‘Do you know the difference between an Analyst, a Statistician and a Data scientist?’ was the simple yet thought-provoking question asked by Vijay Nair, Director Analytics at Lowe’s India while delivering a guest lecture as a part of Talk Analytics’19 at IIM Nagpur.
The session started with a case study on ‘Auto classification of products’ wherein the students learnt the importance of hierarchy in any search algorithm. The approach to solving this multi-stage classification problem using machine learning was explained in detail. Different optimization techniques being used across domains like Merchandizing, Supply chain, Store operations, Marketing and HR were also discussed. Toward the end, there was some enriching gyan for all Analytics enthusiasts about the importance of knowing one’s business and the art of storytelling to stay relevant in an organization.
We are really thankful to Mr Vijay Nair for such an interactive session coupled with cases which helped us gain a better understanding of the application of analytics in various sectors.