Mu Sigma, a category defining company in the Decision Sciences industry and the Big Data space, and the Indian Institute of Management (IIM), Lucknow,announced the winners of mureka, a case study contest targeted at students currently pursuing PGDM or Executive programs at IIMs across locations.
The contest was designed to provide the students an opportunity to exhibit their problem solving abilities and impress upon them the far-reaching significance and impact of data analytics in the present age.
Sriram TE form IIM Rohtak and Pousali Chakrabarti from IIM Raipur were announced joint winners, while Manavendra Roy Choudhary from IIM Shillong and Arunsankar Kumarakuruban from IIM Lucknow jointly bagged the first runners up slot followed by Renuka S from IIM Trichy who was adjudged the third runner up.
The event saw participation from 13 IIMs across the country, with registrations from 950 students. A panel of experts associated with Mu Sigma shortlisted top seven presentations from the total entries received. The first round comprised of a case study that tested the participants on their ability to handle and analyze massive datasets and provide relevant insights and recommendations based on the same.
The seven best submissions presented their case studies in the finale concluded yesterday at the IIM-Lucknow campus. The winners were identified based on their accuracy of the analysis, creativity, thoroughness of the approach and quality of work. The presentations were evaluated on the methodology used, the approach, quality of the presentation and Q&A handling.
The prize money awarded was Rs. 6 Lakh for the first position, Rs. 3 Lakh for the second position and Rs. 1 Lakh for the third position. In addition, the top seven candidates and the top 20 submissions in the first round are eligible for Pre-Placement Interviews (PPIs) with Mu Sigma.
On this occasion, Ambiga Dhiraj, Head of Delivery, Mu Sigma said, “mureka was organised by Mu Sigma with an objective to create awareness about the Decision Sciences industry, to encourage and inspire students to gain exposure to real world business problems and provide students an opportunity to innovate by integrating Math, Business and Technology. Events like this should be encouraged more and more by the enterprises to harness the young and prolific talent pool that India possesses in the field of mathematics.”
"Events like mureka help the students to get a feel of the real world issues in Decision Sciences domain. As the future business managers, the event gave an exposure to students on the challenges that lie ahead of them when they are confronted with voluminous data. More and more events like mureka will help the students align themselves with the industry requirements and become better managers equipped to deal any real world problem," said Satish S M, Chairman of Student Affairs, IIM Lucknow.
In July 2012, Mu Sigma rolled-out MuPhoria, a national contest targeted at final year engineering students, which was concluded in December 2012. The competition saw a participation of more than 500 students from engineering colleges across India. The leader board was published every month with the winners being awarded a prize money of Rs. 3 Lakh and an opportunity to qualify for an interview process with Mu Sigma. Subject to selection and completion of three months with the organization, the individual would be eligible for a one-time sign-on bonus of an additional Rs. 3 Lakh.
According to a report published by Global consulting firm McKinsey, the universe of digital information will increase another 20-fold by the year 2020 and to cater to this another 140,000-190,000 deep analytical talent positions need to be created in the coming years.
Mu Sigma believes in developing human capital for global leadership in decision sciences, by creating an environment that will nurture the talent and enable them to gain mastery over the field of analytics. With this vision, the company set-up it’s Mu Sigma University in 2006 to harness the pool of raw talent in India and refine them to be industry ready.
Dhiraj C. Rajaram, Founder, Chief Executive Officer and Chairman, Mu Sigma expressed, “There is a pressing need for people in the analytics industry who possess the combination of maths, business, and technology. Although India is one of the nations in the world to enjoy abundant raw talent, there is definitely a dearth of people who can bring the combination of math, business and technology to effective use in the industry. Mu Sigma University is specifically designed to handle talent creation in the company and help fill this vacuum.”