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Achieving Business Excellence through Big Data & Analytics

In a bid to develop exemplary leaders capable of generating innovative ideas that could advance the practices of business management while accelerating the growth and productivity, FIIB on Friday, November 30, organised a grand OPEX Conclave with the theme “Data Analytics - A Lever for Operational Excellence”.

The remarkable conclave primarily aimed at sharing of significant business operations-oriented information and techniques, which could intensify the functioning of businesses, considerably.

The conclave witnessed the visit of noted and eminent personalities from business fraternity such as Saurabh Jain, Vice President, Paytm & Head, Paytm - Build for India; S.C. Gupta, Joint General Manager (HR & IR) & Vice Chairman at NIPM; Deepak Gautam, SCM Innovation Head, LG Electronics; Kirit Goyal, CEO Gazelle Information Technologies; Saurabh Tanwar, Vice President Operations, Chaayos; Prabhanjan Mishra, Program Manager, SopraSteria; and Suravi Mukherjee, CI & Transformation Leader, IBM, amongst others.

“FIIB has delivered to its students another thought provoking conference on the hot theme of using analytics to deliver business excellence. Speakers from Paytm, IBM, LG, etc. have today shared their insights into how technologies such as cloud, big data, analytics, and mobility enable and drive the digital transformation, which has become pervasive in businesses today. It is with this foresight that FIIB has been offering to its students courses in visual storytelling, big data ecosystems, and other relevant courses as part of its core curriculum,” stated Radhika Shrivastava, Executive Director, FIIB.

The conclave began with the welcome address by Dr. Anil Kumar Sinha, Director, FIIB and the inaugural speech delivered by Dr. Sharad Chaturvedi, Professor & Area Chair - Operations, IB & ISM at FIIB followed by the speech of Saurabh Jain, Vice President, Paytm & Head, Paytm - Build for India, sharing his deep insights and views on the importance of Visual thinking and visualisation of Big Data obtained through Analytics for enhancing business-operations. To fetch promising results and boost productivity of businesses, Jain emphasised on integration of Analytics with the needs of the business suggesting it to be utilized with Product Management and UX Design, etc.

“Analytics is not just about the extraction of raw data but projecting the same in the form of visualisations and meaningful insights to create dashboards. Dedicated dashboards gives us the power to study and analyse complex data that ultimately facilitates better decision making,” stated Saurabh Jain, Vice President, Paytm & Head, Paytm - Build for India.

According to him, Analytics is just one part of the solution and should not only be used in relation with Big Data but also visualization. The projection of data in the form of story helps in understanding of critical issues and in formation of counter strategies. He conveyed that Analytics is not just about observations but interpreting those observations into realistic conceptual ideas.

Encouraging young minds to take up new challenges, he asked the budding business students to build several open source projects.

Following Jain's comments, S.C Gupta, Joint General Manager (HR & IR) & Vice Chairman at NIPM spoke about the burning desire to excel and grabbing the opportunity to reach towards the tipping points, courage to take the giant leap and experience the power of Big data to steer the growth of business.

Suggesting improvisations as per the requirements of the business, Gupta said that the transportation and warehouse strategy should be changed as well as the methods of delivery. He spoke about the key aspects which should be defined in the logistics pillar for seamless processing. According to him, the logistical aspects such as Space, Transportation, Safety of Inventory, etc along with aspects pertaining to World Class Manufacturing (WCM) such as streamlining of flow and assembly line, internal logistics, reduce time delays and eliminate speedy manufacturing obstacles, fine tuning logistical arrangements, and product levelling, etc.

The presentations delivered by the students on the role and importance of Analytics to enhance operations and make the overall trade processing seamless, marked the closure of the first session of the conclave.

In the second session post tea networking, speaker Deepak Gautam, SCM Innovation Head, LG Electronics, spoke about the importance of safety and quality, cost deployment, breakthrough in productivity, adoption of common standards and strengthening logistics pillar. Apart from that, he also emphasized on the space maintenance, good transport arrangements, reducing waiting time and labour loss.

Voicing similar concerns, Krit Goel, CEO Gazelle Information Technologies also spoke about the urgent need for commodity research, Production planning, Asset utilisation analysis, Inventory optimisation and Network optimisation.

Besides them, the panellist Survi Mukherjee, CI & Transformation Leader, IBM discussed about eliminating the irrelevant procedures to enhance business operations, followed by Saurabh Tanwar, Vice President Operations, Chaayos highlighting the importance of technology in simplifying and enhancing the business operations, operations control, Revenue maximisation, Great customer experience, measuring performance in all departments through gathering of data, Customer lifecycle management, creation delivery methods vai apps as well as providing customised recommendations.

As the conclave came to an end the speakers Prabhanjan Mishra and Jaideep Kohli spoke about working as an intellectual property, deliberating on blockchain, ensuring application of meaningful data, advancement of technology, focussing on Anti-counterfeiting, enforcement of IP rights, detailed assessment and analysis of big data, focussing people development and organisational development. They also discussed about the importance of understanding the road of business analytics, conquering AI through creativity & innovation and widening the prospectives.

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