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Dheemanth SOP-Boston

The document is a statement of purpose from Dheemanth Reddy applying to a business analytics graduate program. It outlines his entrepreneurial experiences developing financial technology products in India, including a digital hospital app and payment systems. It emphasizes his interest in using data analytics and machine learning to inform product development and business decisions. Reddy believes a business analytics degree from Boston University will enhance his technical skills and allow him to apply data-driven insights to future ventures.

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Subrahmanyam Adapa
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66 views

Dheemanth SOP-Boston

The document is a statement of purpose from Dheemanth Reddy applying to a business analytics graduate program. It outlines his entrepreneurial experiences developing financial technology products in India, including a digital hospital app and payment systems. It emphasizes his interest in using data analytics and machine learning to inform product development and business decisions. Reddy believes a business analytics degree from Boston University will enhance his technical skills and allow him to apply data-driven insights to future ventures.

Uploaded by

Subrahmanyam Adapa
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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STATEMENT OF PURPOSE

BS DHEEMANTH REDDY

As a startup founder and entrepreneurial-minded individual, I understand the


importance of making strategic decisions to maintain a steady stream of profits for a
company. My goal is to play a pivotal role in this process by analyzing past
performances and creating roadmaps for successful and stable futures. My short-term
goal is to work as a financial analyst at a company and gain an understanding of the
credit landscape. However, my long-term vision is to create financial solutions that can
reach rural areas of India, which larger banks and financial institutions may not be able
to penetrate. This vision is driven by my experience of watching my father struggle to
secure credit from formal sources, despite his perseverance. The educational
establishment he set up with the funds positively affected the community. This memory
continues to fuel my motivation to make credit more accessible to the people of India.
To achieve this, I plan to utilize the latest technologies, such as machine learning,
artificial intelligence, and deep learning, to improve access to credit for Indian citizens. I
plan to complete an advanced study in Business Analytics to make this happen. This
will allow me to apply my foundational knowledge of Computer and Data Sciences,
gained from my undergraduate program and certification courses, to guide
decision-making and business planning. My entrepreneurial experiences have reinforced
my belief that products developed based on data-driven insights are more likely to
succeed and thrive.

During the world-stopping COVID-19 pandemic, I acquired a profound understanding of


product development from my group mates, and I developed a digital hospital
application to aid the general public. The objectives were to bring about an interface to
enable video consultations with doctors and a hospital bed-tracking system through
which people could see which facilities were intaking patients. However, as the
implementation period went on, various issues with our product continued to surface,
and I had to put out the fires. For example, it turned out that many users needed help
comprehending prescriptions submitted on the application in English. Consequently, we
integrated a language translator based on data indicating the in-demand local
vernaculars.Additionally, as patients vastly outnumbered doctors, we deployed a
chatbot feature to determine the extremity of user conditions to prioritize who gets
access to the online consultation. Another vital tweak we made was inspired by
Google's local guide system in that we allowed the user community to generate
peer-reviewed bed availability updates. Overlooking the entire project, from
conceptualization to launch and subsequent support, showed me how data provided
crucial inputs on bettering the product. Moreover, data analytics could have assisted us
in the design phase to implement many features we only included post-launch.

Learning from my past experiences, I embraced my next significant endeavor. Taking


note of the lack of PoS machines in most Indian grocery stores that prevented
payments through credit cards, I delved into the matter by sourcing and analyzing data
on the subject. I found that many customers underwent the tiresome process of
transferring money from credit cards to their bank accounts before paying the merchant
for goods. Therefore, based on the information that around two-thirds of the people my
friend and I surveyed faced similar inconveniences and that more than 90% of digital
payments made are less than Rs.1000/- in value, we developed a payment system titled
"Spot Pay." It facilitated credit-based digital payments for the convenience of the general
Indian shopper. A machine learning model integrated into our system automated the
credit allocation system, as I knew that manual allocation ran the risk of irritating users
with longer wait times. After the initial launch, I noticed shortcomings in our ability to
retain users. Through analytics, I understood that the payment speed was below the
mark. The moment we resolved this issue, the retention rate shot up. Once again, I could
not help but admire the power of analytics.

A personal favorite, the Surge App I devised, was an outcome of extensive surveying to
find an optimal solution. Eager to catalyze the financial market participation rate among
the general public, I built launch websites on various ideas and analyzed their traction.
Eventually, my proposal of translating spare change into digital savings, which would be
invested in the market, took off, as suggested by the thousands of customer emails I
received. Within two months, my friends and I build a minimum viable product, our
diligent hard work proving crucial to convince banks for payment gateway support or
overcoming programming challenges in the development phase. In addition, we
strategized numerous promotional campaigns on Facebook, LinkedIn, and other popular
platforms to increase its visibility. With a rising user base, the support requirements
jumped in scale, compelling me to hire more people to match the technical demands of
our project. The countless interviews and interactions I conducted in the name of hiring
honed my communication skills. Furthermore, with a more extensive network of
developers under my watch, I had to upgrade my management and team-building
capabilities to secure cohesiveness in our extended operations.

Spot Pay and Surge App represent my initial attempts at establishing business
operations. Going beyond the mechanisms explicitly focused on application
development; I realize the grander scheme, in both cases, was on establishing a
sustained machinery in the form of an organizational setup. I required a permanent
workforce and a network of sponsors and promoters. As I searched for technologically
proficient developers and capital backing, hiring and networking turned out to be
endurance runs that compelled me to take note of how I had been blindsided. I must
add dimensions to my capacity for business intelligence, which will equip me to
formulate action plans on spotting talent, convincing them to join my vision, and
arranging reliable funding streams. Plus, I needed to have permanently instated means
of performance review. Tools and protocols rooted in business analytics could have
constantly dissected my product, extrapolated the investigated details on market
characteristics, and presented me with formulas for improving features.

Moving forward with valuable lessons on business incubation, the paramountcy of user
retention, and understanding the customer's point toward product development gleaned
from my ventures, I look to back every decision with data. To augment my capacity, I
want to graduate in Business Analytics. The prestigious Boston University is my
preferred choice because of its detail-focused curriculum and the opportunity to learn
from distinguished faculty in the field. The program's curriculum is designed to enhance
my programming and analytical expertise through rigorous hands-on coursework and
real-world scenarios. This curriculum includes subjects such as Business Analytics
Toolbox, Intro to Business Analytics, Supervised Machine Learning, Competing with
Analytics, Teaming, Management Communications, Unsupervised Machine Learning,
Business Experimentation, Causal Methods, and Data Ethics Intensive.

One of the subjects that particularly excites me is Supervised Machine Learning. This
course will provide me with a comprehensive understanding of supervised learning
techniques, including linear and logistic regression, decision trees, random forests, and
support vector machines. I am particularly interested in learning about the applications
of supervised machine learning in marketing analytics to improve customer targeting
and segmentation.In addition to the curriculum, I am also excited to learn from the
distinguished faculty at Boston University, particularly from professor Nachiketa Sahoo.
His work at the intersection of Machine Learning and Information Systems aligns with
my interests in data analysis and decision-making. I am eager to learn from Professor
Sahoo's Machine Learning and Information Systems expertise and how it can be used
for personalized recommendations and decision-making. Furthermore, the program's
resources and career opportunities are highly attractive to me. The program provides
workshops, datathons, industry speakers, and networking opportunities. Additionally,
the program has a career coaching team, which will help me to explore career options
and develop my search strategy. Through the Feld Center for Industry Alliances, I will
also be able to attend events and network with employers and alums. In addition, I will
have a dedicated program director who will be my mentor throughout the program. All
these resources will help me to succeed in achieving my goals.

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