Speaker:   Mr. Gopal Jangir
Designation: Senior Consultant
Organization:  Ernst & Young Global Limited
Profile:   Mr. Gopal Jangir has over 5 years of industry experience in data analytics and continuous control monitoring. He is currently working as a Senior Consultant at Ernst & Young Global Limited. He has handled the identification of key risks and mitigating controls and gap analysis. He provided practical recommendations to improve and strengthen controls.
Date:  3rd April 2021 & 4th March 2021
Title:   Data-driven decision making
Details:    The session started with the guest introducing the topic for the guest lecture and explaining to the students how decisions should be derived from the data available and how it drives the decision-making process. He proposed a case study to begin with, which entailed the students to suggest their opinions on various situations proposed to them by sir. There were two case studies discussed on Day 1. The focus of the case study 1 discussion was to raise the point that decision-making without any data or evidence is not possible. Each decision that is taken relies heavily on some sort of evidence or data. The next case study involved the batch calculating the market share, and help the company make critical decisions regarding the increased cost of the outsourced production and if in-house production will be feasible with a two-year payback as well as a long-term solution for the next 5 years.
The session on Day 2 started by the guest asking the students to present their solutions to the two cases given on the previous day to understand the thought process as well as to explain how today’s world is data-driven and we need to analyze any given data, complete or as per the client understanding and provide valuable inputs about wherever optimization of resources and cost-saving is possible.  The batch had attempted the case study in teams and come up with different approaches based on different assumptions and payback period. Sir, then shared his solutions and insights of how in-house production is feasible considering long-term payback. Sir also shared insights from his own experiences and projects he was involved with to help the batch better understand the vast domain and real-life examples of client interviews, on-site review, critical decision making, and client presentations aided by visual charts. The batch responded with a lot of interest and put forth a lot of questions which Sir answered with his expertise.