Envision’15 the flagship Business Conclave of XSYS, the Systems Association of XIMB was held in the premises of Xavier Institute of Management, Bhubaneswar on 29th August.The theme of the conclave was “Transforming Financial Services with Big Data Analytics.” The speakers for the day were Mr. Vinay Kumar, CEO Datawise, a Consulting, Research and Analytics firm; Mr. Ashok Dash, Senior Business Leader, Microsoft Business Solutions, India; Mr. Nitin Goyal, Head Big Data COE, British Telecom, Bangalore and Mr. Srinibas Pattnaik, Senior Director, SAARC.
The inception of the event was marked by the introduction of the speakers by the emcees and the ceremonial lighting of the lamps by the corporate dignitaries present. The discussion was moderated by Prof. Dipak Mishra of XIMB who opened the conclave by talking about how Big Data will benefit numerous industry domains across various sectors. He also gave examples of how companies like CITI Group, J P Morgan, Walmart and the IBM-Twitter Collaboration have successfully implemented Big Data and are reaping immense benefits from it.
The first speaker of the day was Mr. Vinay Kumar. He spoke about how the world is so connected today that the repercussions of one event influences the economies of many other countries; referring to last week’s devaluation of the Chinese currency and its effects worldwide. Coming to the FSI domain, he talked about Fraud Management, how the Indian economy is human driven and that it needs to become more algorithm driven and was quoted saying “The only good money in the world is what is not in the Bank.” He also touched upon the application and challenges of Big Data and its many benefits in the foreseeable future.
Appreciating the topic at hand, the second speaker, Mr. Ashok Dash, an XIMB Alumnus, talked about the huge market potential and the evolution of Big Data. Highlighting the fact that the business functions which would benefit most were Sales, Marketing and HR, he also touched upon topics like Risk Management, operational efficiency, Regulations and Compliances.
Next to speak was Mr. Nitin Goyal, another XIMB Alumnus. Welcoming the opportunity to speak at his college, he spoke about Self Service Analytics, Customer Experience Analysis, Operational Excellence and Security Analysis. Citing the example of PAYTM, he added that a three sixty degree view of the customer, its wallet size, needs, tastes, preferences should be taken into account to target them better. He also mentioned about Data scientists anduseful Tools like Tableau R and OBI and SME Engagement. “To know the problem before the customer does, is the key to success”, he said.
The final speaker of the day was Mr. Srinibas Pattnaik, who enlightened us with concepts of Geospatial Big data, its applications in Google maps etc., the challenges faced and the efforts undertaken to address them. “In this world of data abundance, its necessary to learn to find patterns to foresee problems and work on solutions”, he said.
The panel discussion was followed by an insightful question and answer session. The session was summarized by the moderator, Prof. Dipak Mishra and winners of various competitions organized by XSYS were announced. The delegates were presented with mementos and the annual magazine of XSYS was presented. The summit was finally concluded with a vote of thanks by Prof. Sanjay Mohapatra of XIMB
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