VGSoM IIT Kharagpur hosts Analytics session by Mr. Manas Agarwal, CEO, Affine Analytics Pvt Ltd
| March 27,2012 05:13 pm IST
When B-school grads wonder if analytics could really fall into the bucket of coveted profiles, It sure does said the man, beaming with confidence, the CEO of Affine Analytics, Mr. Manas Agarwal.
Mr. Agarwal was here at Vinod Gupta School of Management to share his experience and expertise in the field of Analytics. First things first, Mr. Agarwal started off the session with a chart depicting the growth of the analytics industry over the past few decades.
Mr. Agarwal illustrated the increasing demand for analysts in the market by taking the examples of Nokia Lumia and the telecommunications sector. He said that the reason for a huge demand can be attributed to three things. First, the shift of seeing analytics in terms of numbers for understanding it as a direct influencer of business; the strategy shift in short. Second, the growing volume of data; Data is expected to grow at 25% year on year, say experts. And third, the changing requirements and variety.
After sharing the demand side of the industry, Mr. Agarwal talked about how the industry is coping up with this demand. This has been possible and will be possible in the future due to the technology, being available as open-source, integrated offerings (IT service providers also offer Analytics), dedicated man-power for analytics and the Big Data Analytics. With the Big data Analytics comes the massive power of parallel computing and cloud computing which will solve the problem of data traffic and the granularity issues. With the advent of social media, real time analytics is also emerging as a big area.
The four different applications of the business analytics as seen today are in the market mix modelling, predicting customer churn, forecasting demand and as an aid in customer segmentation.
Mr. Agarwal neatly elucidated the requirements of the job. He said one needs to have commendable skills in understanding the business, be conversant with technology and possess excellent math skills which is fact based problem solving. A combination of all three leads to structured thinking, which is critical for the job.
Mr. Agarwal also shared the information pertaining to different sectors that Affine Analytics currently caters to. The Q&A session covered questions such as the importance of analytics for startups through ownership of data and Mr. Agarwals experiences as an entrepreneur.
Mr.Agarwal concluded the session by stressing the importance of always asking the right questions to reach to the crux of the problem. He left the stage instilling an unshaken faith in the students mind that the field of Analytics does offer a plethora of opportunities to innovate and grow.