As a part of its intensive Industry Interface, Jaipuria Institute of Management, Noida invited Mr. Lokesh Arora, Founder Director of Knowlvers Consulting Private Limited to speak to students. He was specifically invited by Jaipuria Noida with the aim of sensitising its student managers to present-day challenges faced by start-up companies. Prior to his own venture, Mr. Lokesh Arora had acquired immense work experience with global corporate giants like Accenture and Genpact LLC.
After his lecture, Campus Journalist, Geetika Goyal (First Year PGDM), found the opportunity to speak to Mr. Lokesh Arora on entrepreneurial opportunities in the world of research and statistics.
Geetika – Thank you, Sir, for the extremely personal lecture. We now know the individual thought-process and efforts needed to give shape to a start-up. Can you share with us how the opportunity of starting up on your own came your way?
Mr. Arora – The idea really evolved over my days with Accenture as well as Genpact. While working with these corporate houses, I realised that there was a dearth of analytics-based Consulting & Coaching companies. It was with this perspective that Knowlvers Consulting was raised in March 2012, with the vision of providing honest, holistic and sustainable solutions. We are a bunch of people who have deep analytics expertise, breadth of geographical reach and are passionate about taking on immense challenges that matter to our clients. We work with our clients as we do with our colleagues – to get to the real issues and reach optimal solutions.
Geetika – How do you think a management student should prepare himself for a career in the field of analytics and research? What could be the opportunities for students from Jaipuria Noida with your company, for instance?
Mr. Arora – First of all, this field is for those who love numbers or, at the very least, are not scared of number-crunching exercises and mathematics. The importance of statistics, data analysis and interpretation is absolutely critical to industry. A common dilemma among most students from the statistics background is that they have learnt the concepts but have received little or no exposure to the application part. Knowlvers Consulting can certainly provide students from Jaipuria Noida a head-start, in the form of projects and internships. We work in a space which is completely dependent on its employees’ knowledge and their understanding of concepts. The advantage of their business model is that it is ‘Industry Agnostic’; this means that the concepts and analytics are not industry-biased, and what has been applied in one industry can be applied to another industry.
Geetika – Can you explain how analytics is Industry Agnostic?
Mr. Arora – For instance, in the Credit Card business, CIBIL is the bureau which keeps the negative score of an individual’s credit card account. If a person takes a credit card from any bank and defaults by not paying the bill of the credit card, his account will reflect a negative or a low score in the CIBIL bureau. If the same person applies for a credit card through another bank thereafter, his score is checked. Had the score been positive and high, he/she would’ve been issued a credit card, but in this case the application for the credit card is bound to be rejected. The concept of analytics and research will remain similar across industries. There are numerous tools pertaining to Fraud Analytics, Kurtosis and Segmentation in work area.
Geetika – Thank you, Sir. I think after your lecture, most of us at Jaipuria Noida have realised that if you are passionate enough, even a technical subject like statistics and research holds potential entrepreneurial opportunities.