A glimpse into the industrial visit to the Mother Dairy Plant!

 - KRITI BANSAL

On the cold winter morning of 10 January 2015, braving the chills, a bunch of 33 fervent students of Shaheed Sukhdev College of Business Studies, assembled in the college premises at 9 A.M. for the fantastic opportunity to visit the industrial plant of Mother Dairy in Patparganj. The visit was organised by Management Interaction Cell, SSCBS. It was truly a unique learning experience for all of the lucky students who got the opportunity to accompany the MIC team for this visit.

The students were accompanied by Ms. Gurjeet Kaur and the journey commenced with a half an hour bus ride to reach the plant in Patparganj. The very first impression about the plant was immensely favorable. The entire unit was clean and well maintained. First, we were taken to a conference hall where the tour conductor, conducted a brief and informative interactive session. She lucidly outlined the history of Mother Dairy and how it was established under the Operation Flood- 1 in 1974. She also explained in detail about how milk is first collected, transported, the 23 quality control tests that it undergoes, how it is clarified, pasteurized, homogenized, standardized and finally delivered in the markets for consumption by the ultimate consumers. The students interacted with the coordinator, actively participated in the session and asked many questions to clarify their doubts. The coordinator encouraged and appreciated them for this. Various facts about the production capacity and sales volumes of the plant were also discussed. Further, we were shown a small documentary film of the Mother Dairy plant depicting the process of milk production.

After this, the coordinator took us on a round around the plant premises showing us the various automated equipment, processors, filters and the huge tanks and silos required in the entire milk producing process. The quality control tests, for checking the presence of urea and soda in milk, which the coordinator practically demonstrated were the most outstanding feature of the visit which made it a fascinating experience for all of us. The entire plant was automated and computerized which ensured the hygiene standards required for milk processing. Once we had a first-hand exposure to the various processes, we were served flavored milk and ice cream.

Knowledge and fun were the ingredients of the day. On the whole, it was a truly enriching experience where we got to learn and understand actual work environments. The visit gave a different dimension to our learning and a glimpse into the real business world.

Team MIC thanks all the students who are always so keen to be a part of such visits and we at MIC, will keep on organizing more visits for all those who could not be a part this time.

THE THOUGHTFUL LEARNER

- ANUSHKA NEGI

Our mind goes into the ‘sleep-mode’ or rather the ‘indifferent-mode’ whenever the topic, learning is brought up. The ‘learning by thinking’ concept might seem to be a very recent and a rare one; but in verity it is being practiced by one-and-all. Let us all rewind a bit and go back to 29^th September,’14, to Narendra Modi’s compelling and striking speech. How many of us replayed the speech in our minds again-and-again and planned (at least) to participate in any one of the cleanliness campaigns around the city? Is this awakening not learning? It certainly is.

The difference between the terms thinking and reflection is that the latter has a sense of judgment (though we often use them interchangeably). Where thinking can happen anytime, reflection only happens after something done, said or thought.

Does reflecting upon one’s performance help in improving it? Yes it certainly does. Speaking of a professional environment, reflecting upon your day’s performance, evaluating it, finding the loopholes in it and devising a newer and a better plan of action evidently helps. This does not apply only to the working class. It holds an equal importance in the life of students.

In today’s times, studying and playing are not the only elements in a college- or a school-goer’s life. Where on one hand they try to be actively involved in the extra-curricular activities in their respective colleges or schools, on the other they also try catching up with the latest episode of Sherlock or Modern Family (or Game of Thrones). The minds of the youth are more occupied than ever before. There is so much to do, and they want to do it all. This leaves a very little or rather no scope for any kind from introspection or reflection.

Here are some useful tips which will certainly help you to reflect more -

Ø  Read More – It is a well known and appreciated fact that reading helps in rejuvenation and provides food for thought. But two things. Firstly, reading anything does not help much. Try something which will satisfy the intellectual you. Secondly and most importantly, reading alone is not sufficient; try reflecting upon what you have read. Though it sounds very clichéd, try learning something from each book that you pick. George Bush has rightly said, “Reading is the basics for all learning.”

Ø  Be Optimistic – Your optimistic mind and thoughts (the positive ones) help each other. Where optimism facilitates positive thoughts, a better thought structure leads to optimism. Optimism in thoughts helps in introspecting and reflecting better, as in we are able to point out our mistakes (on the professional and mental front) and try to correct them. This helps in improving our performance the next time we try our hand at the same activity.

Ø  Do What You Like – Studying engineering when you are a born photographer or studying finance when you want to be an actor (all of us are 3 Idiots fans) is quite pointless and worthless. Doing what you really love rejuvenates and brightens your thoughts. You end up planning all day how to go about your particular field, thinking of new innovations, and have your own perfect ideals from the particular field. I’ll take my example: I am a business studies student and took it up because I really wanted to. Off late, I have been making plans (and that is all I do) about having my own start up. I’d like to quote Mr. Ranchhoddas,” kya hota agar Lata Mangeshkar ke papa use bolte ke tu fast bowler banja?”

Ø  Have Healthy Discussions – Having a healthy discussion (or a debate) with your peers always helps, provided it is something informative. Where a discussion regarding why a contestant in Bigg Boss has white and green hair would hardly benefit anyone; debating on what Boko Haram is doing or Bilawal Bhutto is saying will not only help in elevating your knowledge levels but also feed your mind with better topics to think of.

     Well the points listed above are not exhaustive (they can never be), one needs to devise their own methods of improving as a person and a professional. Where learning from thinking is quite elementary, improving performance through reflection and introspection is difficult.

      And as Confucius, the Chinese philosopher has rightly said, “Learning without thought is labor lost, thought without learning is perilous.”

UNFOLDING SUCCESS BY BUILDING STRONG TEAMS

- JELLYBEAN SINGH

"I am a member of a team, and I rely on the team, I defer to it and sacrifice for it, because the team, not the individual, is the ultimate champion." This was aptly quoted by Mia Hamm which directly reveals the motive of why effective team building is required. 

An individual alone cannot lead the team to the path of success. No matter how talented the individuals in a staff may be, unless they function together efficiently, they will not be able to achieve the required level of performance. It takes a great deal of coordination and cooperation on behalf of the entire team to be able to reach the zenith of success. It is quite evident in today's scenario that a workplace is often an area of conflict among individuals. A conflict arises when there is a clash of incompatible interests between workplace participants. In every organisation whatsoever, people work in teams that have either a leader or a self-driven team member to lead. While these teams are the building blocks in the office environment and are used to improve the operations and results, they are also a source of grave competition. It is this team building scenario that is often seen and noted to promote the productivity of the employees as well as the organization.

Team Building is a source of motivation for the employees wherein groups of workers communicate through a series of planned events that are fun and motivational. These events can be used to determine strengths in an individual’s personality, such as leadership skills which can benefit the individuals by giving them greater job satisfaction and the opportunity to realize their full potential. This is a circle of reward, with positive feedback following positive action; a far more efficient way to have efficient workers. Job satisfaction is an important part of a person's work-life. Feeling worthy, part of a team & having a sense of achievement within the work environment are essential elements to happiness. These feelings can motivate the workforce and ensure that their work is the most productive. Working on the premise that satisfied employees yield more productivity, companies often find that team-building events positively affect the outlook and results of individuals, teams and the company as a whole. Team building also serves to identify and utilize the strengths of team members thereby increasing team productivity. When people who rarely work together meet on a common platform to communicate, they might discover that they enjoy the interaction and continue bond with different people back at the office. Those who previously may not have been getting along will have to forget their differences in order to overcome an impediment purposely designed for the same which would possibly diminish their dislike as they work together for a common goal.

Management plays an important role in team building as well. No group of people will become a team without the commitment and support of executives and managers. The result is greater satisfaction for the employees and improved performance for the company.

5 things a manager can do to build a team effectively are:

Play to Individual Strengths

Encourage Transparency

Establish Ground Rules

Let Them Know You Stand By Them

Provide an Incentive

Hence, the aspect of team building should be taken into account by every organisation. After all, creating a team means bringing together people with different skill sets and varied personalities to work towards a common goal--a complex undertaking.

________________________________________________________________________________

SANTA CLAUS- The Super MANager

Vaishali Sethi

Ever wondered how our dear old Santa Claus manages to give gifts to so many children across the world, without any delay and without any mistake? … Yes he MANAGES it. What makes Santa one of the best known managers of the world?

Just sit back and recall the little rhymes and X’mas songs learnt at school, after all its Christmas time.

1. Rudolph the red nose reindeer …. Santa knows how to get work done through people. He, like a prudent employer, keenly observes all his employees and understands whom to contact and deploy and for what work. This is absolutely necessary in the corporate world where competitiveness is the buzzword and one has to have the right persons at the right work. Santa knew that Rudolph with his bright and shiny nose would be best fit for the foggy night, so he chose him.

2. Rudolph with your nose so bright, won’t you drive my sleigh tonight… Choosing Rudolph was a decision with not just one but many reasons! It is known that his red shiny nose had made him a kind of social outcast and it was Santa who brought him back to the mainstream. He knows how to keep his workforce happy and contented. A manager has to understand that he cannot achieve the business aims all alone; he has to assign work to his sub-ordinates. An ideal manager makes his people feel important and wanted. …You would go down in history… He knows that his success lies in success of his employees and he ensures that his team members are recognized and are successful.

3. Ever heard of Santa missing deadlines, reaching children even one day late? Ever heard of any child ever meeting Santa just because he was late and the child was already up by then? The obvious answer is NO. Punctuality is Santa’s priority and it is this punctuality that he is a favourite among kids. The Santa charm ceases to fade away. If all managers meet their target deadlines and complete their tasks with extreme precaution, well, a lot of management theories will find their place in the trash!

4. He’s making a list and checking it twice… If someone makes a to-do list, checks it twice and adds point 3 to it, well, I suppose, it just does all the work. There has to be extreme accuracy when we do our work. Planning is the first and the most important step in management. The manager must have his goal well within sight and he must have a strategy, he must know the appropriate tasks that he has to undertake to achieve the set goals. This management skill can also teach us a lot about compiling and reviewing data, removing redundancies and duplicities. ‘Checking it twice’ part can help eliminate most of the unwanted mistakes that might have crept in.

5. He wants to know who’s naughty or nice… Well, an able manager must know the good, the bad and the ugly truth of their customers and suppliers. So does Santa. He has to treat the naughty and the nice ones differently. Serving both on the same platter may end up being unfair to the nice ones. Basic management seeks to differentiate between the good and the bad. Good or the Theory Y subordinate/ workers/ employees must be given better treatment because they deserve it and keeping them in good humour will only benefit the organization in the long run. Non-performers or reluctant workers or simply put, the Theory X employees must be dealt very differently.


6. You better watch out, you better not shout, you better not cry, I'm telling you why…


Santa Claus is coming to town!! .. Dependability. Extreme dependability. The simple surety that Santa will come, come on time and that once he comes, all would be good makes Santa the most dependable and by far the best loved person in the world. Imagine parents luring the kids to sleep and then understanding that there is no Santa around. Horrifying! Wouldn’t it be? Meeting deadlines keeps customers confident in our ability to service them, and keeps their customer experience a positive one. Santa might give big business houses with their flamboyant 6 Sigma or 9 Sigma approaches a run for their money.


7. The concept of Sante di Gaddi… Go to Punjab and you might find a SANTA SINGH with a turban instead of the conventional Santa cap. A Santa from Tamil Nadu may be seen wearing a dhoti in place of the red pant! Even in places like India with predominantly non-Christian population and extreme regional variations, Santa Clause has found his way into every child’s lexicon. The key word here is adaptability. Think global. Act local. Our good old Santa has the ability to adapt himself to all the cultures and specifications that are desired of him. Have you ever imagined Santa speak Spanish or Hebrew with a little child from rural interiors of India? Do you think he will speak Marathi with people of Argentina? What if businesses make such mistakes? Will they survive?


8 The big kind smile… Honestly, I do not know anyone who associates gloom with Santa. He is the cheerful old father figure, always there as a symbol of benevolence. His is a perfect tale of service with a smile. He has been up on his work since times immemorial and still handles it with perfect ease and dexterity. A happy boss will lead to a happy workforce, and thus a happy organization. The customers will be happy and so will the results, earnings and profits be.


9 He knows all the customers and their needs – Santa knows where the kids have hung their socks. He knows what they want. Have you ever seen Santa gift a pink pair of bellies to a teenage boy? Ever seen Santa give Khushwant Singh books to a new born baby? Well that’s why we all love Santa. He is not like the organizations which produce products and then force the customers to adapt to the new products. Anticipating and fulfilling customers need is very imp for success of a business enterprise, especially in today’s scenario when the consumers prefer individuality. It is an era of customization. A happy customer is the biggest asset that any organization can ever have.


10 No complaints… only good work.. Santa never complains, falters in duty or gets tired of it. The good work speaks for itself. The work is worship. And thus Santa is revered. Best of managers not only supervise, they are hardworking people themselves. Work when done with a positive attitude ceases to be mere work, but becomes a source of joy, happiness and fulfillment.


With these little tips laced with delight and seasoned with warmth, I wish you all a very Merry Christmas.



May the lord bless us all with management skills like our very own Santa Claus…!!

Promethean. Not just the box, Think outside this dimension.

Promethean. Making faces, yet? No? Yes?

Well, if you did, then rest assured, you are not the only one.

Promethean, as the dictionary says, means a person who resembles Prometheus in thought and action. Now we come to the question who or what is Prometheus?

Prometheus was a Greek God who created man from clay. The name Prometheus is derived from the Greek pro (before) + manthano (intelligence) and the agent suffix -eus, thus meaning "Forethinker". He, however stood for more than just that. He stood for creativity, passion – he stood for change. Change in the existing line of thought - in thinking in a completely new dimension – in being dynamic. According to Greek legends, he himself created mankind.

But, what does all of this has to do with Management?

Mr. Prometheus might not have known much about Management, but the qualities he exuded sure did. Prometheus was and still is the epitome of management. A perfect example of the qualities required by an able manager – he had quick wit, was wise and most importantly he had foresight of the repercussions his decisions will cause in the future. Management has changed from the skill of keeping power to oneself to the skill of empowering others. That is what Prometheus exhibits, he gave mankind the power to alter their own destiny and fate. Management requires innovative problem solving, that is what Prometheus exhibited when he created man on Zeus’s order of repopulating the Earth.

To be a Promethean is to be boldly creative and defiantly original. Ingenuity – that is the hallmark of a true promethean. If you think you are one, it is time to prove it in our event “Promethean”.

After attending so many orientations, going through many nerve wrecking rounds of group discussions and interviews, we have got a fun yet informative event for you all which is going to force you to rack your brains while at the same time enjoy and break free from all the tensions of societies and academics. We are bringing forth the legacy of MIC. Join us in our journey to recreate the power of originality and creativity. Join us on this exhilarating ride and most important of all join us and Enjoy.

CHIT FUNDS explained...

-Vaishali Sethi

A Chit fund is a kind of savings scheme practiced in India. They are savings plans conducted by a group of people who contribute to the fund and thereby benefit from it. So, simply put, chit funds are just like the ‘kitty parties’ that women organize at their homes. They collect some amount of money every month and the entire amount goes to one person each month. This continues till each person has got an opportunity to keep (and use) the amount atleast once.

The Chit Funds Act, 1982 governs the functioning of Chit funds in India. According to Section 2(b) of the Chit Fund Act, 1982, "Chit means a transaction whether called chit, chit fund, chitty, kuri or by any other name by or under which a person enters into an agreement with a specified of persons that every one of them shall subscribe a certain sum of money (or a certain quantity of grain instead) by way of periodical installments over a definite period and that each such subscriber shall, in his turn, as determined by lot or by auction or by tender or in such other manner as may be specified in the chit agreement, be entitled to the prize amount".

People who contribute to the chit funds are called subscribers.  The person or company who organizes and manages the fund is called the Foreman. Foreman has to be a subscriber also. He/She/The company  just receives a small fees for the services that they have provided.

The chit funds system basically works in this way. A small group of people get together for mutual savings and loan requirements. All the members pool in their money. (Usually the maximum amount to be contributed is fixed). Then there can be a draw of lots every month regarding who shall be pocketing the money during the month. Later on this member is expected to keep taking part in the savings process, but he/she will not get the money again. Normally, the duration of the chit funds scheme is the number of months as the number of members.

For those with no credit background, those with an unstable collateral base, it is a simple and self-help way to organize funds during crises or as and when need arises and also, as a saving scheme during normal and stable times. So, chit funds are just another, but if implemented properly, then excellent microfinance instruments. It has the capability of pulling people out of years of debt and drudgery.

But hardly anything in this world comes without a disclaimer. For so many successful chit funds that go unsung and unpraised, there are some people who con others by talking them into fake chit funds and thus robbing them of their hard earned money. So, never miss the word of caution!

MANAGEMENT LESSONS FROM MY MOM’S KITCHEN

- Vaishali Sethi

Being an Indian make me a part of the culture where the kitchen is the most happening place in the house. It is one place where some work is usually happening at almost all times during the day. 

Kitchen work generally forms the most important engagement of the home makers and provides employment as well, be it to the lady who comes to clean the dishes or be it the cook or others in similar professions. 

Here are a few very striking pointers I came across while my hanging around outside the kitchen at home:

Ü One must have the right knowledge of the task undertaken. 

      Imagine a cook who has no knowledge of what is to be cooked and how. All we can expect from such a person is to come up with either a brilliant new invention (rarely so) or just some disastrous, inedible attempted replication of some existing recipe. Remember the age old joke of people having discovered sugar in place of salt and vice versa in the dishes they were eating? Imperfect knowledge can only, most likely, lead to a catastrophe and be extremely bad and harmful for life in general.

Ü Right ingredients in the right quantity and at the right time. 

     All of us are well aware of what might happen if the ingredients of a dish were not added in the right quantity and proportion. We might just end up having a turmeric and pepper laced ‘halwa’ too sugary or chapatti smeared with peanut butter. Yuck! In real life also, it is of significant importance that we add the right components in perfect or near perfect proportions to get the desired results.

Ü It is all about group work. 

      We must assess our abilities well in advance and work accordingly. Just as a single grain of rice or a single gram seed cannot make an entire meal, it is possible that we are a part of a task that we cannot humanly bring about alone. Here comes the importance of team work. A bowl full of rice grains can definitely make a decent meal. A lot many of the tasks which cannot be accomplished alone can be, by a group.

Ü Ghee-Makhan Laga ke. 

     Have you ever seen how nasty it smells when the butter at home is boiled to make Ghee? Butter is tasty, but Ghee has its own place of pride. It is one thing that is used in the pious rituals like hawans, is a symbol of prosperity and affluence, and, no doubt, makes the food super tasty. Is this not due to the tough transformation it has to go through. Rephrasing the age old proverb, ‘Test of heat makes fine ghee’!

Ü Difficulties mustn’t enslave us. 

      It is the difficult time that makes a man what he is. Tasting is fine, but can we actually eat the raw batter of a cake? Not even 1 spoonful, I can bet on it. When the eggs are beaten, and added to a number of other things and the whole thing is made to shift bowls and finally made to endure the hardship of 180^o C of the oven, what come out is the sweet smelling cake. The rising of the batter is a sign of triumph over all the difficulties that all the ingredients have had to face in their run to be the cake. None of the ingredients has its original entity intact now, but the awesome unified mass is what makes all of them the equal kings.

Ü Flexibility is the key. 

     Rigidity is the aspect that can sure bring upon the downfall of even the mightiest. Those who wish to survive in the long run must inculcate flexibility. Just as a whole big bottle gourd or a big round pumpkin cannot be cooked and eaten as a whole and have to be cut into smaller pieces, it is of paramount importance, that at times we must be willing to let go of our pride and rigidity to accomplish great goals of life.

(The article was published in a local newspaper, THE MAYUR INFOMAIL, MAY 1-15, 2013)

CONFLUENCE'13

CROSS COUNTRY RACE

Management Interaction Cell is organizing a Cross Country race along with FICCI CASCADE to spread awareness about smuggling and counterfeiting on 2^nd March 2013, at North Campus.

“Run the first mile with your legs, the second with your mind, and the third, with your heart.”

The wind blowing against your face. The thud-thud as your running shoes hit the road. The occasional grunt. The exhilaration, as you see the world rushing past you. The sweat, the exhaustion, the joy. Yes, the “joy of running”. The very act of thinking about this physical activity summons such powerful imagery to mind.

Running not only helps you to keep those extra kilos away, but is also proven to keep your grey cells healthy.

PARTICIPANT SAFETY

1.       The use of wheeled devices by participants or any other person will not be permitted.

2.       Participants are responsible for their recognition and understanding of event signage, symbols and colour relating to participant maps, facilities and direction.

3.       Participants must retire at once from race if ordered to do so by a member of the event’s official staff or any governmental authority, including fire and police officers.

4.       Participants are responsible and assume liability for any and all medical expenses incurred as a result of training for and/or participation in the event.

5.       Event officials reserve the right to delay, cancel, or suspend the race due to inclement weather in accordance with Emergency Protocol on severe emergencies and/or inclement weather.

So what are you waiting for? Put on your running shoes. Run for a cause, run for yourself! Run against the devils of smuggling and counterfeiting.

Register yourself and everybody here

*The cash prizes for the event will be given away at CONFLUENCE'13, at Patel Chest Institute Auditorium on 4th of March, 2013.

Against counterfeiting and Smuggling - for a safer India

Run Against counterfeiting and Smuggling ; run for a safer India

In the recent past India’s economic growth story has attracted world’s attention bringing new challenges for the domestic economy. One of the challenges currently faced is the growing illicit trade in counterfeits, pass offs and smuggled goods. Counterfeits, pass offs and smuggled goods are threatening brands not only in every region of the country but is widespread in the world. Contraband and counterfeit product manufacturers hurt the integrity of the brand and further dilute the brand owner’s reputation. This not only results in erosion of sales of the legitimate product by further [CASACADE]s onto affect the consumers in the form of health and safety hazards.

With the above insight the Federation of Indian Chambers of Commerce and Industry (FICCI) took the initiative to dedicate a forum by establishing the Committee on Anti-Smuggling and Counterfeiting Activities Destroying Economy - C A S C A D E a dedicated forum for addressing the issue

AIMS

• Generating awareness on the hazardous impact of smuggled, contraband and counterfeit products amongst Consumers and citizens
• Capacity building of law enforcement agencies including Judges, Police and Customs Officers
• Research and proposing law reforms
• Interactions with the law enforcement authorities to emphasize on the importance of continued awareness and seriousness of the impact of counterfeit goods
• Enforcement of IP related laws
• Systematic dissemination of enforcement techniques, procedure and strategy through regular workshops for the guidance of its members 
• Sharing the best practices followed globally for combating contraband, smuggled and counterfeit product
• Provide knowledge support to the industry members 

Counterfeit means to imitate something. Counterfeit products are fake replicas of the real products. Such products are often produced with the intent to take advantage of the superior quality and /or value of the imitated products. Smuggling means bringing in or taking out of goods from one region to another in violation of the prevalent law of that region. There are various motivations to smuggle and counterfeit products. The unscrupulous people who wish to earn easy money enter the supply chain and disrupt the same by participating in illegal trade, such as in the selling of fake life saving drug trade, supplying counterfeit or fake hardware, CDS etc

The North East:

The North East India comprises of eight contiguous states of highly undulating hilly terrains, covering 263,179 sq km which is about 8% of the total geographical area of the country. The region is one of the landlocked regions of South Asia. About 4500 km i.e. 98% of its border is with five different countries of South Asia–Nepal, Bhutan, China, Myanmar and Bangladesh. No other region of the Indian union share common border with so many different countries connecting with the heartland through the tenuous 22 km Siliguri corridor.

The Main Problem: 

The lack of connectivity and access to market, the main causes for underutilization of resources and weak resource-industry linkages, have badly affected the economy of the region. Borders of the region have been left for transit corridors for illegal trade. Like the other regions of the country counterfeiting is also a major problem in North East India adversely affects the economy. What adds to the problem is the easy availability of counterfeit products across the border and the fact that the illegal immigrants are forced into counterfeit distribution by the migrant smugglers. Main products that are counterfeited in the North east are pharmaceuticals, FMCG, cosmetics, software, garments and tobacco. Fake drugs are sourced from Burma, Bangladesh and are sent by suppliers to north east. Cough syrups and other over-the-counter medicines are easily available in form of counterfeits. Lack of proper awareness and knowledge make way for pirated CDs and software. There are researches conducted by international bodies like The International Consortium of Investigative Journalists which show that the money generated by this smuggling is used to carter to the needs of the terrorist organizations like Al- Qaeda and it has been concluded that cigarette smuggling has provided the bulk of financing for AQIM.

Hence as part of it s pan Indian awareness seminar and understanding the zeal of the youth of the nation FICCI CASCADE in collaboration with MIC, SSCBS, DU is organizing Confluence and a Cross Country Race. Thus the youth from all parts of the nation are invited to join us in the cause.

BIG DATA: A vision of tomorrow

by: Mayank Gaur

Every day, we create 2.5 quintillion bytes of data — so much that 90% of the data in the world today has been created in the last two years alone. This data comes from everywhere: sensors used to gather climate information, posts to social media sites, digital pictures and videos, purchase transaction records, and cell phone GPS signals to name a few. This data is called big data. The hot IT buzzword of 2012, big data has become viable as cost-effective approaches have emerged to tame the volume, velocity and variability of massive data. There are five broad ways in which using big data can create value. First, big data can unlock significant value by making information transparent and usable at much higher frequency. Second, as organizations create and store more transactional data in digital form, they can collect more accurate and detailed performance information on everything from product inventories to sick days, and therefore expose variability and boost performance. Leading companies are using data collection and analysis to conduct controlled experiments to make better management decisions; others are using data for basic low-frequency forecasting to high-frequency now casting to adjust their business levers just in time. Third, big data allows ever-narrower segmentation of customers and therefore much more precisely tailored products or services. Fourth, sophisticated analytics can substantially improve decision-making. Finally, big data can be used to improve the development of the next generation of products and services. For instance, manufacturers are using data obtained from sensors embedded in products to create innovative after-sales service offerings such as proactive maintenance (preventive measures that take place before a failure occurs or is even noticed). The past decade’s successful web startups are prime examples of big data used as an enabler of new products and services. For example, by combining a large number of signals from a user’s actions and those of their friends, Facebook has been able to craft a highly personalized user experience and create a new kind of advertising business. Facebook handles 40 billion photos from its user base. Walmart handles more than 1 million customer transactions every hour, which is imported into databases estimated to contain more than 2.5 petabytes of data — the equivalent of 167 times the information contained in all the books in the US Library of Congress. It’s no coincidence that the lion’s share of ideas and tools underpinning big data have emerged from Google, Yahoo, Amazon and Facebook.

 

Big data spans four dimensions: Volume, Velocity, Variety, and Veracity.

Volume: Enterprises are awash with ever-growing data of all types, easily amassing terabytes—even petabytes—of information.

• Turn 12 terabytes of Tweets created each day into improved product sentiment analysis
• Convert 350 billion annual meter readings to better predict power consumption

Velocity: Sometimes 2 minutes is too late. For time-sensitive processes such as catching fraud, big data must be used as it streams into your enterprise in order to maximize its value. 

• Scrutinize 5 million trade events created each day to identify potential fraud 
• Analyze 500 million daily call detail records in real-time to predict customer churn faster

Variety: Big data is any type of data - structured and unstructured data such as text, sensor data, audio, video, click streams, log files and more. New insights are found when analyzing these data types together

• Monitor 100’s of live video feeds from surveillance cameras to target points of interest
• Exploit the 80% data growth in images, video and documents to improve customer satisfaction

Veracity: 1 in 3 business leaders don’t trust the information they use to make decisions. How can you act upon information if you don’t trust it? Establishing trust in big data presents a huge challenge as the variety and number of sources grows.

 

 

Big Data in India’s Scenario-

• Indians are large users of facebook, you tube, internet, twitter etc. In addition, Indian companies generate a lot of data. Clubbing internal data and public data can help Indian organizations fine tune their marketing strategies.
• India has the second largest population in the world. The census can be anlaysed through technologies used in analysing big data. Even aadhaar has unique compute and data challenges that exhibits all characteristics of Big Data – Volume, variety and Velocity. The challenge is to derive value from these attributes.
• One of the biggest sectors to gain from big data will be medical research sector.
• Since India’s IT sector is growing leaps and bounds, Big Data is an opportunity for all IT firms in India.

 

But there are several issues needs to be addressed to capture the full potential of big data. Policies related to privacy, security, intellectual property, and even liability will need to be addressed in a big data world. Organizations need not only to put the right talent and technology in place but also structure workflows and incentives to optimize the use of big data. Access to data is critical—companies will increasingly need to integrate information from multiple data sources, often from third parties, and the incentives have to be in place to enable this. 

 

WELCOME

Welcome to a brand new world!!!

This is a special occasion. Our first blog post for the academic session 2012-13, and today we are celebrating Janmashtami, the birthday of the beloved Hindu God, Sri Krishna. Definitely an auspicious day!

This new beginning opens before us a whole new gateway to ambit-less opportunities, a world of new hopes and aspirations. At this point, we are compelled to look back at the well-lived yesterday and manage our today for a bright and beautiful tomorrow. Our actions and decisions of today shall decide the course our lives take tomorrow. 

"One can become whatever one wants to be, if one constantly contemplates on the object of desire with faith." So, said Sri Krishna, the wisest of all. As we strive to achieve the new heights for our aims - as individuals, as students and as members of humanity, we mustn't let doubts cloud our vision, nor must we allow ourselves to forget our learnings from the glorious past. 

On this momentous occasion, when we are at the threshold of re-defining ourselves, our actions, our academic pasts and our achievements as TEAM - Management Interaction Cell (MIC), we thank all those who have ever had a role in making us what we are and what MIC as a society is and has been.

At the close, instead of the customary good-byes, it is indeed time once again for a 'welcome', for it is just the beginning!!

CONFLUENCE'12

         Confluence'12

Prizes worth 50,000 to be won!!

@ VALLABHBHAI PATEL (VP) CHEST INSTITUTE AUDITORIUM,

NORTH CAMPUS, UNIVERSITY OF DELHI

22nd FEBRUARY, 2012

9:00 AM onwards

Confluence the annual flagship event of Management Interaction Cell, SSCBS is back. This time larger, better and with loads of promises. So gear up.. ‘coz this time it will test your general knowledge, management abilities and of course your luck!!

Events planned for the day:

Ø      MANAGEMENT GAMES:

·    BRANDITS

And they said it is past its prime. But is it? What if YOU were supposed to re-market the things long forgotten? Maybe the brand is still a king, just that something, somewhere went wrong? BRANDITS, a case study that is sure to make your brain somersault

·    SPIN SIN

Spinning the wheel was never so easy. Spinning the wheel was never so hard. Discover the confluence of luck and managerial skills in your life. Spin the wheel of your destiny at SPIN SIN

·    BID 2 WIN

Ever sat through an auction and fantasized yourself participating in it? Ever had the IPL auction make your imagination fly wild? Well, here’s your chance to take part in a real bidding game! Who knows, you might just get lucky!! BID 2 WIN… the name says it all!!

 ·    BUZZOLADD

With time fade memories, some but not all. Sometimes even the epic comes alive again. And so does BUZZOLADD.  It’s back. Bigger. Better. Harder.

Ø      GUEST LECTURE:

In keeping with the tradition of MIC, we also have a guest lecture scheduled for the event. Eminent personalities from the industry will share their valuable experiences that will help you become better professoinal …..

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