Six students of the senior batch of the MYRA School of Business, Mysore, Mr. Ashutosh Kar, Ms. Sangitha Ajith, Mr. Nitish, Mr. Raghuveer Kodali, Ms. Srivalli and Mr. Mihir Ghosh have published an article entitled ‘A Heuristic Approach to Predictive Modeling, RFM Analysis’ in ‘Analytics India Magazine’ (AIM) — an online resource portal on Analytics and related fields, founded in 2012, that promotes ideas, thoughts and healthy discussions on Business Analytics from the Indian perspective.
The link for the article is http://analyticsindiamag.com/a-heuristic-approach-to-predictive-modeling-rfm-analysis/
The article highlights the role of Predictive Analytics in the Indian Telecommunication market — the team uses a simple model to show how the telecom companies segment the target customers using the RFM (Recency, Frequency and Monetary) Analysis. Without getting too technical about it, the team members explain that the basic premise of the analysis is that, the more recent purchasers of a specific data/voice plan, the more frequent purchasers and those who spend more on data/voice are more accepting of new plans launched by any telecom company. The data used in their analysis is a combination of usage data the company already possessed and data collected through surveys conducted by the team.
MYRA’s curriculum which has a strong focus on Analytics — the buzzword of business managers of tomorrow and beyond, helped students to learn and master this domain.
The Analytics team at MYRA is led by Dr. Abhinanda Sarkar, Associate Dean and Director of Research. Courses such as Marketing Analytics by MYRA’s Founding Dean Dr.Rajiv K Sinha; Supply Chain Analytics by Associate Dean, Dr. William Verdini and Dr. Mohan Gopalakrishnan of Arizona State University; Digital Interactive Marketing by Dr. Sandeep Krishnamurthy from Bothell School of Business, University of Washington;. Marketing Models by Prof. Sachin Gupta from Cornell University; Analytics in Business and Projects jointly taught by Dr. Purba Halady Rao, Former Professor Asian Institute of Management, Manila, and Prof. Satish Halady Rao, Former Director General, Asian Development Bank, Manila; and Data Analytics for Managers by Prof. Nagaraj Kulkarni, Director, Information Excellence, Compegence, Bangalore are interwoven into the curriculum.
These six known as MYRAcles — students of the MYRA School of Business, joined the 2-year AICTE approved Post Graduate Diploma in Management (PGDM) course in 2013. They are thankful to MYRA for letting them get associated with Dr. Purba Halady Rao and say this article would not have been possible, without Dr. Purba Rao’s express interest and supervision.
The authors of the article are graduating in May 2015 and have secured good placements. Mr. Ashutosh Kar as Assistant Manager, Marketing Research Department, Mr. Nitish as a Business Analyst — both in Magic 9, Media and Analytics Pvt Ltd,— a Mumbai-based Data Analytics company.
Mr. Mihir Ghosh has secured a Manager Sales at Bangalore based Nxt Gen Datacenter & Cloud Technologies Pvt. Ltd. at Mumbai.
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Myra School Of Business