My Pursuit of a Master’s Degree in Data Science

I have decided to pursue a Master’s degree in Data Science which will provide me with a rigorous, hands-on training and prepare me to use data and analytical tools to identify business opportunities, generate business insights and create business solutions. The importance of incorporating a data-driven approach to policymaking to minimize the financial risk and improve business sustainability became increasingly clear to me during my work as a credit and risk analyst with ICICI Bank.

The amount of data available in the financial markets and business world is growing exponentially and individuals adept at handling as well as analyzing that data are well poised for growth. The MSDS program at Data Science Institute (DSI) with an integrated curriculum of quantitative and technical courses will help me learn how to transform data into smart insights and master programming skills for application in various functions. I would be especially interested in taking courses like Machine Learning, Advanced Quantitative Analysis, and Risk Analysis to build upon background in finance. I am also drawn to DSI because of their focus on experiential learning through Capstone projects and Centers of Excellence. I went through the brief description of capstone and faculty projects listed on the website and was amazed at the diversity and scope of those projects. These factors make DSI an automatic choice for me and if given an opportunity would like to contribute to such research areas.

My educational background in engineering and management studies has provided me the necessary prerequisites to flourish in MSDS program. I have completed my undergraduate studies Computer Science and Engineering at Manipal Institute of Technology, Manipal University one of the oldest and top ranked private engineering colleges of India. The university counts Satya Nadella and Rajeev Suri amongst its alumni. My engineering curriculum included courses in Linear and Matrix Algebra, Calculus, Probability, Stochastic Processes etc. I also became proficient in programming in both C++ and Java. In one of my projects I wrote a program in Java to effect multiple data transfer protocols after encrypting the data using AES and DES algorithm.

After my engineering, I joined Indian Institute of Management, Rohtak for management studies where I specialized in Finance and IT management. At IIM, I was introduced to Business Statistics, Time Series Analysis, Integer Programming, Simulation tools and their application in the world of business.

After completing my graduate studies from IIM Rohtak I joined Sonata Software Ltd, one of the leading IT companies of India as an account manager. My role at Sonata Software Limited was to oversee a portfolio of assigned clients, develop new business from existing clients and actively seek new sales opportunities. I also lead the annual budgeting and forecasting process for my portfolio. In association with my pre-sales and implementation team, I had to make sure that the proposals and projects are delivered within the committed deadlines. My clients were spread across multiple industries like Telecom, Retail, Ecommerce, Manufacturing etc. I was able to grow my portfolio revenue by more than 40 percent during my time at Sonata Software.

While working at Sonata Software, I was also studying to get Chartered Financial Analyst certification. To gain practical knowledge in field of finance I joined ICICI Bank Limited, India’s largest private sector bank, in their Commercial Banking Group as a credit and risk manager. As a credit and risk manager, I perform risk analysis of credit proposals. I developed a model to assign internal credit ratings to proposals and ensured efficacy of internal ratings. I am also responsible for identifying the various risks associated with a credit proposal – operational risk, market risk, management risk etc., suggest ways to minimize exposure to those risks. I also articulated those views in credit committee meetings and help take balanced decisions. The revenue from my portfolio more than doubled in my 4 years while loss due to default was less than 2%.

On completion of the MS program I would like to work at the intersection of finance and technology as a data scientist or business analyst in the financial sector. I would like to design statistical analysis and modeling algorithms to identify performance and risk drivers in the financial industry. I would leverage my previous work experience in IT and Finance industry to develop technology platforms which can help the organization improve the data capture and analysis process leading to more reliable reports and insights. In the long term, I would like to be in a managerial role leading to chief data scientist and make analytics one of the primary drivers of business in my organization.

One of the problems where I believe efficient data analytics can bring about a long term change is financial inclusion. Today there are more than 2.5 billion people without access to formal financial services, and there are hundreds of millions of micro and small enterprises with unfulfilled financing needs. Alternate risk models based on spending at mobile operators, grocery stores, and utilities etc. would allow institutions to identify credit worthy clients and also minimize risks at the same time. Even on the small business side, companies like Alibaba have done a tremendous job by leveraging their ecommerce data to analyze risk and offer credit to businesses. Data analytics can also help these institutions improve operations and reduce costs which will enable them to do service low income customers without affecting their margins.