Using Analytics for Better Decision Making
Today, SPIN Chennai and IEEE Madras Chapter had organized a talk by Suresh Krishnasamy (Former Head, Analytics at Cognizant) on a pressing topic for businesses today – Using Analytics for Better Decision Making. The venue was the seminar hall at ISTE Professional Centre, Gandhi Mandapam Road, Kotturupuram.
Suresh talked about Industry 4.0 and 5.0 – the innovations that are happening in business that are able to collect meaningful data and successfully extract intelligence and patterns. He differentiated between what is Analysis and Analytics. An analysis is always past, whereas Analytics is about present and future – on what is happening, what can happen and what should be happening. It is search vs discovery. He mentioned how competitors are able to collaborate using modern tools and technologies like 3D printing- like in the Air India’s 787 deal which used GE Engines but casings from Rolly Royce, the power that’s available in a simple Excel function (XIRR).
He talked about IT Transformation stages – Legacy, Heritage, Collaborative, Commodity, Cloud and Crowd.