Giving data analytics edge to business management professionals

In the present scenario more power lies in the hands of customers than companies and this has magnified the importance of data analytics for everyone. Analytics from data arm organisations with the right insights on customers’ aspirations, needs, and behaviors. It helps cut down significant expenditure on wasteful advertising, resulting in effective target-based product marketing which causes an exponential rise in business sales and revenues, ultimately benefiting the organisations in the long run.

Given the rapid adoption and integration of industry 4.0 and 4.1 technologies across the world, the scope of data-driven decision-making is bound to increase. This will mean an increase in the number of lucrative job opportunities, which would require a skilled and qualified workforce to help businesses navigate in an increasingly complex landscape and thrive in a volatile business environment. “Learning Data Driven Product Management could help learners cultivate relevant skills expected in today’s VUCA environment, further availing significant opportunities to professionals and students interested in the domain”, says Prof. Rajeev Kumra, Professor, Marketing, Ex-Dean, Indian Institute of Management, Lucknow. IIM, Lucknow is offering Data-Driven Product Management programme to cater to the increase in demand for professionals in this domain. Till now, a total of seven cohorts of the course have been run training over 550+ learners and professionals in Data Driven Product Management. In an interaction with J&C shares details about this pathbreaking course. Excerpts .

Could you dwell more on the course structure of DDPM and how it has been developed?

 A. Taking into account the growing demand of data-driven business management, the DDPM programme has been curated and designed with an objective of preparing and nurturing skilled talent, savvy with data analytics and management. This specialised and niche programme caters to the need of producing well-rounded Product Managers, proficient in design thinking, data analytics and application of industry of 4.1 technologies.

 IIM Lucknow’s Executive programme in Data-Driven Product Management is a LIVE online programme focused on projects and case study-based experiential learning. The curriculum focuses on a diverse array of aspects relating to product management —ranging from building, managing, delivering to marketing and selling products. Through this programme, we aim to familiarise interested professionals and learners with the applications and methodologies of data driven decision-making and equip them with the competency to build and manage the end-to-end product lifecycle successfully.

 We have been offering this programme for seven cohorts now, in association with WileyNXT, an online executive education programme partner from Wiley. The firm’s quality services, and support are effectively helping our learners earn their degrees, develop their skills, and advance their careers.

Are there any eligibility criteria for the programme? 

A. The Executive Alumni programme is suitable for professionals involved in developing and managing products. These include Product Managers-Business and Product, Unit Leads, Product Heads, Product Marketing Managers etc. who are looking to gain industry-proven and data-driven expertise for career growth opportunities. The course is also suitable for professionals in software development and technology who aspire to transit into product management roles.

 As a premier institute with a legacy of over three decades, this programme by IIM Lucknow focuses on quality over quantity. The eligibility criteria have been decided to keep in mind the curriculum and structure of the programme. This course is open to early-stage professionals with at least one year of experience. A 50 per cent graduation grade point average is mandatory to enroll in the programme.

 What role does this curriculum play in training students and professionals and in making them future-ready?

 A. At IIM Lucknow, our goal is to make managers of today, future-ready leaders and we share this vision with our executive education programme partner, WileyNXT.  This programme deals with the whole gamut of product marketing strategies which are driven by qualitative research, design thinking, and analytical skills. Under this programme, learners are provided hands-on training to work with various analytics techniques, algorithms and tools. Solving complex problems, case studies and developing customer-centric prototypes using design thinking and UX frameworks constitutes an essential part of the program’s curriculum. The seven-month course works towards offering a blend of theoretical and practical learning, enabling learners to take on impressive roles and carve out successful careers in Product & Marketing domains.

Is this course globally recognised and does its open opportunities for global employability?

 A. Indian Institute of Management, Lucknow is one of India’s coveted institutes of management. When it comes to business and management schools, we have a global reputation as a bespoke leader. For over three decades, we have been committed to our mission of delivering quality education and producing skilled talent and professionals. Our alumni are representing us in every nook and corner of the world.

 At present, we could see a definite dearth of skilled workforce, especially in domains such as IT, ITeS, and technology. This problem is not just limited to India but is being seen across the globe. Organizations across the world are involved in a talent war and are on the constant lookout for a future-ready workforce, trained to deal with the challenges being thrown up by digital and tech-savvy business environments.

 As a course focused on building critical and niche skill sets, I believe that it could certainly open multiple avenues and opportunities for learners and candidates.

As told to Geetu Vaid