The four V's of big data - volume, variety, velocity and veracity-were the focus of a discussion during the Analytics lecture held on 16th August, 2014 in the KIAMS auditorium. The four V's of big data - volume, variety, velocity and veracity-were the focus of a discussion during the Analytics lecture held on 16th August, 2014 in the KIAMS auditorium. The guest lecturer was Mr. Shiva Gopalakrishnan, DWH Consultant, SPAR Solutions LLC. Mr. Gopalakrishnan began his talk with the basics, taking the audience through simple questions like "what is analytics" before moving on to more complex concepts like the Domino Effect and Linchpin Theory.
Emphasizing the importance of analytics and its development as a science, he said, "Even a housewife is an analyst in her day-to-day life, figuring out how to run the household. However, to be a professional analyst, one has to learn the science behind it." He said that 80 percent of people in the industry need professional analysts to interpret and clarify data for them.
Mr. Gopalakrishnan also spoke about industry trends for credit cards, telecom, retail and banking, and discussed technology trends like SAS, SPSS, Excel, and Rapid Miner. His discourse went on to cover important aspects of analytics, including assumptions, data quality, data veracity and hypothesis. There was also a detailed discussion on two types of analytics: descriptive and predictive.
The floor was finally opened to questions and there was a flurry of interaction to resolve queries and doubts. He addressed several questions including those related to Pattern Finding-Outliers. The session was a resounding success with the students looking forward to several such interactions in the future.
- Media Relations Club (MRC), KIAMS
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Original Source: Secrets of Analytics Revealed at the Latest Industry Interaction at Kirloskar Institute of Advanced Management Studies (KIAMS)
