About the Guest:
Mr. Veerendra Gadigi is currently Director at Deloitte Consultancy. He has performed the role of a Director at Deloitte Consultancy for the past one and a half year. In the past, he was also a Program Director at Mindtree with more than 5+ years’ experience. He reciprocates excessive project management skills and is continuously engaged with SAP Support. He was also a part of SAP Principal Consultant in Infosys.
Some of his tech skills and knowledge:
- SAP ERP
- SAP Implementation
- Business Consultancy
- Project Management
- Project Delivery
- Operational Excellence
- ITIL Certification
- ITIL Process Implementation
- SAP Delivery Management
Agenda for the guest talk
The topic was Impact of Data and Analytics on Business
- Data are business are mutually inclusive.
- Impact on Business Decision
- Operational Efficiency
- Financial Benefits
- Resolve Business Problems
- Employee Retention
Why Data Analytics?
Because it integrates tools, techniques, and technologies to derive meaning from data, data science is significant. A profusion of gadgets that can automatically gather and store data has flooded modern enterprises with data. Data processing has become quicker and more effective thanks to advances in artificial intelligence and machine learning. Data science now has a diverse ecosystem of courses, degrees, and jobs thanks to industry demand. Discovering previously undiscovered transformational patterns, developing novel goods and services, and real-time optimization are all advantages of data science.
What do you mean by Data and Business are mutually inclusive?
We are all participants in the exchange of data when we buy new goods and services and consumers of data when we watch and listen to media and entertainment, among other roles. People are now aware of the data foundations supporting these actions to the point that they may infer that something or someone is working "behind the scenes" to influence events. Although there are always privacy issues, most consumers are happy to trade their data in return for a good experience and transparency into what is happening behind the scenes.
What is Impact of Data on Business Decision?
Businesses may provide real-time insights and forecasts to improve their performance by using data-based decision making. By doing this, companies may evaluate the efficacy of various methods and decide which company actions will result in sustained development.
- Continual organizational growth
- Knowledge & innovation
- New business opportunities
- Unrivalled adaptability
- Real-time Data to Improve Customer Engagement and Retention
One of the most important areas for which firms now need to produce KPIs is customer service. Businesses have been utilising real-time data to provide clients with individualised services and solutions.
- Enhance Operational Efficiency
companies are leveraging data to automate processes, optimize selling strategies, and enhance the overall efficiency of their businesses.
- Increased Capacity Without Extra Investment
- Data analytics helps finance teams gather the information needed to gain a clear view of key performance indicators (KPIs). Examples include revenue generated, net income, payroll costs, etc.
- Data analytics allows finance teams to scrutinize and comprehend vital metrics and detect fraud in revenue turnover.
Resolve Business Programs
- The ability to process vast amounts of data can help focus business analysis by eliminating unnecessary details and by highlighting overlooked factors.
- Data analytics can help automate and streamline decision-making processes for commonly made decisions – such as stock management and supply ordering.
How Data can help Employee Retention
- Data analytics may be used to identify issues that lead to resignations and raise staff turnover costs, which are substantial even in the best of circumstances. They can also be used to manage risk, improve operational efficiency, and inform strategic decision-making.