Wednesday, October 7, 2015

Graphical Techniques: In Analytics

Graphical Techniques: In Analytics
 Primarily Line, Table, Column, Bar, Pie, Scatter Chart, Histogram etc. are used.
Categorical Data: The only measure which could be used on them is counts for each Categories. Accordingly, we can use Table, Bar(Column) or Pie Chart for them.
Continuous Data: The most widely used techniques are Histogram (also called Frequency Distribution) and Line Charts (mostly used with data stamped with Time).
Please load Sample data set Country_Car_Sales on Training Page and use Descriptive Statistics option to learn different techniques.
Example: Read variables AnnualCarSales, GDP, SizeofEconomy etc. to generate different charts. Depending on whether the selected variable is Continuous or Categorical, appropriate charts are generated. 
Combination: We often encounter a mix of Categorical and Continuous data, which in Analytics parlance are also called Dimension andMeasure respectively.
When we combine two Dimensions we get what is known as a Contingency Table. We can combine two continuous variables by a Scatter plot. We can combine Categorical and Continuous data by aggregating Continuous values for Categories by means of Bar or Column Charts.
Line/Column/Bar Chart
 Line, Bar etc. can be used to see distribution of a Measure for a particular Dimension. The measure can be either a sum or mean for a Category. 
 Scatter/Bubble Plot: Scatter Plot is used to find relationship (correlation) between two Continuous(numeric) variables. It can be an important insight for detailed Analysis like Variable Screening or Predictive Modelling. Bubble Plots are advanced Scatter Plots which use an additional Size variable. It can accomodate an ID variable too, which has to be a Categorical(Dimension) Variable.

Monday, September 21, 2015

Anallyz Self Service BI and Analytics - Intro Analytics

Anallyz Self Service BI and Analytics - Intro Analytics
Out of several definitions, which can be used for Analytics, the following should suffice for most of the cases. "ANALYTICS means set of techniques, which gives STRUCTURE to large amount of INFORMATION for actionable INSIGHTS." Structure by Charts, Graphs, Aggregations, Groupings, Inferences, Combinations, Trends etc. Insights by showing What happened, Why it happened, What can happen and What should be done for that.
 Ingredients of Analytics
We will focus on STATISTCS and SMART SOFTWARE (Machine Learning), and mention other ingredients wherever appropriate.
Analytics relies heavily on Classical Statistics and Smart Software, sometimes used independently and sometimes in a combined fashion.
 STATISTICS can be classified into Descriptive and Inferential Statistics. Descriptive Statistics presents summarized view of the as-it-is data, which is easier to use and interpret. Descriptive can be further classified into Graphical and Numerical Statistics. Inferential Statistics mainly refers to techniques, by which we deduce a measure about data(population), based on a part of it(sample) drawn from it. Before we proceed, let us arm ourselves with basic understanding of some concepts.
 Population: Population consists of all the items of interest, which can be possibly used for Analytics. Example could be all adults eligible for voting in a country,all cars plying on the road in a city or all gears manufactured at a plant.
 Sample: We could possibly use all items in a population, however we seldom do that due to huge cost and time involved with it. What we normally do is to take a part of the Population. But we refrain from picking people from the same city or gears manufactured in a single week. We would pick every nth person(Simple Random Sample) from a city, from different age groups(Stratified Sample) in a city and do the same for multiple Cities(Cluster Sample).

Variable is a characteristic of the Population or the Sample. As an example Vote preferences or Weights of people could be a variable. As the name suggests, it can take several values.
 Data is the measured or observed value of a variable. When the data can take uncountable number of values, it is called Continuous Data (Interval, Quantitative Data). When the data can take only finite, countable number of values, it is called Categorical (Discrete, Nominal or Qualitative Data). When we measure weight of a person in absolute value, say lbs. it is Continuous. But when we put him in any of the three categories (Obese, Normal, Under-weight), it is Categorical.
Observe the alignment of Analytics Objectives and Techniques below. We are going to learn Descriptive and Inferential Stastics as foundation for more advanced concepts.

Friday, September 18, 2015

Everest Group had conducted a recent webinar on the market of analytics

Everest Group had conducted a recent webinar on the market of analytics:
  • Majority of analytics business process services are done in-house , meaning there is substantial opportunity for outsourcing
  • While the growth in analytics BPS last 3-4 years was 35-40% CAGR, projection (as per Everest estimates) for 2015-2018 CAGR are even higher at 40-45%
  • North America + EMEA account for 80-90% of the spend (North America 55-60%)
  • While majority of the current work is in reporting & descriptive analytics (both getting commoditized, productized, and automated gradually), there is increasing interest and growth in predictive and prescriptive analytics (both are more expertise based and less prone to commoditization)
  • Largest buyers are CPG & Retail (about 30%) and BFSI (about 25%) followed by Healthcare (about 10%) and High-tech & telecom (about 10%)
  • Revenue enhancement/top line growth is the primary driver of analytics spend
  • Almost all leading players get most revenues from North America

Tuesday, September 15, 2015

MoEngage received funding by Helion Ventures and Exfinity Ventures

MoEngage which is a mobile analytics firm has raised $4.25 million through a funding by Helion Ventures and Exfinity Ventures. They have also raised funds from Kunal Bahl and Rohit Bansal the founders of Snapdeal. MoEngage is building its mobile marketing automation platform which helps mobile based marketers to have focused marketing campaigns. It also helps app companies to work on personalized communications with users. 

Thursday, September 10, 2015

The TEACH Mission is Rotary's attempt to make India 100% literate by 2018

International Fellowship of Golfing Rotarians (IFGR) is conducting a "IFGR golf tournament" - details are available at the link below. Please register and invite your friends to this fantastic opportunity to enjoy the game and also help us raise funds for the "TEACH Mission".

Please register at the following link;

The TEACH Mission is Rotary's attempt to make India 100% literate by 2018. It includes use of E-learning techniques, Adult education, Teacher's Training, Providing  essentials to school children, and equipping schools with necessary infrastructure for imparting quality education. Coming close on the heels of our stupendous success in finally getting India off the Polio map through our decades long Global Polio eradication programme, we believe that this goal is achievable as well. Please share this information with all of your friends and acquaintances and help us make India better.

Monday, September 7, 2015

Fundamentals of Safety Stock

Before we get into the calculations of safety stock we need to understand on why do we need safety stock?  The need for safety stock is primarily to cater to the variations in supply and demand. If there was no uncertainty in demand or supply then there would be no need in safety stock. Since we are dealing with uncertainty and variation the obvious way to calculate safety stock would be using the standard deviation for the variation in demand and supply.
The other important concept that need to be understood while calculating safety stock is the service level. Service level is the percentage of demand that needs to be met from the on hand inventory level.
Service level: It is measured in two ways.
Fill Rate and Probability of Stock Out.
Fill Rate: If there were 3 orders in a week. Each order was of 100 units, which means the total demand was 300 units. The first and the second order was met in full while the last order only 20 units could be supplied then the fill rate would be 210/300 = 70%.
Probability of Stock Out: It is the number of orders that were met in full in a particular period from the inventory on hand. For example if in a particular week there were 3 orders and only 2 could be met in full then the Probability of Stock Out is 2/3 = 67%
 The other factors that need to be considered are Lead Time, Forecast and Forecast Period, Order Cycle, Reorder point, Lead Time Demand etc. Safety stock formulas are often changed based on individual customer requirements.
Mathematically the relationship between safety stock, Reorder point and the Lead Time demand is given as Reorder point = Safety Stock + Reorder Point

Monday, August 31, 2015

Ratan Tata has invested in the Infinite Analytics

Ratan Tata has invested in the Infinite Analytics which is based out of Boston. High profile people like Tim Berners-Lee who invented the World Wide Web, and Deb Roy who is the Chief Media Scientist at Twitter are associated with the firm. It uses Artificial Intelligence, Machine Learning and Predictive Analytics to provide a 360 degree view of the customer. Some of their customers are AirBnB, Comcast , eBay, Tata Marketplace , Croma Retail, and Future Group.

Friday, August 28, 2015

Drag, Defer, Dither and Delay, 4D’s of Decision making

Drag, Defer, Dither and Delay, 4D’s of Decision making

  • Drag, Defer, Dither and Delay are the most effective approaches for Decision making for the following reasons:
  • The problem solves by itself as sometimes circumstances change.
  • Somebody else will decide and act. Pray that the decision fails miserably and your approach of 4D’s is vindicated.
  • One becomes comfortably numb with the problem and learns to live with it. Over a period of time one doesn’t even see the situation as a problem. Frog in the boiling water syndrome.
  • The problem may become an opportunity as circumstances change. In China the word for crisis consists of two characters opportunity and danger.

Thursday, August 27, 2015

Amnesty International India (AI India) and IIMA Alumni Association, Bangalore are proud to present a discussion on Broadening CSR: How businesses can promote human rights and business principles on Aug 29th 2015 at Royal Orchid, Old Airport Road, Next to KGA, Bangalore

Amnesty International India (AI India) and IIMA Alumni Association, Bangalore are proud to present a discussion on Broadening CSR: How businesses can promote human rights and business principles on Aug 29th 2015 at Royal Orchid, Old Airport Road, Next to KGA, Bangalore
The Companies Act 2013 had introduced a new provision requiring companies meeting certain parameters to invest in and promote Corporate Social Responsibility. Simultaneously the Act had also tightened the provisions for Corporate Governance and Internal Controls in running a business. Other regulatory bodies have followed in tandem: The top 100 listed businesses in India have been mandated by the Securities and Exchange Board of India to include ‘Business Responsibility Reports’ as part of their annual reports in line with the National Voluntary Guidelines for Social, Environmental and Economic Responsibilities of Business (NVGs) issued by the Ministry of Corporate Affairs in 2011. Following these measures, there has been a general trend in increasing focus on CSR with a reported spend of about Rs 7000-8000 Crores in the first year of operation (2014-15) of the provision. We hope that this companies will go further in thinking beyond bottom lines towards sustainable development and triple bottom line approach as is becoming the norm in the Global Reporting Initiative of G4. India presently has 17.5 % of the world’s population contributing to just about 3 % of the world’s GDP and is set to become the 3rd largest economy by 2030 ( it is already the 3rd largest in terms of PPP) and the world’s most populous country in 2022 ( with the world’s largest workforce). A new development structure with an inclusive growth is an imperative and the need of the hour: 
The IIMA Alumni Association, Bangalore had looked beyond the narrow Companies Act definition of CSR in our last workshop: we looked at how businesses could expand into socially inclusive initiatives within their own activities This workshop had a tremendous response and there was a felt need at its conclusion that there should be many more of this kind.
The current workshop once again looks beyond CSR as defined in the Act with a focus on ethics and corporate governance, drawing on the UN Guiding Principles on Business and Human Rights (BHR) that provides a roadmap of the actions that governments and businesses must take to prevent business-related human rights abuse and to provide effective remedy and justice. As India begins to implement an ambitious new plan to increase manufacturing and boost foreign investment, there is an urgent need to develop and implement adequate frameworks to address issues related to the responsibility of businesses to be socially responsible and respect human rights in their work

The workshop has been designed with the following sub themes: 

1) CSR and fundamental rights: How the concept of corporate social responsibility can encompass respect for human values in a company's operations

Conversations around corporate social responsibility usually center around how companies spend 2 per cent of their net profits on social work or charity. But business responsibility must go beyond what a company does with its profits to how it actually makes those profits too.

2) Human rights makes good business sense: Why respecting human rights can increase predictability, reduce litigation and delays, and enhance reputation

 Human rights and ease of business are often wrongly positioned as contrary objectives. However respect for human rights can have several benefits for companies, which can be linked to their profitability. 
3) Business integrity and due diligence: How companies can ensure that their operations show due respect for human values and enable good governance
Businesses can take several preventive steps to ensure that they do not contribute to corruption and human rights abuses, including by assessing actual and potential impacts, acting upon findings, tracking responses, and communicating how impacts are addressed.
4) Role of academia: What role can academia play in enabling companies to fulfill their rights and responsibilities?
What should a responsible business do to ensure that it does not commit, contribute to or benefit from human rights abuses? Little research exists on how questions like these can be answered, partly because of a lack of sustained rigorous examination of the intersection of business and human rights by academia.
The workshop will have some very illustrious speakers who have excelled in the areas of CSR / Academia and Business. Senior company representatives, CSR practitioners, social activists and academics are expected to attend the knowledge sharing and interactive workshop.
Who Should Attend?
1)     Middle and senior executives from Corporates who wish to understand more about Human Rights and the interplay with Business.
2)     Social activists engaged in the area of Human Rights , CSR and corporate governance
3)     Academicians interested in the area of Human Rights / CSR/corporate governance from a perspective of teaching and research
4)     Non Profit Organisations in these areas who would like to gain more understanding in the area and network with Corporates
1)     To introduce BHR and its need in organisations
2)     To look at BHR in the organisation (including the backward and forward linkages), the society and the environment

3)     To plan for possible strategic action in BHR and interweaving these actions with the CSR programmes

Amnesty International and the IIM Ahmedabad Alumni Association (Bangalore chapter) are jointly conducting a seminar on Broadening CSR: How businesses can promote human rights and business principles. The discussion, led by eminent speakers and activists, will be focused on how business can proactively promote the cause of respect of human rights as a part of their organizational CSR initiatives. The confirmed speakers/panelists apart from Prof Satish Deodar are: Prof Samuel Paul (former Director, IIMA), Prof Satish Deodar ( IIMA faculty and expert on CSR and sustainability ),V. Ravichander (an IIMA Alumni and Civil expert), Aaker Patel (columnist, writer and ED of Amnesty International, India) , Sudeep Chakravarthi (a leading commentator on Business & Human Rights) , Dr Hardeep Kaur,( an expert on BHR), Saeed Mirza,( noted filmmaker)  and K Jairaj ( former Addl Chief Secretary, Govt of Karnataka and Chairman BMS Institute of Technology & Management).”

Seminar date:  29th August 2015: 9.30 AM to 2.00 PM. Lunch and Networking after the Seminar.
Venue: Royal Orchid Hotel, Old Airport Road, Next to KGA, Bangalore
Cost: Early Bird Registration – INR 1500 (until 27th Aug 2015).
Event details and registration at:
 Contact - S.Viswanathan : OR Rupali Babu:
 Who should attend?
  1.  Senior and middle executives from corporates who wish to understand more about Human Rights and the interplay with Business.
  2. Executives and Management responsible for CSR initiatives of the organization