The session started at 10 Am with a formal welcome note by Dr. Sheetal Mahendher and gave the formal introduction followed by a formal interaction between the guest speaker and our director Dr. Y Lakshman Kumar. Then our
speaker took over the session and started with a brief overview of what does business analytics includes. Then he started what are the different stages of analytics like predictive analysis, descriptive, prescriptive, diagnostic,
descriptive analysis. He explained each with an example and asked some students as well if they can explain them.
Then he took it forward and explained its applications in different sectors like finance, marketing, hospitals, operations and how it will be applied to solve problems in these sectors. Then he explained a design tree in HR case to predict attrition and thereby giving any salary hikes or appraisals.
Later he gave us examples of how inventory management is done and how Retail stock keeping is done and what should be the size of a shelf and what quantity of items are to be filled with them in many hypermarkets like Walmart’s and so on. Also, on occasions business analytics is also used in basket analysis, customer behavior pattern, peak hour analysis using time functions, customer choices and their most preferences and what products are
mostly taken, and in what hours. He showed us some stats of how sales data is being analyzed to identify what
matters most for a customer from the brand. Also, what type of items are being sold most so that a company can modify their product range based on these figures. We were enlightened on how inventory management is done and how to minimize the cost of picking up and loading-unloading of stocks. He taught us some basics on how to formulate a mathematical function using different constraints like time, cost, quantity, etc. Last but not least he gave some futuristic ideas on what are the different analytic roles we can focus on like portfolio analyst, product analyst, security analyst, and so on, and what are the basics required to excel in it. Students were given a chance to ask their queries and they utilized it by asking their concerns.
The session ended with a formal vote of thanks by Dr. Sheetal Mahendher The session was very informative and full of enthusiasm. We had the opportunity to interact with Mr. Perumal Jayakumar where we could explore the different
aspects of the Business Analytics domain.