Monday, 7th September ’20
Good morning, Welcome to TMT Monday. We have been tracking the Corona cases rise closely and now the daily Corona cases in India are more than any other country on the planet. Accompanying this downturn, the Indian economy also crashed sending jitters on the markets. While the immediate economic future is uncertain, the market and economic recoveries always happen and history is evidence of the same. There is always a light at the end of the tunnel and that is true for every facet of life. We wish all the force on TMT readers.
Here is a quote to start your day,
There was never a night or a problem that could defeat sunrise or hope.
MIND MONK
Enrich your People-skills!
Once a multinational company, sent two of its very successful employees, Mania and Janine to its newly opened regional office in Libreville, Gabon. They were supposed to work in that regional office until their next international posting was announced. Each of them had been given a sum of $5000 for their technical upskilling during their Gabon stint. After reaching Gabon, Mania and Janine both started off to work. They were so immersed in their work that for months, they could not meet each other. This way a year passed away, and suddenly while shopping for their groceries in a mega-mart, both came across each other. Surprised as they were, they both decided to sit down in a near-by cafe and spend some time exchanging each other’s experiences at work.
Mania looked upset. She said that the deposit of $5000 had been exhausted due to multiple training courses that she had to apply for as her area is very competitive. She applied to the head-office for extra funding, yet the finance team has refused to cooperate. They said that amount was more than sufficient. She wanted to know if Janine had exhausted her funds too, as she knew Janine’s area was far more competitive than her. It was a shock to Mania when Janine replied that her funds were half-used and she had covered more courses than Mania had. Mania inquisitively asked Janine how she could do it. Janine smiled and replied, “I knew that if I enroll for all the courses, my funds will exhaust. Hence, I first enrolled in French learning classes, as the entire country speaks and works in French. After I was well-spoken in French, I asked my seniors and peers to give some of their time to teach me that technical expertise required in my post. Hence, I could complete many through peer help as they were happy to learn that I had learned their language to manage along with them.”
Friends, sometimes we don’t realize that people skills come before any technical skills. If you can make efforts to gel with the people around you, you can gain many technical skills from them. Make sure that before enriching your expertise, enrich yourself with connections and networks. It really helps!!
MARKETS
Markets: The markets fell sharply last Friday, tracking correction in global peers. Uncertainty in the loan collection from the Supreme Court added to the bearish sentiments for the banking and finance companies. This bearish trend could lead to more weakness in the near term.
TECHNOLOGY & INNOVATION
- FAU-G, an alternative to the Chinese game Pub-G is all set to release by October. FAU-G is made by nCore, a gaming startup based out of Bangalore. Interestingly, they have partnered with Akshay Kumar for the launch. One of the game’s stages is based out of Galwan valley.
- Lokalize, a Latvian startup for the translation and localization of games, apps and websites raises $6 million in funding. They offer a SaaS product that helps improve the workflow and processes required to update text in different languages.
WHAT ELSE IS COOKING
India witnessing sharp V-shaped recovery says finance ministry: India’s GDP contracted 23.9% year-on-year in the June quarter due to a stringent nationwide lockdown, but with easing of restrictions, the country is witnessing a ‘sharp V-shaped recovery’, the finance ministry said in its monthly economic review for August. The finance ministry also said it’s critical to reorient India’s policy towards a calibrated reconstruction of the economy, with specific attention on agrarian supply chains, factor markets, infrastructure, start-ups, financial inclusion, skilling, and health care.
Customs to roll out a pan-India faceless assessment for all imports by Oct 31: The Customs Department will roll out a pan-India faceless assessment for all imported goods by October 31, the Central Board of Indirect Taxes and Customs. Faceless assessment enables an assessing officer, who is physically located in a particular jurisdiction, to assess a Bill of Entry pertaining to imports made at a different Customs station, whenever such a Bill of Entry has been assigned to him through an automated system.
Covid-19 vaccination to realistically begin in mid-2021- WHO: While clinical trial results of the first successful COVID-19 vaccines are expected as early as the end of this year, vaccination of public will, realistically, only begin in the middle of 2021 after mass manufacturing of doses starts, World Health Organization Chief scientist Soumya Swaminathan said on Friday. As the initial supply will be limited, countries will have to prioritize who will be immunized with the first tranches of vaccines, she said.
BUSINESS LOUNGE
Wowing your snacks
A group of young kids thinking they are not good enough at numbers to do an MBA, started a business to satiate people’s hunger with an initial investment of Rs 30,000. From there the journey began in Kolkata and in 2019, this fast-food company raised money at a valuation of Rs 860 crore from Tiger Global management. This is the phenomenal success story of Wow! Momos.
Started by classmates Sagar Daryani and Binod Kumar Homagai, they began with selling steamed momos from their 6 by 6 kiosk in a Spencer in 2008. After good sales, Spencers granted then another location where they made around Rs 52000 in a month. Finally, when they added another mall, the sales increased to around Rs 9 lakh a month. Then there was no looking back.
Over the next two years, they opened their kiosks in various commercial locations including tech parks, malls, and hypermarkets across the city. Their R&D in momos helped them create their USP pan-fried momos and the moburg, a prospective burger replacement. They are currently present in around 15 locations in India. They have around 130 outlets and employed around 900 people in storefronts while another 700 in backend operations.
TMT VARSITY
Big Data Analytics
The process of collecting and processing larger amounts of unstructured raw data, retrieved from different sources, and then making this data for use for the business called Big Data Analytics.
The various stages in the Big Data Life Cycle
- Business Problem Definition: What are the expected gains and costs. Also defining the scope of the problem happens here.
- Research: Understanding what other companies have done in the same situation and what solutions can be implemented.
- Human Resources Assessment: Analysts and other human resources required in order to accomplish our business goals.
- Data Acquisition: Collecting the available unstructured data that needs to be worked on. Scraping is also a type of data collection technique.
- Data Munging: Converting the acquired data in the above step into an easily usable form and processing it.
- Data Storage: Storing the data in the SQL database or Hadoop File System for retrieving and doing analysis.
- Exploratory Data Analysis: Here the stored data is explored for the feasibility of the solution.
- Data Preparation for modeling and assessment: Here the retrieved data is prepared for modeling using statistical processing for missing values, outlier detection, feature extraction, etc.
- Modeling: here different statistical tools are used to solve the business problem. The best solution is used.
- Implementation: Here the solution is implemented in the data pipeline of the company. Once the model is implemented, it is evaluated for improvements.
Written by Kumar Sourav Mohanty, Akansh Bhatt, and Shashank Dobhal
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