Pune: In order to meet the rising demand of business analysts in India, the Kirloskar Institute of Advanced Management Studies (KIAMS) will be introducing specialisation in ‘Entrepreneurship for Family Run Business’ and ‘Business analytics’.
The courses are part of a two-year full-time, residential postgraduate diploma in management which is AICTE-approved.
Atul Kirloskar, Chairman of the Kirloskar Group and Member of the Governing Council of KIAMS said that there has been a massive rise in digitisation, leading to a large amount of data generation.
“This large chunk of data has to be analysed for better decision making. For instance, we have some data coming from sensors about a machine which needs attention after working for 500 hours. So at the 490th hour we need to generate an action item to close the task and so we require data analytics,” Kirloskar further added.
Kirloskar also said that the Kirloskar family has successfully run businesses across multiple generations. “Now, this experience of ours would be utilised to nurture the upcoming generations of families who are already into business,” Kirloskar said.
Vice President of KIAMS, Amarshekhar Bhonagiri said, “Technology is changing the way we live and do business. Business intelligence and predictive intelligence is extracted from the data captured from every aspect of business activity and is used for decision making. The global data science market stands at $100 billion. In India it is about $2 billion annually.”
KIAMS has an industry coordination committee which helps for obtaining internship for students in the industry. Similarly, KIAMS has a tie-up with 20 companies to gain insights into data analytics. Programme Director - KIAMS, Pankaj Roygupta and Finance Head – KIAMS, Pradip Kopardekar were present on the occasion.
Bhonagiri said the Indian data science market is growing by 23.8 per cent compared to the 30 per cent of the global market. “Considering the growth, there is likely to be a great demand for skilled manpower in this segment.
According to a McKinsey report there is a shortfall of 1.9 lakh data scientists and 1.5 million data managers in the US alone. Thus, a specialisation for business analytics is the need of the hour and we wish to be the bridge for those who wish to grab this opportunity,” added Bhonagiri.
KIAMS was started in 1991 by the Kirloskar Group as an initiative of SL Kirloskar. The full-time management programmes started in 1998 at Harihar in Karnataka. The Pune campus (village Dhamane, taluka Maval) became operational in 2010. The programme offers specialisations in Finance, Marketing, HR, Operations, Business Analytics and Entrepreneurship for family-run business.