Enhancing the Business-ops 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, organized 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 a business, considerably.

The conclave witnessed noted 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 welcome address by Dr. Anil Kumar Sinha, Director, FIIB and the inaugural speech delivered by Dr. Sharad Chaturvedi, Faculty 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 visualization of Big Data obtained through Analytics. He suggested not to focus on the only on the Analytics as it should be utilized with Product Management and UX Design, etc.

To fetch promising results and boost the productivity of businesses, Jain emphasized integrating Analytics with the needs of the business. Analytics is not just data but visualizing the obtained raw data into meaningful insights to create dashboards as it gives the power to understand complex data. He also stressed on aspects such as Identification of relevant data which could prove to be important in steering the growth of the organization and increasing demand for AI Scientists for each department within a business set-up.

Saurabh Jain, also spoke about the importance of projection of data in the form of a story which helps in the understanding of critical issues and help in the formation of counter-strategies. Apart from that, Jain conveyed that the Analytics is not only about observation but turning the observations in realistic conceptual ideas. Encouraging young minds to take up new challenges, he asked the budding business students to build several open source projects for proving their prowess and competence.

The insightful speech was followed with the address by S.C Gupta, Joint General Manager (HR & IR) & Vice Chairman at NIPM where he spoke about the development of burning desire to excel and grabbing of opportunity to reach towards the tipping points, courage to take 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 18 key aspects which should be defined in the logistics pillar for seamless processing. According to Gupta, 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, a breakthrough in productivity, adoption of common standards and strengthening logistics pillar. Apart from that, he also emphasized on 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 utilization analysis, Inventory optimization, and Network optimization.

Besides them, the panellist Survi Mukherjee, CI & Transformation Leader, IBM discussed 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 via 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 intellectual property, deliberating on blockchain, ensuring application of meaningful data, the advancement of technology, focusing on Anti-counterfeiting, enforcement of IP rights, detailed assessment and analysis of big data, focusing people development and organizational development. They also discussed the importance of understanding the road of business analytics, conquering AI through creativity & innovation and widening the prospective.