The theme for the conclave was Redefining learning paradigm with business analytics. The conclave witnessed confluence of industry experts from IBM, HSBC, Citibank, HP, CapitalOne, A.T. Kearney and many more companies.
The conclave started with the lighting of the lamp followed by the singing of the institute song. Prof. M.J. Xavier in his inaugural speech said, Data is abundant and every moment data is being captured through ERP, CRM and other data capturing models but we need to extract the relevant information out of the data, information that empowers the companies to get the right answers the first time in making informed decisions. Prof. M.J Xavier also cited the example of Tesco, how it combined beer and diapers at the retail stores. Tesco's analysis showed that new fathers tend to buy more beer because they are home with the baby and can't go out to pub.
Mr. Kunal Dureja who heads the IBM Career Education Program for IBM in India and South Asia pointed out that IBM through its tie-up with the IIM-R wants to create the right mix of skills among the students through live cases and actual scenarios across various industry verticals in the field of analytics.
Mr. Prashant Tewari, who leads the IBM Business Analytics Software division for the India and South Asia region said, IIM Ranchi is unique as it wants to use analytics for development purposes. He also highlighted that the field of Business Analytics is growing very fast and the biggest user of analytics is surprisingly the Public Sector.
Mr. Kunal Dureja, Mr. Prashant Tewari and Prof. M.J. Xavier then proceeded to IIM-R campus to inaugurate the IBM Business Analytics Lab.
Morning session chaired by Prof. Ganesan Kannabiran saw eminent industry persons in the analytics domain sharing their experiences with the students. Mr. Janmejai Lakhani, Director, CapitalOne pointed out that students in India are very sharp at statistics and mathematics but when it comes to solving actual business scenarios they lag behind their counterparts in the Western World. Mr. Derick Jose, Director, Flutura Decision Sciences and Analytics provided an insight into Digital Marketing Analytics. He presented a case study about an online travel agency and explained how analytics is being used out to improve customer experience and remain one step ahead of competition. Mr. A.G. Sayinath, Global Practice Head for BI and Analytics at Sonata Software Ltd. talked about how analytics is being used to reduce costs in logistics by optimizing career allocation and route plan. The morning session came to an end with Mr. Nitin Godawat, head, Analytics Team at A.T. Kearney explaining the role of analytics in providing 360 degree understanding of the customers behaviour and tastes.
The post-lunch session of the day-long conclave revolved around the theme of Aligning Analytics Skills to meet the Market Requirement and was chaired by Dr. Randhir Mishra of Protrack Education. It saw the participation of noted personalities from the analytics industry like Mr.Dheeraj Awasthy, Senior VP, Risk Analytics, HSBC, Mr.Rajeev Baphna, CEO, Analytica, Mr.Aditya Khandekar (CFA) Senior GM, Banking Analytics, Ms. Gitali Halder and Mr.Aseem Ali Kidwai from the Global Analytics Group, HP. During this session, the students were exposed to the finer nuances of what the analytics profession demands, specially the significance of critical thinking in the domain of analytics.
With a number of interactive and insightful sessions, and vibrant talks, the conclave had a lot to offer to all those present. The conclave finally came to an end with a vote of thanks by Prof. P.K. Bala.