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Past Issue • Apr-Jun 2012

Business Analytics: Essential for Defining Strategy for Companies

“Introduction to Business Analytics,” a workshop held recently at the Indian School of Business (ISB) helped demystify some preconceived notions regarding business analytics. In addition to Professor Galit Shmueli, Associate Professor of Statistics and SRITNE Chaired Professor of Data Analytics, the other prominent speakers at the workshop included Kuldeep Parikh, Strategy Lead, HP Global Analytics; Ajay Kelkar, Chief Operating Officer, Hansa Cequity; and Kishore Rajgopal and Divyabh Mishra, Founders of CrowdANALYTIX.

A packed audience of students, CEOs, directors and entrepreneurs listened intently as Professor Galit Shmueli gave the introductory lecture of the much- awaited workshop. Providing a brief over view of business analytics, Professor Galit Shmueli spoke about the evolution of analytics and how business analytics differs from traditional statistical analytics and optimisation. Her talk specifically focused on the power of predictive analytics, clarifying a common misconception on this subject. Companies often classify Reporting and BI (Business Intelligence) tools as analytics. Professor Shmueli explained the difference between the retrospective nature of reporting and the futuristic nature of predictive analytics and also the aggregate level of reporting vs. the individual level of personalisation in predictive analytic.


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