EVENT INTRODUCTION
Data and the embedded information have been the need of the hour. And those who wisely use data have a road not ending of success. Our memory of the disturbances brought on by the Covid-19 epidemic will be deeply etched by the years 2020 and 2021. World economies came to a halt, and sectorial losses forced numerous companies to shut their doors as huge numbers of people lost their jobs. These occasions fundamentally completely changed the way we interacted with one another as well as the way the world economy operated. With the adoption of big data analytics, organizations underwent significant organizational changes and moved a number of business operations online in order to remain competitive.
However, the pandemic has dramatically altered business models for companies across all industries. These organizations started their digital transformation journey in line with the rise for tech-driven solutions. The healthcare industry grew as a result of AI-driven improved reporting, healthcare business analytics, and electronic records. The hospitality sector analyzes customer data to understand preferences and demand forecasting to adopt dynamic pricing strategies. Retailers use predictive data analytics to offer buy recommendations and also personalize the entire customer experience online. Banks are consolidating internal and external customer data to build predictive profile of each banking consumer. To further comprehend the new trends during the pandemic, organizations who embraced the remote working paradigm had to implement advanced analytics.
But does it stop there? The Data has been growing in folds and so is the importance of analytics. With the changing times, Companies, individuals, government and even the startups have realized the importance of the Analytics in their respective Fields. The growth is unimaginable in the near future.
Organizations are gathering more data than ever before in an attempt to gain competitive edge from both internal and external data sources. But there are opportunities and obstacles involved in extracting value from the massive amounts of data they are producing. As we enter a new decade, examining present and expected trends may highlight the most promising ones for organizations and its growth.
The 3rd National Business Analytics Conclave at KIIT School of Management, KIIT Deemed to be University would provide a forum to debate on these aspects. The conclave will have two panel discussions and an array of workshops to discuss various aspects of the theme.
