On 24th July 2014, Tapmi students had the privilege of attending a guest lecture by Mr. Vijay Nagasubramanian, Head – Customer Experience and Mr Charan Nagaraj, Manager, Global Web Quality Assurance and Analytics, HP India.
The session was aimed at discussing the importance of Analytics and why analytics is not big data. The guests talked at length about how data analytics has changed rapidly in the past few years. The guests started the discussion with a brief introduction about Brontobytes and the dramatically accelerating pace of data generation.
Talking about Analytics, guests cited example of some big organizations dealing with large amounts of data. For analyzing big data, businesses usually require a lot of experimentation before developing durable insights. Google came up with Gmail since they wanted to capture big data. They came up with a solution on how future generation is going to communicate. Innovations in data analysis technologies have made it possible to analyse data to a large extent. Google also came up with several data analysis services which enabled business analytics for today’s fast changing business environment.
The session continued with further discussion on facebook’s method of data generation. Facebook utilised the power of social media to gather big data. With the boom of social media in recent years, they could track and capture information about people sitting in different corners of the world and in different geographies. Google countered this by coming up with Google Earth but they could not succeed in capturing the amount of data they needed. This led to Google purchasing YouTube. At one point of time YouTube became one of the fastest growing sites on internet and acquired as much bandwidth as the entire internet.
The discussion went further on how difficult it is to manage the VUCA world. The world has become so Volatile, uncertain, chaotic and Ambiguous. There are multiple forces, issues, chaos and confusion that surround an organization. We are unclear not just about the present situation but also of the future outcome. Thus, the world with VUCA has become more stressful, there is more data to Comprehend, with less control on outcomes. This has exposed us to some base realities. Today, the buyer determines the value of a product which is always relative and shifting. Thus Entrepreneurs are coming up with solutions that offer new dimensions of value. They are collaborating with their competitors because in VUCA world it’s not just about having the competencies to lead, but it is about how to develop yourself and others.
The guests concluded the session by talking about the pitfalls of Analytics. Lack of analysis, unclear definition of goals and metrics, getting overwhelmed with too much data and inability to draw valuable insight from that data are some major challenges in Analytics. To overcome them, it is very important to come up with clear objectives and goals and standardize your key performance indicators. Also it has become important to invest in comprehensive insights, to make meaning out of such big data.
The session proved very insightful for the students, especially for aspiring analysts since big data is the next frontier for Innovation, competition and productivity. The session came to an end with the Placement Committee of TAPMI sharing the vote of thanks and presenting the guest speakers with mementos on behalf of the TAPMI family.