Highlighting the importance of data analysis in today’s business world, Ketan Paithankar, said that its systematic use can take one’s business to the pinnacle of success. He advised the participants to use data analysis as a tool for business development. He was addressing the audience on the topic ‘Business Data Analysis’, organised by Vidarbha Management Association (VMA) at Chitanvis Centre, Civil Lines on Sunday. He further said that social media is an effective modern means of reaching out to millions of people. “So, you should make your product attractive by designing it in a highly creative way. Various social media platforms like Facebook, Instagram, Twitter can be used for advertising, promotion and even sales planning,” he said. Paithankar also spoke about his own business journey using data analysis for business development.

 

Paithankar said one can get information of anything he or she wants on the internet from the comfort of home. “There is no limit to searches on the internet. While searching, a person looks for his need, availability of the item, proximity to get it, reviews of people on it, etc. So, populations with specific needs can be identified from the search patterns,” he added.

 

“Today we are living in a digital era. From tea in the morning to dinner at night, we search for many things on the internet. While on one hand our needs are being met, on the other hand the information we are looking for is being analyzed. Customer’s likes and choices, habits and reactions are studied in data analysis,” he explained. Another speaker, Rishik Chourasia spoke about the ‘Pros and Cons of Franchise Model’. Also, the day began with a special Mentorship Session by Mukund Mohta on the topic ‘Communication Gaps, Effects and Strategies in Business’, which was conducted for a limited number of participants. VMA is a Nagpur-based organisation which meets every Sunday at 10:30 AM. It is dedicated to imparting learnings related to management and leadership skills to its members.