NEW YORK (TIP): Indian Business and Technology Opportunities organized a successful meeting of academics, professionals, entrepreneurs and potential investors in Big Data / Analytics at a meeting on May 31st in New York City. With predictions of $125 billion worldwide market for Big Data / Analytics, the Indian American entrepreneurs is strategically well placed to take a share of this market because of the large number of the community involved in maths and statistics, computer software development and other associated technologies such as data generation through internet of things.
The discussion forum was put together and moderated by Dr. Thomas Abraham, GOPIO Founder and President of Innovative Research and Products. “The Indian American community has a unique advantage because of our professional involved in applied sciences, engineering, IT and analytics, and we need to poll our resources to make advancement in this field,” said Dr. Abraham.
The program started with an overview on Big Data and Analytics opportunities in the US – India scene by Dr. Abraham Phillips, Analytics Consultant, Saber Cloud Solutions and Adjunct Professor, Rider University, NJ. “Big Data is bigger than Oil ! It is the new wealth!,” said Dr. Phillips.
Prof. Wullianallur “RP” Raghupathi, Fordham University and Sudsun Consulting, New York spoke on “Big Data Technology Innovation & Transfer; Big Data in Health Care.” The healthcare industry historically has generated large amounts of data, driven by record keeping, compliance & regulatory requirements and patient care.
“Big data analytics in healthcare is evolving into a promising field for providing insight from very large data sets and improving outcomes while reducing costs. Its potential is great; however there remain challenges to overcome,” Prof. Raghupathi said and concluded saying that “Let the data speak for itself.
Mr. Terrence Moduthagam, Director, Programmatic Strategy, Starcom MediaVest Group, Div. of Publicis Groupe, New York, spoke on “Big Data for Marketing/Advertising and Other Emerging Applications.” According to Mr. Moduthagam, the discussion forum explored new fields and opportunities in smart application of big data.
“Leveraging the community’s background and experience will help to surface further and even more disruptive ideas – the possibilities are limitless,” said Mr. Moduthagam. Mr. Prashant Prabhala, VP, Markets & Technology, BNY Mellon, New York covered “Big Data and Real-Time Analytics in Financial Industry.”
Prabhala said, “Big Data holds incredible potential and possibilities to help in a broad array of use-cases.”
Dr. Nethra Sambamoorthi, Lead Faculty Member for Masters in Predictive Analytics program, Northwestern University, Chicago, IL who spoke on “Innovations, Training, Industry Collaborations and Investments in the Age of Big Data and Internet of Things.”
“In India alone, we need to provide quality training for 250,000 data scientists, in the next five years, to serve India, and to fulfill India’s aspirations to serve the world,” said Dr. Sambamoorthi.
All speakers indicated the shortage of people in Big Data Analytics in the US and India and that if more people are trained in India, there are ample opportunities for them in India as well as in the US. In this regard, Dr. Sambamoorthi has started Institute of Analytics (USA) in New Jersey which will provide Executive Diploma in Business Analytics at the Layola Institute of Business Administration in Chennai with its enrollment starting this year.
The group decided to launch a networking group in Big Data / Analytics and will meet regularly and plans to organize a major conference in the Fall 2015.
For more information on the networking group, contact Dr. Thomas Abraham, innoresearch@gmail.com, or
Call 203-569-7909