Great Lakes Institute organizes 3rd International Business Analytics Conference
A conference by Great Lakes on how business analytics is changing the decision making pattern
Great Lakes Institute of Management, held the third International Business Analytics Conference at its Platinum Rated LEED-certified campus in Chennai on December 23, 2013. The conference is an annual summit where industry’s renowned leaders and management students take part to discuss on the current trends of business analytics and the impact it is going to create in the future. Senior professors and doctoral students from renowned universities worldwide such as University of California, National University of Singapore, as well as the reputed IITs in India participated in the conference.
The guests of the occasion John F Dickson, Researcher, University of Texas; Naveen Kapoor, Global Practice Head, Inter Globe Technologies and Uday Bhate, Founder and Principal Partner, nmore were welcomed by Dr. Bala V. Balachandran. The speakers gave an insight on how the industry is drifting towards the big data as a source for contriving product, service or business proficiency. Real time case studies were presented on how business analytics have created great impact the way business decisions are made today.
In his welcome address Prof Bala V. Balachandran said, “Business Analytics is the way of the future, big data, mobility optimization and business intelligence is capturing the business world in a fast paced phase and it is time to take advantage of it in order to optimize business profitability. Due to its relevance and futuristic character of the subject, Great Lakes in addition to providing a major in Business Analytics, will soon be launching executive programme in Business Analytics in collaboration with many renowned industry organizations.”
Key note speaker John F Dickson, Researcher, University of Texas said, “Data has worked in favor of businesses real time. For instance, in the retail industry, implementation of business analytics has become so prominent that it is almost unimaginable to sustain strategic advantage without business analytics. The better you know your customer the better is your sales.”
Speaking on the occasion Naveen Kapoor, Global Practice Head, Inter Globe Technologies, added, “By 2016 most of the companies will manage the businesses using analytics. Business analytics changes the entire customer experience, data gathered based on customer behavior helps in modeling entirely new selling strategy which helps in addressing the likeability of the customer which in turn increases the probability through rapid selling. With business analytics in the picture, we sure have a winner.”
In his speech Uday Bhate, Founder and Principal Partner, nmore, said, “In the real business scenario there is no clear cut answer to a problem, it is all about intuitions. Analytics is not going to take decisions on its own, but it is managers who will do. You are all managers of the future and your rational thinking is going to add value to the entire world of analytics.”
In their effort to groom future ready business managers, Great Lakes has been a pioneer in imparting knowledge with a vision. Business Analytics in the light of Big Data is here to change the entire structure the way business is looked upon today. The business world is entering an era where decisions cannot be taken with mere gut feeling. Any decisions taken should be coupled with proper logical reasoning and backed up with proper data. The conference provided platform for the management students to take a sneak peek into the future of business management through Data Analytics.
In the conference, research presentations on several business applications were delivered,
- Descriptive and predictive analytics – Pattern & trends and future possibilities
- Customer relationship management tools – Critical information on customer decisions patterns
- Process enhancement tools – Helps in increasing the profitability of the organization