Then, it was Mr. Nagendra Sastry, Analytics head at IQR Consulting, who took to the podium to talk about the emergence of Big Data. He talked about how the 3 Vs (Volume, Variety and Velocity) lead to creation of huge amounts of unstructured data. He stated that, “Huge amount of data (volume) from different sources (variety) is being generated at a high speed (velocity)”. He talked about the different databases which are used to store Big Data such as Redis, Hadoop, Cassandra etc.
The last speaker for the day was Mr. Goutam Das, Founder and CEO of InsAnalytics. He told the students that in order to become experts at Data Analytics, they will have to play and dirty their hands with data. The rest of his speech focused on the intricacies of data analytics as a field, citing real world examples wherever needed.
Towards the end, there was a panel discussion moderated by Prof. Pradip Kumar Bala (Dean, Academics, IIM Ranchi and an analytics enthusiast) on the challenges for implementing Big Data Solutions in Indian Retail Industry. The panel discussion was extremely insightful for the students where the dignitaries pointed out that companies which won’t be adopting big data solutions will lose out heavily to their competition and might as well perish.
Two eventful days of the third management concave at IIM Ranchi came to a close with a vote of thanks by the President of the Student Council, Chetan Ingaleshwar. Radix lived up to its expectations and even surpassed it; as was evident from the numerous praises received from the guest speakers on the eager participation of the students. IIM Ranchi will be back with more such management conclaves in the future attracting renowned industrialists, entrepreneurs and academicians from India and abroad.
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