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JIMS Rohini organized a Short-Term Training Program on ‘Decision Making using Data Analysis’

JIMS Rohini recently organized a Short-Term Training Program (STTP) on ‘Decision Making using Data Analysis’ from 25th June to 30th June, 2021 under the guidance of Dr. Sumesh Raizada and Dr. Neelam Dhall.

Day 1 started with the welcome address of Dr Sumesh Raizada, Professor, JIMS followed by inaugural address of Dr Pooja Jain, Director, JIMS wherein she welcomed the esteemed resource person, Dr. H.K. Dangi, Professor, Delhi School of Economics, DU and the participants who joined from various colleges and institutions. Session 1 was headed by Dr H.K. Dangi in which he explained the basics of NVIVO software which is primarily used for qualitative research and further he explained the sentiment analysis via using the same software. The second session of day 1 was taken by Dr. Parminder Bajaj, Professor, JIMS, Rohini who introduced the term financial econometrics and its relevance in the modern research and explained the financial econometric tools using R studio software. Further, she discussed about the types of data namely- Cross-sectional, Panel and Time series. Later on, she explained the application of time series data in R software. 

Day 2 started with in-depth briefing of bibliometric analysis technique using VOS viewer software by Dr H.K. Dangi. He explained the participants about various kinds of literature reviews such as narrative, systematic and argumentative. In the second session, Dr. Parminder Bajaj, elucidated financial econometric analysis with the help of modern tools like Johansen cointegration and Granger causality techniques using R studio software. Further, she discussed about the linear regression and its assumptions related to normality, multicollinearity, auto-correlation and normality of residual with the help of practical examples. 

JIMS Rohini
JIMS Rohini

Day 3, Mr. Saurabh Aggarwal, Faculty and Consultant, IBM & UNESCO for Business Analytics, Kanpur was the resource person for these sessions. He started with the concepts of variables, validity and hypothesis testing. He used SPSS software to demonstrate different types of statistical tests. Moreover, he explained different kinds of data analysis and its usage in the modern day research. Later, in session 2, he explained how to test the normality of  data. He further discussed the various kinds of parametric and non-parametric test such as T-test, ANOVA, Chi-square and many more. 

Day 4 was extension of day 3 as both the sessions were headed by Mr Saurabh Agarwal and he started the session by explaining the concept of Exploratory Factor Analysis (EFA). Later, he explained concepts like Confirmatory Factor Analysis (CFA) and basics of Structural Equation Modeling (SEM) using AMOS software. Before that he explained the concepts of correlation and regression thoroughly which are pre requisites for applying SEM. 

Day 5 began by detailed explanation of latent variables and their usage in formulating Structural Equation Model (SEM) by Mr. Saurabh Agarwal. Later, Mr. Agarwal explained other statistical tools such as KMO test, Bartlett test and many more which are applied to check whether SEM or EFA can be applied to the particular data set or not. Furthermore, he explained the types of SEM analysis. 

Day 6, both the sessions were taken by Dr. N.P. Singh, Associate Professor, JIMS, Rohini who explained the concepts of modern econometric techniques such as EGARCH Model, Toda-Yamamoto version of Granger Causality and VEC Model.  At the end of the last session, an online assessment was conducted to evaluate participants on their learnings during the STTP. The program concluded with vote of thanks by Dr. Neelam Dhall, Co-Coordinator (STTP) who acknowledged the efforts of everyone who contributed to the success of programme. Moreover, she praised the participants for their keen interest and involvement during the program and wished them good luck for their future research endeavours. The program culminated with a thunderous applause from all the participants who gave an excellent feedback about the program as they had so much to take away.

PGDM JIMS Rohini, Delhi