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Day: March 15, 2019

Data Analytics: Expectations vs Reality

Posted on by Imarticus Learning

Last Updated on 2 years ago by Imarticus Learning

Data Analytics: Expectations vs Reality

As we see the field of data analytics getting to its peak in terms of career choice, hordes of young people and professionals now want to make their careers in this field. However, data analytics like any other field is not everyone’s baby. It can be a suitable career option for people, who love data, play with figures and are comfortable in handling a wide array of analytics tools that play a vital role while treading this career path. In other words, you must be aware of the myths and reality about this domain, or else you end up messing up your career and start cursing your fortune.
Why is Data Analytics a hot choice?
Of late, the number of young professionals working in different domains has developed an affinity towards data analytics. Some of these have shifted from their career in IT and other fields towards it, while there are many who despite not knowing what is analytics are thinking for a change in their job. Thanks to a growing number of data analytics courses online, more and more people are thinking to take a shift to this career. There are primarily two key reasons to get attracted to this field:

  • It is a lucrative industry to join
  • It can give good salaries and perks if you have a passion for numbers

However, most of the people who do not even know the data analyst meaning still want to enter it. Hence it is imperative to be realistic at this juncture when you are thinking of taking a shift to this field.
Data Analytics – Reality & Expectations
Although the career in data analytics can be lucrative, if it is not your cup of tea, there is no point in heading in this direction. First of all, check these realities:
The deeper you go, the tougher it becomes – Career in Data Analytics can be a lucrative option and could be selling like a hot cake but the deeper you dig, the harder it becomes. Learning and mastering the concepts of data analytics is not often an easy job, you are supposed to be committed and have the knack to play with numbers and play with data. You should own and hone analytical, technical and personal skills. The day you stop studying the concepts and ideas of this field, you just end up becoming obsolete very soon.
Meritocracy – This field is for people who are known for their merits and credentials. You may find it easy to join any data analytics courses online, but if you cannot excel in it, you may end up finding a clerical job in any data science company. You have to be the best in your work, and there are reports of people joining by being a blind follower. Instead, you should be realistic in choosing this career. An average understanding and competence in this field will not let you anywhere.
IT can Tough and Frustrating – Being a Data Analysts is like a software engineer who also has to keep on updating and upgrading himself to survive in this tough world. It can be a frustrating experience for many despite putting so many years and money as an investment as what you get would be too little to celebrate. Having said that, if this career is not addressing your Why, then you are bound to feel its toughness and end up leaving it out of frustration. Unless you are very sure about this career and have the knack and passion for playing with data, numbers, and analytics tools it’s naïve to even think of entering into this field. The field of data analytics is very demanding; you have to be a consistent learner with focus and then only harnessing the best opportunities in this field is possible.
Conclusion
With the rise in demand for data analytics in the market, there seems to be a craze among the youngster to enter into this field. However, it is always recommended to check the reality and expectations of this field and then decide to move ahead. After all, it is naïve to enter into this field if you do not even know the data analyst meaning.

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Analytics & Data Science Jobs in India 2022 — By AIM & Imarticus Learning

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The Hidden Agenda of Fintech

Posted on by Imarticus Learning

Last Updated on 2 years ago by Imarticus Learning

Fintech is the digital revolution which has redefined the way financial business took place in the past. India has adopted fintech at a very rapid pace. Many start-ups have emerged which are embracing fintech and many banks have also adopted fintech. The purpose of these new fintech start-ups is to utilize technology such as artificial intelligence in payments applications.
So what is fintech in the laymen terminology? Fintech is basically driven from the term financial technology which means that using technology is changing the financial services industry. This has been adopted globally. While fintech India is still quite a new concept in the country, but it is progressing.
Financial technology has its own agenda, in the way that it is customer driven. Fintech is a customer-driven approach. It is a way to spread awareness amongst its customers about the digital payments possibilities. From the financial industry aspect, another motive of fintech set-up is to make lending and borrowing available for all types of people who need capital. Since the current banking and finance industry uses credit history as a method of lending decisions, many individual borrowers along with small and medium enterprises end up suffering. This is because although their credit history might be tainted but possess good cash flow in present and future outlook could be promising with an intent to pay back the loan, banks and financial institutions still reject such applications.
How the fintech course can help in this situation? The answer is that since it makes use of artificial intelligence and machine learning it can help to create a lending score through a complete analysis using advanced data-driven and behavioral management models. Blockchain technology is the most amazing innovation of fintech. It is a digital ledger which stores all such data of customer which can be used whenever needed. Not only this, but it can also create a digital profile of customers who are not using banks for financial needs.
Another important reason why fintech is the next big thing is because of the online payments transactions which have become the norm. It wants to provide payments solutions to all individuals belonging to any sector in the economy. Fintech India aims to transform the country into digital India.
However, the biggest challenge is to convince and familiarize the small and medium enterprises to adopt fintech payments solutions as it will help them in the long-run to make and accept secure payments online. The biggest apprehension of the small and medium enterprises sector is the cost of adopting fintech. But what they need to understand is that this will not only help them to scale up their existing businesses but also increase the profitability of the business.
Through the use of smartphones, fintech is changing the customers of businesses as well. It makes it easier for customers to access information and data based on their previous history. Fintech can also keep a track of physical location as well as text messages. This way they can tailor the customer needs and provide a better way to address the financial needs efficiently.
Although all this sound promising the actual challenge which fintech is facing is the lack of awareness amongst the financial sector. There is an utmost need to address this issue and make fintech adoption easier and smooth. Since many people do not want to learn about the advanced banking products, while many do not want any disturbance in the current routine thus resisting the change. This can be resolved through aggressive marketing which can be done by making the marketers understand this concept completely.
Fintech is not a bad revolution which cannot be adopted rather it should be considered a positive sign for the economy. It will really change the financial industry for the better. Apart from this, it is also beneficial for customers to become financially sound.

7 Ways Fintech Can Improve Your Business!

Posted on by Imarticus Learning

Last Updated on 3 years ago by Imarticus Learning

Fintech has taken the financial service industry by storm. Its compelling and tangible benefits have enabled financial institutes to do more in less time and resources, and hence the latest trend in the industry is to embrace Fintech.

Through its services, Fintech has proved that it is not a bubble waiting to burst and is indeed a revolutionary concept that will result in sweeping changes in the finance sector. So, if you still haven’t joined the bandwagon and accepted Fintech, then you are missing out on a world of opportunities.

Wondering what benefits Fintech course online can bring to your business? Here we walk you through the seven ways in which your company can leverage from Fintech.

  • Seamless lending

‘Together we stand, divided we fall’, this quote holds the most in the world of business. There are times when peers need to help each other financially to survive the storm. But thanks to the complex banking systems and structure of financial institutions, it is not always possible for peers to help each other even if they wish to.

But, times have changed, and with Fintech, peer-to-peer (P2P) lending has become seamless. Fintech has removed the reliance on financial institutions and has enabled peers to lend money to each other directly.

Hence, this is the best time to look for expansion in the world of business as now you are assured of backing by your peers.

  • Making reporting and documenting a walk in the park

Record keeping is one of the daunting tasks in business. This process is hectic, time-consuming and eats productivity of your human resources.

But worry no more as Fintech brings automated reporting and documenting systems that simplify the entire process and inject efficiency and speed.

For example, an enterprise content management platform digitalizes all your data and records and makes it accessible in one go and from any source.

  • Understand customer’s creditworthiness

One of the proven strategies to win customers is to offer them credit. But it is a double-edged sword as you have to be completely assured that the customer can be trusted to pay later.

Analyzing the customer’s creditworthiness with manual checks takes plenty of time, but Fintech does this work for you in real-time. This results in better conversion rates and more profits.

  • Efficient cash flow management

Poor cash flow management is the cause of 82% of new business failures. Efficient cash flow management is integral to the success of your business and Fintech enables you to do that.

With Fintech, you can keep track of payments so that excessive payment periods, unpaid invoices and a lack of cash flow visibility do not hinder the growth of your business.

  • Precise problem identification

Traditional practices for problem identification are plagued with bureaucracy, lengthy processes and manual errors. But as Fintech deploys automated methods, problems are identified in real-time and that too with precision.
This provides your business buffer time to come up with a solution and also helps in creating accurate answers for problems.

  • Robust Intelligence

Data management is of the essence in sectors such as financial services. And Fintech is probably the best bet for managing data efficiently as it is equipped with necessary automated systems that streamline your business and bring convenience.

  • Better technological integration

In this era of the digital age, tapping into the potential of the technology is pivotal for the success of your business. Fintech offers seamless technical integration that allows you to get the best of all available technologies and expand your business.

With Fintech, you can create fast payment methods that make shopping a hassle-free process for the customer and can also perform various other tasks. Fintech courses also offer some incredible benefits in your business.
Undoubtedly, Fintech will be an essential cog of every successful business in the future.

So, if you want to survive the test of time, then you must embrace Fintech today. The aspects as mentioned earlier are just a few of Fintech’s benefits. This technology has plenty more in the store waiting for you!

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