Data Analytics Experts Video Insights
Insights from Mrs. Roopali Joshi — Senior Vice President, Data and Risk Analytics at Citibank M.Tech, IIT Kanpur
Event Recap: Data Analytics Presentation by Mrs. Roopali Joshi, Senior Vice President, Citibank
On 24 Aug. 2024, Digital T Lab had the privilege of hosting an insightful session on Data Analytics, presented by Mrs. Roopali Joshi, Senior Vice President of Citibank. Mrs. Roopali Joshi, who completed her master’s from IIT Kanpur, shared her deep expertise on the subject, covering key trends and applications of data analytics in the banking sector and beyond.The event was meticulously organized by Digital T Lab, bringing together professionals and students interested in exploring the crucial role that data analytics plays in modern business decision-making. Mrs. Roopali Joshi’s presentation, titled "Introduction to Data Analytics," highlighted several essential aspects of the field.
Key Takeaways from Mrs. Roopali Joshi’s Presentation:
1. What is Data Analytics: she began by defining data analytics as the process of examining, transforming, and modelling data to support informed decision-making. She stressed that in today's data-driven world, analytics is a key tool for gaining a competitive edge, improving operational efficiency, and enhancing customer experiences.
2. Importance of Data Analytics in Business: According to Mam, businesses across all sectors are now leveraging data analytics to improve project planning, budgetary control, and strategic decision-making. She explained how businesses can use historical data to predict future trends and optimize their processes.
3. Steps in the Data Analytics Process: One of the focal points of the presentation was the systematic approach to data analytics. She explained the critical stages: from identifying the problem, collecting and cleaning data, applying analytical techniques, and drawing conclusions to support actionable insights.
4. Data Measurement Levels: Mrs. Roopali Joshi elaborated on the four levels of data measurement—nominal, ordinal, interval, and ratio scales—and their applications in various analytical models. This provided the attendees with a clearer understanding of how to handle different types of data for analysis.
5. Challenges in Data Analytics: Addressing the common pitfalls, she identified data quality, ethical considerations, and interpretation challenges as the major obstacles in data analytics. She emphasized the importance of ensuring accurate data to avoid misguided decisions.
6. Future of Data Analytics: Mam also touched on emerging trends, particularly the role of artificial intelligence (AI) and machine learning in advancing the field. She shared insights on how automation is transforming data analytics processes, enabling faster and more accurate decision-making.
7. Applications in Banking: One of the standout sections of Mrs. Joshi’s presentation was the use of data analytics in the banking sector. She illustrated how banks are utilizing data to improve customer segmentation, assess risks, detect fraud, and make data-driven decisions in real time.
8. Model Risk Management: Mam concluded with a discussion on model risk management in banking. She emphasized the importance of using accurate statistical models to avoid costly mistakes, citing examples from the 2008 financial crisis to underscore the need for rigorous risk assessment.
Organizing the Event
The event, organized by Digital T Lab, provided attendees with a unique opportunity to learn from one of the industry’s leading experts in data analytics. The presentation was well-structured and covered a broad range of topics relevant to both beginners and seasoned professionals. Mrs. Roopali Joshi’s ability to simplify complex topics made the session engaging and informative.The success of the event was further highlighted by the interactive Q&A session, where Mam answered numerous questions from the attendees, offering deeper insights into the practical applications of data analytics in various industries, particularly in finance.
