Data Analytics Can Play A Major Role In New Technologies – Ankur Goel

In Interviews, Technology

Qlik’s vision is a data-literate world, one where everyone can use data to improve decision-making and solve their most challenging problems. Only Qlik offers end-to-end, real-time data integration and analytics solutions that help organizations access and transform all their data into value. Qlik helps companies lead with data to see more deeply into customer behavior, reinvent business processes, discover new revenue streams, and balance risk and reward. Qlik does business in more than 100 countries and serves over 50,000 customers around the world.

Mr. Ankur Goel is the Managing Director at Qlik India. He is an Engineer with a Bachelor of Engineering (Electronics & Communication) from Manipal Institute of Technology. He is a sales leader with more than 18 years of experience in the field of IT / Telecommunication with excellent exposure to Sales, Product Marketing and Business Development. He has held leadership positions with brands like Cisco, Ericsson, Tata, and Siemens. As Managing Director of Poly, he was in charge of the India & SAARC business for the company and as Regional Manager at Cisco Systems, he oversaw cloud collaboration strategies aimed at building relationships within Service Provider Accounts.

In an interaction with Techxty, Ankur Goel talks about the new technologies that are helping to manage company’s operations. Read On! 

Tell us something about yourself and what does your company do?

Qlik provides business intelligence for over 50,000 customers around the world. As the only player in the global data analytics space that can provide an end-to-end, real-time data integration and analytics solution to organisations, we are enabling companies to access and transform all of their data into actual business value. In India, we cater to prominent businesses across multiple sectors. Our customers include Bajaj Auto, BookMyShow, Cognizant, HCL Technologies, HDFC Life, Mahindra and Mahindra Limited, Samvardhana Motherson Group, and Sitel, among others.

As the Managing Director for the India operations of Qlik, I am responsible for managing the company’s operations in the country and driving its nationwide growth. I’m an engineer by training and graduated with a Bachelor of Engineering (Electronics & Communication) from Manipal Institute of Technology.

In a career spanning more than 2 decades, I have been associated with several top tech companies in the IT and telecommunication industry – including Cisco Systems, Ericsson, Tata, and Siemens – in various leadership positions. Before joining Qlik, I was the Managing Director of Poly and was responsible for managing the company’s India and SAARC business. 

 Is augmented intelligence the new future of business growth? How?

Since industrialization, the human workforce has been leveraging machine capabilities to streamline workflows, optimise operations, improve productivity, and enhance overall business output. There are niche applications for artificial intelligence that rely completely on machine automation, but more complex business problems require interaction and human capabilities. At Qlik, we do not believe that the ultimate purpose of the AI is to replace the user-driven analysis with a black-box approach. Instead, we argue that machine intelligence and automation must be combined with human-centered analysis. In this way, all users, even if with different roles and abilities, have access to data literacy.

As a nation on the fast track to digitization, India has much to gain from the growing convergence between traditional business processes and cutting-edge digital technologies such as AI, machine learning, data science, and IoT. However, realising this opportunity would require a workforce that is equipped with the skillsets needed to optimally convert the ongoing digital disruption into tangible business value.

This has been corroborated by the findings of the Data Literacy Index, commissioned by Qlik and produced by Wharton School and IHS Markit. The report found that enterprises with strong Corporate Data Literacy (CDL) exhibited up to 5% higher enterprise value. Higher CDL levels can also help businesses realise additional enterprise value to the tune of $500 million. 

Corporate Data Literacy is essentially the ability of an organisation’s workforce to read, analyse, work with, and utilise insights generated by data analytics to make decisions with greater confidence and accuracy. This is an example of how intelligent machine capabilities can augment human skills and performance. So, yes, it can safely be said that augmented intelligence is the present and future of business.

What are the benefits of the ongoing trend of digitization?

Allow me to explain this by way of a very simple example. Traditionally, editing a document required a typewritten document being marked by hand, with the final edits needing to be typed again. This changed when computers and word processors came about; documents could now be printed and electronically edited. 

However, a document still had to be sent from one system to another to be edited. Documents requiring the approval of multiple parties often required several rounds of edits before being finalised. The rise of cloud-based document management services has eliminated even this need. Relevant stakeholders can collaborate on the same document simultaneously, drastically cutting down on the time and effort taken to finalise the document. 

This is a small example of how digitisation can improve critical business aspects such as productivity, agility, and collaborative ability. Today, we are witnessing digital technologies completely transform traditional business processes. Data science and automation, for instance, are making marketing to the right audience, with the right message, at the right time, through the right medium as seamless as tapping a few buttons. Chatbots are being deployed to streamline and elevate the customer service experience. A report published by the Ministry of Electronics and Information Technology and McKinsey predicts that the digital medium can create an additional business opportunity worth $1 trillion within the Indian economy by 2025. This underlines the role that digitisation can play in driving higher economic value and operational efficiency across business functions and industries.

How blockchain and big data complement each other?

Currently, blockchain is helping a myriad of different industries like retail, consumer products, healthcare, insurance, and others become more efficient, trustworthy, and relevant in today’s economy. While the potential use-cases for blockchain are still evolving, technology can potentially play a major role in data analytics operations. The biggest benefit, in my opinion, would be the improvement in the quality and authenticity of the data being used by enterprises. 

The only task left is to make the benefits of blockchain technology available to the masses, and the best way to do that is through a lens that lets the customer, patient, agent, or scientist have complete visibility to all data attached to a transaction, and to provide trust in the data they see on their screen. The Qlik platform is the right lens to provide the necessary visibility, governance, and agility to add fuel to blockchain projects.

Experimental analytics-led blockchain applications could also be used to verify the authenticity of the data being used. This will lead to the generation of more accurate, contextual, and comprehensive insights, which in turn will improve the decision-making ability for enterprise users and will drive higher business value.

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