September 25 (newsin.asia) – Data never sleeps; it is estimated that by 2020, there will be 40 times more bytes of data created. To put this into perspective, it would a quantity be more than the observable stars in the universe. With every like, swipe, click and share data is created. With this, the discussion focused on the characteristics of “Big Data”, which is data generated in massive volumes, at high velocity and variety leads to data created in such abundance. The primary concern then is the supply of human talent with the requisite skills to process and analyze data. Without the human element to process the data, sift through its data would be redundant.
Dr. James Abdey, Associate Academic Director of London School of Economics and Political Science (LSE) and a Data Specialist addressed the audience on the open day event hosted by Royal Institute of Colombo by giving an impressive introduction to the University of London: the awarding body, and LSE which provides academic direction. The previous symposium hosted by Dr James Abdey was a tremendous success which brought together data enthusiasts ranging from corporates to scholars.
LSE is one of the many prestigious constituent colleges of the University of London. Dr. James Abdey introduced the programmes that were on offer and the examination process to prospective students and their parents who had gathered. Dr. James Abdey also emphasized the role RIC has been playing as an affiliate center and is held in high regards by LSE for the outstanding results RIC has been successfully producing over the years. RIC is also the first affiliated center of UoL globally to introduce the new LSE programmes, BSc. Data Science & Management and Digital innovation.
Why is data important?
Data is revolutionizing businesses. The processing and extracting information from multiple sources, organizing information and identifying patterns and co-relations is the process of using data to make informed business decisions. Organizations wanting to maintain a competitive edge will tap into the data that it is creating. After all, the key to gain and retain customer loyalty is maintaining experience-based service. A business, without the knowledge extracted from data, is unable to develop strategies, KPI’s or make decisions. If an organization does not make use of this information, then be assured that a competitor will.
“Labour market is ever-changing and it is vital to prepare for the jobs of the future and not for jobs of the past,” was a powerful statement made by Dr. James Abdey as he emphasized on choosing the right programme that could pave the way for a successful career pathway. Converting the mountain of data received into information, insights, and patterns can lead to discovering new markets and to make more informed decisions. This is what organizations are focusing on in today’s context and require individuals who could deliver those unique skills. Dr. James Abdey went on with providing more insights on the two new and most demanding programmes that LSE is offering with UoL; Bachelors of Science in Data Science and Business Analytics, & Management and Digital Innovation. These programmes play a pivotal role in equipping students with skills that are evolving. The course aims to provide insights on how to apply technology to real-world data science problems and gain an in-depth understanding of emerging technologies, statistical analysis, and computational techniques.
Further, speaking at the event was Vinuri Wickramasekara, a proud alumna of RIC who received her first-class honors in LLB in 2016. She was amongst the only three Sri Lankans to have received First Class Honours in Sri Lanka and also one out of ten students of UoL globally.
The sublime foundation laid due to the journey at RIC has played a pivotal role for Venuri to excel in further studies and she stated that state-of-the-art facilities offered by RIC made her learning much more interesting. She shared her gratitude towards the lecture panel of RIC for grooming her intellectually, academically and as a person. Venuri is a lawyer at FJ &G de Saram, a reputable law firm in Sri Lanka, and was also tutoring First Year law students ‘Legal Systems and Methods’ module at RIC. Venuri completed her speech with the statement that “RIC is undisputedly the best educational institution to pursue undergraduate degree”.
Further inspecting the evolution of data analytics, once limited perhaps to a few fields in finance or investment, now we see the application of data science across industries demonstrating a genuinely interdisciplinary nature. Law and Law enforcement have seen the benefits of adopting a data-centric approach. Forensic Statics from a criminal law perspective provides conclusive data on which sound judgments can be based. Forensic Statics are now developed to complete partial fingerprints, achieve entire DNA patterns from a tiny blood splatter and estimate time and variables of decomposition, which provides a more complete and conclusive platform for evidence presentation.
Speaking on behalf of RIC was Sulakshitaa Thirugnanam, another proud alumna of RIC, who graduated with a First Class Honors in Bachelors of Science in Business Management in 2017. The reason for her to choose RIC was the value of the degree and recognition of the prestigious university, UoL.
Sulakshitaa also shared her perspectives on the importance and value of data and technologies which is shaping our lives. She was delighted to learn that RIC is now offering BSc. Data Science and Business Analytics & Management and Digital Innovation programmes which exhibit that RIC, offers the most demanding programmes preparing the students to be more competent in their career fields. Sulakshitaa ended her speech with a profound appreciation to RIC for offering opportunities that have shaped her career pathway.
The curriculum developed by LSE, endeavours to instill the conceptual understanding of the wider world where data-driven decisions are being made. RIC is the first affiliated teaching center globally, to offer the UoL Data Science and Business Analytics programmes. (BSc and Graduate Diploma). RIC is keen to enable the aspiring youngsters of today to prepare for the jobs of the future.
The Data Analytics landscape in Sri Lanka today is one of low hanging fruit. The name of the game is speed; speed in which a business can redefine itself to be data-centric. To adapt means to reap the benefits of easily accessible wins through sound decisions made based on data. The future begins here!
RIC is on the top position filling the gap in the educational industry in Sri Lanka with its 39 years of excellence and offering programmes that are most suitable in this digital economy era.
http://ric.lk/ – for further information on RIC and the courses it offers.