Hyderabad: The theme for ISB Leadership Summit 2014 is Future Today, and speakers addressed the topic ‘Big Data and Social Media’.
They said that while social media can be effectively used to gauge consumer sentiment or expectations, there are other tools too that hold potential.
“One of the biggest challenges that we see working with clients in India is when you we talk of big data, every one jumps to social media.
There is a huge amount of structured external data, which Indian companies have not really tapped into,” said Rajarshi Sengupta, senior director, Deloitte.
P. Elango, the CEO of Cairn India, gave the example of Cairn India’s oil exploration experience.
“Oil was found after spending $100 million and only after digging 14 wells. Just because somebody else has tried something and failed at it, should not stop you from trying something.”
