He reflected on real-life case studies wherein companies in addition to obtain insights from data-analysis have found methods to monetize data through sales. Furthermore data-scientists have also discovered ways to predict breakout of epidemics, societal distribution and much more. While speaking at length about data and analytics as a service, he stressed on the fact that the ultimate gain is going to be to those organizations that can effectively leverage their data assets while investing in the right resources for analytics. He pointed out that the key service considerations would be in Revenue Management, Service Management and Process Management. Execution at this functional level will determine the success parameters. This, he believes, is where MBA graduates fit in and that every successful company will be set apart by its mix of ‘right data, right time, and right place’.
The lecture ended with a question and answer session wherein our curious minds were satiated with enriching anecdotes from his plethora of experiences. The session ended with a quote from the late Professor Mark Weiser, famously known as the father of Ubiquitous computing. It said, “The most profound changes are those that disappear. They weave themselves into the fabric of our daily lives...Until they are indistinguishable from it”. We believe data science is going to be just that.
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