My name is Abhinav Nalwaya. I have completed my B.com in 2017 from MLSU, Udaipur and PGDM (Marketing) in 2019 from Sri Balaji University, Pune. My first job was with Hero Fincorp as a Sales executive for 1.5 years then I was with ICICI Prudential as Senior Agency Manager for 1 year. So as of now I have got a total of 2.5 years of industry experience.
Problems faced at workplace
The biggest problem that I faced in my domain i.e. insurance industry was: keeping track of the existing customer’s data, how the sales team can acquire new customers, what new products or plans are to be designed every quarter or half year for giving more benefits and how to make profit out of available resources.
How data science helped me?
Data science helped me a lot to solve my problem. Doing Univariate and Multivariate analysis in visualization helped me in understanding different variables and relationships between them. The Description function also gave me a statistical summary of all variables in analysis. This helped me in evaluating the existing customer data based on no. of customers coming back or not. Data science helped us to make smooth and more accurate decisions. We used predictive modelling to analyse the data properly and to make the decision of which all new products can be designed and can be found out if it is being preferred by customers or not.
Conclusion
PGP Data science and Business Analytics in my organization helped me and my colleagues in making useful and informative decisions for increasing customer foothold and profits in the company. As we started applying it, the rise in profitability was found to be 2-3% only but overall when the resources utilization was considered, it came out to be huge. The human resources involved in various operations also got reduced as we started doing the things automated. Besides, we had started devoting more time in planning and bringing up the new policies and products to satisfy the customers.
