Great Lakes Knowledge Series
In our mission to foster managerial leadership and entrepreneurship in the development of human potential through quality research, teaching, residential learning and professional management services, we have initiated the 'Great Lakes Knowledge series', through which we aim to reach the Professionals & Entrepreneurs in India and interact with them on the current topics/issues of general interest.
Great Lakes knowledge series will be a monthly event which will bring together an eminent speaker with expertise in a particular topic and shall encourage participation of Professionals from Corporate and Entrepreneurs. The series will also help us updating our course curriculum through insights that we gather during these interactions and help us build Industry requirements in preparing our students to be Business Ready Managers.
Turn Big Data into Big Advantage - Mr. Anirban Dey, Managing Director, SAP Labs India
Date - October, 17 2013 | Venue – Zuri Whitefield, Bengaluru
In the second edition of the Great Lakes Knowledge Series held in Bangalore on October, 17 2013, Mr. Anirban Dey, Managing Director, SAP Labs India addressed corporate professionals, managers and entrepreneurs on the topic, “Turning big data into big advantage”. He spoke about the power of intelligent data and the role of mobile enterprise in revolutionizing data storage.
We all live in the world of big data which is growing bigger and even bigger. Mr. Anirban Dey, in the session by Great Lakes Institute of Management, shared his insights about big data and the importance of timely action on the big data. He also spoke about the power of intelligent data and the role of mobile enterprise in revolutionizing data storage.
In the session, Mr. Anirban Dey illustrated on how the big data is helping in the transition of technology in terms of easy interaction, governing, data mining and brining the entire work force in one nutshell. In his analysis driven presentation he described how the business world is going to be empowered with immense information available at their disposal. He also threw light on the challenges with respect to capturing, storing and curating data.
He also introduced nuances of the digital world that are relatively new such as “Data as an Asset”, “Data Phobia” and “Digital Afterlife”
Explaining ‘Data Phobia’ he said that it is nothing but the phobia in using the data. Everyone using computer, even in personal life, back-up the data and again back-up the backed-up data. But how many times we are going back to take the data which is stored for some five years; we may not even remember. Does this proliferation of same data give any value in daily life? But we are assigning a mental value to the data with an expectation that it will give some value in life sometime.
Briefing about the ‘Digital Afterlife’ he said that it is all about who will own and use your personal data after your life in this world. Tomorrow one may write a will and nominate a candidate to inherit the data after your demise; by the way giving life to the data again.
Giving an insight into the future of Data analysis and storage he spoke about In-Memory technology that big players like Google search, YouTube, Facebook and e-bay have been using to understand the consumer, save searches and suggest searches related to what he might be looking for.
He also added, “From a corporate and business perspective Real-Time factor becomes very important. Timely action on the analyzed data is so critical. If you make your data real-time your volumes become much higher and ROI is a whole new ball game altogether. Real-time action on real-time data helps to get maximum benefit of the big data.”
The Rupee Challenge - Dr. Bobby Srinivasan, Distinguished Professor, Great Lakes Institute of Management and Former President of IFMR
Date -September, 10 2013 | Venue – Adyar Club, Chennai
Dr. Bobby Srinivasan, Distinguished Professor, Great Lakes Institute of Management and Former President of Institute for Financial Management and Research, delivered a presentation to the corporate honchos on the topic, “Sagging Indian Rupee, Returning home to lower economic growth.” The presentation officially flagged off the inaugural session of Great Lakes Knowledge Series, a monthly initiative organized by Great Lakes Institute of Management with an objective of leveraging its intellectual capital for knowledge dissemination to industrialists , corporate professionals and self employed on latest business trends, market progress and industry growth.
Dr Srinivasan started the presentation with a recap on similar economic meltdown that took place in the USA in the year 2001, where nearly 90% of the internet companies crashed causing liquidity crisis. In his comparison he threw light on current economic stand of India and future possibilities. Talking on the topic Dr Srinivasan said, ”As a promising emerging economy, in 2004 India received hundreds of billions of dollars through the FII, FDI and ECB Channels. This is because excess money was created in the US and needed to be absorbed.”
He added, “The general consequence of economic crisis are; local currency value depreciates significantly, GDP growth rate drops, per capita GDP plunges, manufacturing takes a big hit and consumer confidence drops.”
On the current status of Indian economy, Dr. Srinivasan highlighted that in the current Indian Central budget of Rs. 16.65 trillion around Rs. 5.5 trillion or approx.. 33 % was borrowing. In other terms, for every 100 rupees spent, borrowed money is expected to be is Rs. 29. Of the 100 rupees 18 rupees will go towards interest on previously borrowed money. 10 rupees will go to subsidies and increasing for e.g. Food security bill. In the first 4 months of the financial year the government has already used up 63% of the budgeted money. If this trend continues we can expect the fiscal deficit to be around 7.8 trillion rupees, of course not counting the food security bill. Therefore it is expected that this will contribute to surging inflation and growth rate and GDP coming down.
He added that an analysis of India’s trade in the last 3 years indicated that our trade deficit has been going up as below
2010 – 11 $ 130 billion
2011 – 12 $ 180 billion
2011 – 13 $ 190 billion
Therefore the expectation of deficit $ 150 billion or less seems unlikely.
Dr. Srinivasan concluded, “To cover the deficit, the government may be constrained to take recourse to print money that might lead to a rush to convert cash in to real assets, increase in gold purchase, increase in the loan borrowing etc.. On the current account, if the liability of Rs. 400 billion increases against a forex reserve of Rs. 275 billion, the rupee is likely to plunge further.”