4th National Business Analytics Konclave

Theme: Building a Sustainable Inclusive Future: Industrial Challenges & Opportunities in Analytics

August 19, 2023

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Introduction:

Over the last 20 years, the field of business analytics has seen significant advances and has transformed the way businesses operate and make decisions.
One of the most significant advances in business analytics has been the advent of big data technologies. With the explosion of data in recent years, businesses have had to find new ways to store, process, and analyze vast amounts of data. This has led to the development of technologies such as Hadoop, Spark, and NoSQL databases, which have made it possible to store and process massive amounts of data efficiently.
Another major development in the field of business analytics has been the rise of machine learning and artificial intelligence (AI). Machine learning algorithms are now being used to make predictions and recommendations based on data, and AI-powered systems are being used to automate a variety of tasks. This has led to significant improvements in areas such as customer service, fraud detection, and supply chain optimization.
The rise of cloud computing has also had a significant impact on business analytics. Cloud-based analytics platforms have made it possible for businesses to access powerful analytics tools without having to invest in expensive hardware or software. This has democratized access to analytics, making it possible for even small businesses to leverage the power of data to make informed decisions.
One of the most exciting developments in recent years has been the rise of generative AI, such as ChatGPT.
These algorithms are capable of generating new content, such as text or images, that is indistinguishable from content created by humans. This has opened up new possibilities for applications such as natural language processing, content creation, and even gaming. Overall, the development of analytics tools has been driven by the need to solve complex problems and make better decisions based on data. From the Enigma machine to generative AIs, these tools have transformed the way we approach analytics and opened up new possibilities for the future.
The 4th National Business Analytics Conclave at KIIT School of Management, KIIT Deemed to be University would provide a forum to debate these aspects. The conclave will have one-panel discussion on ‘Business Transformations with the Adoption of Analytics’ and an array of workshops to discuss various aspects of the theme. We hope that through this conclave, we can explore how advances in business analytics can be leveraged to address the pressing challenges of sustainability and inclusivity and build a better future for all.

Panel Discussions

Business transformations with the adoption of analytics

Business transformations with the adoption of analytics have become crucial in today’s data-driven world. With the rapid advancement in technology and the increasing amount of data being generated, businesses are using analytics to gain valuable insights and drive growth. According to a recent report by Gartner, the global business analytics market is expected to reach $97.3 billion by 2026, growing at a CAGR of 7.9%. This growth is driven by the increasing demand for data-driven decision-making across industries. Analytics is being used by businesses to optimize their operations, improve customer experience, and drive innovation. For example, in the retail industry, analytics is being used to personalize the customer experience, optimize inventory management, and improve supply chain efficiency. In the healthcare industry, analytics is being used to improve patient outcomes, reduce costs, and enhance clinical decision-making.

The adoption of analytics has also led to the emergence of new business models and revenue streams. For example, businesses are using analytics to create data-driven products and services, such as personalized recommendations and predictive maintenance. However, the adoption of analytics also comes with its own set of challenges. One of the major challenges is the lack of skilled professionals who can effectively use analytics tools and techniques. Another challenge is data privacy and security, as businesses need to ensure that sensitive data is protected and used ethically. The adoption of analytics is a critical component of business transformation in today’s data-driven world. With the right tools and expertise, businesses can leverage analytics to gain valuable insights, drive growth, and create new business models. Thank you for being a part of this important conversation. We look forward to a fruitful and engaging discussion

Topic

  1. Introduction to Data Science and Analytics: This workshop can cover the basics of data science and analytics, including data collection, data cleaning, data exploration, and data visualization.
  2. Machine Learning Techniques: This workshop can focus on machine learning techniques such as regression, clustering, classification, and neural networks, and how they can be applied to business problems.
  3. Predictive Analytics: This workshop can cover predictive modeling techniques such as time series forecasting, decision trees, and random forests, and how they can be used to predict future trends and outcomes.
  4. Text Analytics and Natural Language Processing: This workshop can focus on techniques for analyzing unstructured data such as text, including sentiment analysis, topic modeling, and named entity recognition.
  5. Big Data Analytics: This workshop can cover techniques for processing and analyzing large datasets, including distributed computing and cloud-based solutions.
  6. Marketing Analytics: This workshop can cover how analytics can be used to optimize marketing campaigns, including customer segmentation, lead scoring, and churn prediction.
  7. Operations Analytics: This workshop can focus on how analytics can be used to optimize operational efficiency, including inventory management, production planning, and supply chain optimization.
  8. Human Resources Analytics: This workshop can focus on how data analytics can be used to drive better decision-making in the field of human resources. It can cover topics such as talent acquisition, employee engagement, and performance management.
  9. Financial Analytics: This workshop can focus on the application of analytics techniques in the finance industry. It can cover topics such as financial forecasting, risk management, and portfolio optimization.
  10. Data Ethics and Governance: This workshop can focus on the ethical and legal considerations involved in collecting, storing, and using data, including issues of privacy, security, and bias.

Who should attend?

Students having an inclination towards marketing must look forward to be a part of the conclave and benefit from the discussions and interaction with the Industry experts. It is also an opportunity to test their marketing acumen by participating in the business contests.

Industry Experts shall share this platform with other stalwarts from industry as well as academia to discuss and debate on diverse issues concerning the future of Business Analytics. It is also opportuni- ty for them to interact with the young minds to get a fresh perspective on various aspects of Indian marketing scenario.

Academicians can utilise the conclave to share their thoughts on the future of Indian marketing world with participants from industry as well as with students.