The students of IIM Kashipur had the privilege of listening to the guest lecture by Mr. Hirak Kayal , the Vice President of Applications Outbound Product Management at Oracle India. His prime responsibility is to drive Applications success and particularly Fusion Application adoption in India. He holds a Mechanical Engineering degree from IIT Kharagpur and did his post-graduate studies in Business Management from IIM Calcutta.
The agenda of the seminar was to discuss the emerging trends in technology and introduce the students to the latest business reality of SMAC, an acronym for social media, mobile, analytics and cloud. The convergence of the said four is considered to be the next huge disruptor in business technology since the evolution of internet.
The paradigm shift from the ‘buying’ model to ‘subscription’ model and its impact on business was discussed. The rise of social media, with over 1 billion subscribers, offers a great opportunity for companies to market their product. Approximately 83% of the internet users can be found on social media. The emergence of Facebook, twitter and LinkedIn has led to more targeted and innovative methods of marketing. But it has also come with its own share of problems. A customer is connected virtually to a large network of people who are further connected to other networks. In such a scenario, the information flow is quick and any negative or positive comment about a company can reach far more number of people than earlier. A popular example of the ‘united breaks guitar’ was also talked about in the seminar to give an idea about the ramifications of this connectivity and the power of a single customer in current market.
The emergence of smart phones has also had an impact on industry. The seminar briefly touched upon the Bring Your Own Device (BYOD) policy followed in industry. With the continuously increasing subscribers of mobile, it is imperative for the industry to cater to customers through this channel efficiently. The emergence of social media and internet usage on mobile led to the collection of a large amount of data. This data, which was initially not utilised to the fullest, is now an input to analytics that transforms this data into useful information using powerful tools. Data about the history of a customer shopping pattern, to know his preferences, helps in providing a customized service.
The recent emergence of cloud computing is a game changer. The various services that are offered are software as a service, platform as a service and infrastructure as a service. The seminar also gave insight about the various models like private, public and hybrid cloud. The consumerization of cloud services was also explained to the students.