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Day 1/ Session
Thriving in today's economy
Ashit Panjwani, Executive Director -Marketing, Sales
& Alliances of SAS Institute (India) Pvt., Ltd., suggested ways to counter
the global challenges and thrive in the current economy
 Panjwani
opined that recent global incidents such as the collapse of Lehman Brothers,
the dollar fluctuation, oil price fluctuations, General Motors filing for bankruptcy
and many others have had an impact on domestic business.
He maintained that these incidents had resulted in increased unemployment, two
percent lower annualized growth, capitulation, contingent liquidity, liquidity
risk, compliance capital allocation, regulatory oversight, credit crisis and
so on, which called for a major overhaul of their assets as far as the CIOs
were concerned.
Given the challenges, Panjwani recommended that the attending CIOs drive ahead
with three parameters in mind, viz., innovate, optimize and transform. “The
thrust is on three areas as Peter Drucker says, which is to make the present
business effective, identify and realize the potential of the business, while
turning the present business into a different one for a different future,”
argued Panjwani.
The information explosion too has had its role in increasing the challenges
faced by CIOs who have to do more with less, adapt people and culture, while
giving a different perspective to the business.
Suggesting that business intelligence and business analytics tools are the answer
to such challenges, he said that these would assist CIOs in their efforts to
survive the tough economic situation while driving growth. Panjwani pointed
out that reporting, analytics and data integration, under a business analytics
framework, would help gain a better insight into customer business, understanding
pain points and so on.
The other way is to use tools that would help in the decision making process
at a reactive and proactive speed. The business benefits one could see is to
evolve optimization, predictive modeling, forecasting, do the statistical analysis.
The reporting business intelligence tool would address varied verticals such
as banking, retail, and manufacturing across functionalities. The critical ones,
Panjwani maintained, include risk management, customer retention, segmentation,
finance control under regulatory compliance and increased operational efficiency
for banking. The analytical tools could help the CIOs of manufacturing in improving
production and service, driving customer satisfaction, streamline supply and
demand, besides improving organizational planning and efficiency.
In the case of retail, the analytical tools would drive performance management
through RFID, dashboard creation and so on, help customers in getting market
analysis information, trends, behavior analysis and so on, optimize operational
initiatives in planning, budgeting, consolidation, besides helping retailers
in rolling effective merchandising strategy.
— N Geetha
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