The future of analytics

On 19th December, we had an impactful session on analytics attended by Mr. Ashuthosh Srivastava and Subhajit Karmakar, both experts in their respective domains. The topic for the session was “Advanced Analytics in Real-time Industrial challenge,” which covered the concept of analytics and its applications and how it started.
Mr. Subhajit started the session by introducing the concept of advanced analytics and its adoption sector-wise in 2021, including computers, electronics and technology, financial services, healthcare and life science, education, public sector and government, retail, and others. He further talked about the most popular analytics tools used, such as sciki-learn, TensorFlow, PyTorch, Google cloud ML engine, etc.
Later, Mr. Subhajit talked about various advanced analytics techniques and the percentage used by each, including supervised learning, deep learning, unsupervised learning, transfer learning, and many more. Further, Mr. Ashutosh Srivastava took over the session by talking about the different data types used in advanced analytics. He started with structured data and gave examples of text, images, video, audio, and others.
Later in the session, Mr. Ashutosh talked about advanced analytics business challenges and applications. He started with financial services and explained the concept of algorithm trading, fraud detection and prevention, loan underwriting, and portfolio management. And, He then explained about retail and different methods such as demand forecasting & stockings, price optimization, and personalized offers. Later, he covered other domains and the use of analytics. The percipient session ended with the question round where Mr. Subhajit and Ashutosh ensured that students understood the topic well.