As part of the Colloquium series, Amrita School of Business, Amaravati hosted an engaging and insightful session on the transformative topic of ‘Business Analytics – What? Why? And How?’ The event aimed to demystify the complexities of business analytics while emphasizing its growing importance in decision-making and strategic planning across industries. The session was delivered by the highly accomplished Dr. Senthilkumar Thangavelu by captivating our MBA students for a deeper understanding of the tools, techniques, and applications of business analytics in today’s data-driven world.
Dr. Senthilkumar Thangavelu is an eminent academic and industry professional with over 28 years of experience in IT software and product development. He has held leadership roles in globally recognized companies like Wipro, Syntel, and Misys by specializing in project management, compliance, pre-sales, bid management and Six Sigma facilitation. His extensive academic credentials include an M.Sc. in Physics, an MBA in Finance from Ohio University, and a Ph.D. focusing on OSS adoption and innovation management. As a dedicated educator with six years of teaching experience, he is known for his expertise in Information Systems and Project Management, mentoring countless students in achieving academic and professional excellence.
Dr. Senthil began the session by underlining the key role played by business analytics in the rise of UPI transactions following the massive implementation digital currency throughout India. He emphasized the importance of identifying patterns, designing business models, and predicting future needs using data mining and visualization. A noteworthy statistic shared was that 91.5% of Fortune 1000 companies have invested significantly for implementing AI-based technologies, underscoring its centrality in modern business strategies.
Business analytics serves as a cornerstone for data-driven decision-making. Dr. Senthil illustrated how analytics empowers organizations to:
- Understand consumer behaviour, industry trends, and competition.
- Optimize performance and revenue through data insights.
- Drive innovation and operational efficiency.
He discussed the exploding demand for skilled professionals in this field, projecting robust growth rates across roles like management analysts (14%), operations researchers (26%), and market researchers (20%) in the coming decade.
Our distinguished guest illustrated how business analytics systematically works:
- Data Collection: Gathering structured and unstructured data from diverse channels such as digital transactions, social media, and customer feedback.
- Data Mining: Identifying meaningful patterns and trends from purchase transactions, online streaming data, etc.
- Forecasting: Using predictive models to influence strategic decisions.
- Visualization: Presenting insights through user-friendly formats like dashboards and graphs, ensuring accessibility for stakeholders.
Dr. Senthil provided a detailed overview of key roles in the business analytics domain such as Data Scientists, Business Intelligence Analysts, and Pricing Analysts. He highlighted the all-pervasive nature of business analytics throughout all industries like finance, logistics, e-commerce, healthcare and entertainment thereby insisting on their dependence on digital technologies like AI and Big Data.
The session helped our students gain practical insights, including:
- Skills Needed: A blend of technical expertise (Python, R, Tableau) and soft skills (communication, adaptability)
- Applications in India: The rise of UPI and digital currency demonstrates analytics in action, optimizing financial ecosystems.
- Real-World Scenarios: From predictive texting to portfolio management, analytics is instrumental in enhancing everyday tools and high-stakes decisions.
Dr. Senthil also stressed the importance of visual storytelling in analytics, using clear graphs and symbols to convey data-driven narratives effectively.
The session concluded with an engaging Q&A, where students posed insightful questions about career pathways, skill development, and emerging trends in business analytics. The guest speaker provided practical advice on acquiring relevant expertise and highlighted the importance of continuous learning in this ever-evolving field. This session provided our students with actionable insights, inspiring them to leverage analytics for driving impactful business outcomes.