5^th World Machine Learning and Deep Learning Congress

Biography

Biography: Niladri Shekhar Dutta

Abstract

With the advent of technology transformation in the fast-changing and ever-evolving world of Information, Communications and Technology (ICT), the importance of data is supreme. This is often being referred to as big data and is perhaps the single most entity which forms the backbone of any major transformation within any large global corporation across industries. Data is no longer being looked and used as a tactical medium for storage or operations; on the contrary, it becomes extremely strategic in nature. In fact, the 3 main pillars of today’s disruptive world of digital are driven by big data, IoT, and cloud. Out of which big data is the nucleus of transformation. In the world of digital, this is very well centered on three main life cycle entities. They are the customer, the product, and the revenue. Each of these, i.e. customer life cycle, product lifecycle and revenue life cycles behave very differently from one another. The practical emphases of data in each of these entities are also very different and unique. The concepts of big data within these 3 life cycles are core to the change we witness in the world of digital. Each data entity centered on these life cycles is instrumental in C-level decision making and major change management that happens within the organization. The data element acts as a central aspect to strategic decisions whether it comes to new product/service development or behavior of customer or user data, appreciation or acknowledgement of revenue. All use cases around big data will be largely centered on these and any specific case would be a secondary derivation of the above. With big data being so strategic in nature a large part of the focus has now shifted to data extraction and normalization to ensure meaningful information is extracted and utilized for business benefits by customers. Like the traditional mindset used to be, focus was largely around data operations and reporting. We will soon see a world where we cannot live without any form of data and in truest sense the phrase big data would essentially be big and superimposed in all aspects of our lives, right from our behavior, buying and consumption of products and services to distribution of our resources. The extraction and transformation of data for key benefits will be very much a business, as usual, thing, without which survival will become questionable within ICT industry, especially whilst looking at the concept of digital disruption. This article largely focuses on the key aspects of the same within the world of ICT and how a corporation is heavily dependent on such aspects for generation of its sales and management of its operations.