#EditorSpeking
Prof. Kiran Kumar K V
Faculty – Finance, ISME
The capitalist global economy that we see
today has evolved over centuries. And every
milestone of such growth was driven by proofs.
Frederick Taylor had given proof that scientific
management can deliver better results than
traditions. Business world adopted scientific
management. Michael Porter’s proof that focus
on a competitive advantage creating strategy
can take the businesses to next level. Strategy
became the buzzword in top management
corridors. Japanese gave proof on how being
quality and cost conscious can actually create
value for customers. Businesses radicalised
themselves with the quality and cost models.
Then came the IT Enabled Processes including
automation, outsourcing, SCM, ERP and the likes.
Businesses were quicker to adopt.
And today we stand at the middle of all this,
where businesses operate in the complex
ecosystem, that demands organisations to set-
up processes that are IT enabled, scientifically
developed, strategically aligned and deliver
highest value to consumer through the optimum
cost and quality trade-off. Business Intelligence
is knocking the doors just in this milieu. BI is
not a proof in itself, instead it’s the output of
a number of factors – (1) Enormous amount of
data getting created every second, due to the
internet boom (2) Complexity and the magnitude
of such data (3) Potentially large benefits that
one can imagine (4) Increased inter-disciplinary
communication and (5) Simply, the innovations
in InfoTech.
Data Science is not a new field. When the
data science, that includes data mining, data
summarising and data warehousing is used for
prospecting for business opportunities, we call
it Business Intelligence. Data Science enables
businesses to be more predictive, proactive and
empirical, instead of being retrospective and
reactive. Data Science for Business Intelligence is
therefore the current milestone that the business
community of this planet is experiencing, and
will for sure change the way businesses operate.
DYNAMISM(E), therefore takes up Data Science
for Business Intelligence as the cover theme and
collates perspectives. We have Dr. Animesh from
Cambridge, UK writing on data and strategy
and Mr. Gururaj from HP, Bangalore suggesting
what-is-so-special about this field, that’s creating
such a ruckus in the traditional business model.
Dr. Shyam Prasad, Professor at ISME gives a
beginners perspective on Machine Learning and
Neural Network. Dr. Shampa Nandi, Professor
at ISME has given the broader context of data
analysis for a beginner
The passed on quarter was also the last term
of our PGDM batch 2015-17 batch. This issue
of DYNAMISM(E) also dedicates many of the
sections to bid adieu to the MOST DYNAMIC
batch, ISME has seen. Be ready to get surprised.
Other sections continue to feature.