A SUMMER INTERNSHIP PROJECT REPORT ON

LUMIQ

Submitted in the partial fulfillment for the academic session in

Master of Business Administration To

School of Management and Entrepreneurship

Indian Institute of Technology
Jodhpur, Rajasthan

Submitted by:

ISHITA
(M21MS034)

Under the guidance of Prof. Dr. Jitesh Mohnot

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S.no Particular
1 Title Page
2 Internship Offer Letter
3 Certificate of Completion provided by the company
4 Performance evaluation form (signed by the company official)
5 Declaration
6 Acknowledgment
7 Executive summary/Abstract (2-3 Pages)
8 Index
9 Learning Objectives/Internship Objectives
10 Main Text (Chapters)
11 References/Bibliography

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INTERNSHIP OFFER LETTER

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INTERN EVALUATION

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 ACKNOWLEDGEMENT

I want to express my gratitude to the Placement team at the School of Management and
Entrepreneurship IIT Jodhpur. I'm also grateful to LUMIQ for recruiting me for an internship and
providing me with various possibilities to develop and improve my abilities.

I want to express my heartfelt appreciation to Mr. Manish Bajaj, Head – Inside Sales, Mr. Rohit
Uniyal, Mr. Prashant Kannan, and Mr. Rohit kaundal, for their constant support, ongoing monitoring,
and encouragement throughout the internship. I must also thank Professor Jitesh Mohnot, my faculty
advisor, for his ongoing support, generous criticism, and guidance throughout the project. I'm
privileged to be acquainted with my peers, and the people who aided me in advancing my knowledge
and skills. Finally, I want to express my gratitude to my parents, who have always supported my
ambitions.

-Ishita Singh

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 EXECUTIVE SUMMARY

This report describes my project and learning outcomes from my summer internship at LUMIQ. With
so many Data Analytics companies setting up business in India, there is a growing need to provide a
robust onboarding process for the Small & Medium enterprises, which constitutes about 95% of the
country’s total industrial units and employs 40% of our workforce.

LUMIQ is setting up its operations in India and is working towards providing many financial services
to business owners through digital channels, to ensure ease of access. The project required
collaboration with multiple teams like Product, Legal, Tech, and Member support, and I worked as a
Market Researcher in the Strategy and Member operations domain.

The work included competitor analysis, product offerings, understanding, and development of a
smooth, seamless process till the completion of deals according to the guidelines followed by the
partner banks and developing the operating manual for LUMIQ.

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 ABOUT THE INDUSTRY

The years 2020 and 2021 will be remembered for the disruptions caused by the Covid-19 epidemic.
Global economies came to a halt, and sectorial losses forced many companies to close their doors,
leaving millions unemployed. These events significantly altered our social lives and had a
significant influence on the corporate world. To remain relevant, organisations implemented
considerable organisational changes and turned to big data analytics.

As huge amounts of data are analysed with the use of cloud computing, the big data analytics
market has enabled organisations to strategize solutions to support their whole life cycle of data
integration, analysis, automation, and so on. It has enabled organisations to make quick judgments
that result in a competitive advantage. Data analysts had already taken on a major position in the
pre-pandemic era, and their demand had increased during the previous year and a half. In addition
to information technology. According to the research, 96% of organisations plan to or are likely
to employ individuals with necessary abilities to fill future opportunities in this industry. Every
sector has recognised the value of data analytics in their organisation and has depended largely on
predictive analytics for future decision-making.

Industry 4.0 will benefit greatly from the use of predictive analysis and maintenance, automation
using big data analytics, and self-service systems across several IIoT platforms. Prof. Balooni adds
that integrating big data analytics, IoT, and cloud with the industry would result in increased
automation and productivity by allowing machines to make decisions based on real-time data
processing. We are watching the growth of the analytics business and eagerly await its full
potential. It has caused a paradigm change in enterprises, and the flood of competent individuals
will open up a variety of employment opportunities in the future.

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 ABOUT THE COMPANY

Lumiq is an e2e data supply chain company that helps enterprises take data-driven decisions using
AI and machine learning solutions. Our goal is to help the BFSI industry to leverage, understand
and monetize data to drive actionable insights.

Their ideas are inspired by the vision, which we like to call "our purpose" - to improve the quality
of human existence by ethically harnessing data to build a better world.

Their aim is to strive for greatness, and they are continually devoted to providing that WOW factor
for their clients, partners, and workers. We have identified the sweet spot where business,
technology, and human values may live together.

Lumiq understands the potential transformation capabilities of enterprise data optimizing the
customer experience, measuring and mitigating risks, and generating new opportunities for
revenue growth

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 ABOUT THE TOPIC

Managers need information on how the firm was working during the initial wave of analytics. Reports
and, subsequently, dashboards were created as an analytical output. These analytical systems were
frequently constructed directly on top of transactional databases or file systems.

As the use of these reports grew and new analytical demands (such as dashboards and slicing/dicing
capabilities) evolved, the natural next step was to separate the analytical needs. This is how the world's
first warehouse was founded.

Structured data from the underlying operating systems was fed into the warehouses. Following that, all
analytical queries (often SQL queries running on top of RDBMS) were done within the warehouses.

As analytical demands shifted from knowing what occurred in the past to predicting what would happen
in the future, a new age of analytics arose that focused on identifying the actions that would result in
good business results.

However, like with most things in life, comprehending "modernization" (or the future) requires an
understanding of what happened in the past and how we got to where we are today.

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 THE NEED

Modernization is essential to meet the demands of the newly emerging analytical landscape. The new
age of analytics necessitates the management and aggregation of all types of data (formatted, semi-
structured, unstructured, or streaming).

Working with current data requires the capacity to work with a variety of storage types. This includes
open and standardised formats like parquet, as well as any other columnar/row efficient storage, such as
RDBMS and NoSQL. Multiple processes can read and write since transaction support/ACID is provided.

Furthermore, API capabilities are frequently necessary so that other tools and engines, such as machine
learning code written in Python or R, may directly access the data. From a use case standpoint, one of
AI, BI, or DI must be enabled from the start.

How does LUMIQ come into the picture?

Lumiq’s approach to dealing with data. Lumiq has executed over 20 implementations of the functional
architecture across several financial services companies. The starting points for the journeys have been
AI or BI, and in some cases, modernization, but the experiences and critical learnings may be
summarised as follows:

Crawl-walk-run, and most importantly, “learn.”

Experience first. Build use case by use case but ensure that the same data is not loaded again and again.
Build like LEGO. There will always be new tools coming up and will be better than the previous ones.
Everything is a trade-off and hybrid approaches work best. It is not about cloud or on-premises. PII may
be stored on-premises and the rest of the data may be on the cloud. It is not a managed database service
on cloud vs a cloud warehouse vs a virtual machine hosting a database.

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 TOPIC RESEARCHED

List of the tasks I performed In 3 Months,

• BANK ACCOUNT PROFILING

• PRODUCT PITCH (KT) TO NEW INTERNS

• USE CASES OF INSURANCE AND BANKING

• ZOHO ANALYTICS

• AN IN-HOUSE APPLICATION OF LUMIQ USE FOR THE DELIVERY DASHBOARD

• DIGITAL MARKETING

• MISCELLANEOUS TASK

Research Methodology

The study was a mix of different research methods, the following methods were used to collect the data
and information:

Primary research: Primary research collects original information for you directly, instead of collecting
it from published sources.

- I have used information collected from the interaction with Head (INSIDE SALES), CEO, and other
Sales team
- The information regarding Onboarding (any bank or bfsi sector for product pitching.) was collected
from the onboarding analysts from the respective banks.

Secondary Research: Secondary research collects information from existing sources. - The information
regarding product offerings and pricing was taken from the websites of various banks/ fintech / third-
party service providers.

- The information regarding the regulations and policies was taken from the RBI’s Documentation and
Master Directions.

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- The web platform requirements, FAQs, and details regarding communication were collected from
various websites built to support customers and assist them through deployment processes.

Qualitative research: Qualitative research brings together opinions and attitudes.

- I have used social media data for understanding visits and reviews of competitors to understand their
products and customer service.
- The various friction points in the onboarding process were identified by reading through customer
reviews.

PROJECT DESCRIPTION

TASK 1 – Creation of Account Profiles

Key Learnings-

• Identifying the organization hierarchy of top-notch level.

• Identify companies/ Banks Tech insights and figures
• Identify Current IT Vendors and Key People of the organization involved in the transformation of the
organization
• Learned about the inside sales process and detailed Creation of P0 deck for the sales pitch
• Identify the future insights
• Market Research
• Learned to document technical sound modules into simplified version

TASK 2 – Product Knowledge to new Interns

Deep knowledge of all Lumiq products:

• Empower
• Aurum
• LightHouse
• Dhristi
• Smart UW

TASK 3 - Delivery Dashboard

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It’s a web application/portal which is totally dedicated to the delivery person (engineer team). To
monitor the resource allocation to their respective projects. Also, to monitor the milestones and dates.

Key Learnings-

• In-house portal for the delivery person

• Resources allocation
• Sales teams interaction with delivery team
• Milestone calculation

TASK 4 – ZOHO Analytics

An online customer relationship management software for managing your sales, marketing, and support in a single
system. checking all milestones and sales records in one place.

Key Learnings-

• Creating Dashboard
• Creation of reports
• valuation of Target vs Achievement
• Creation of multiple Analytics graphs for sales
• How to Improve Sales
• Identify the parameters to forcast our sales

TASK 5 – Digital Marketing

Key Learnings-

• competitor analysis based on SEO Ranking

• Identify the keywords which should be used on the website.
• list down all the essential keywords and backlinks, and external links
• work on website revamping and Twitter revamping
• Twitter and LinkedIn Post content
• Twitter hashtags, backlinks, external and internal links
• Trending topics related to the BFSI sector
• Ads- paid and unpaid
• Google / LinkedIn ads
• Increase LinkedIn as well as Twitter followers
• Digital marketing through data science
• Expert talk @ lumiq
• Interns' experience at Lumiq

TASK 6 - Companies Analysis Parameter for hiring

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Key Learnings-

• Companies were classified into three categories: best fit, dicey, and complete no.
• Best match organizations were the most ideal for employment since they fitted the Must-Have
requirements list that we produced; for Dicey, just a few parameters could meet it.
• Analyzed the company's website, articles, Crunchbase, and Linkedin pages, among other things.
• The subject of Talent Acquisition of finding the right resource in the right place was discussed.
• Learned how to create the correct parameters to choose the ideal organizations currently operating in
the same area as Lumiq.

Learning Outcome & Conclusion

o All the tasks assigned to me during my internship have been successfully completed. I
have worked on tasks that require my cross-functional partnership through strategy,
product, operations, and support teams.

o Researched & suggested appropriate channels to improvise and automate the current
onboarding process for BFSI Clients

o Explored and understood the various building blocks required to set up a new client and
data analytics company in a country like India.

o I have a good understanding of the guidelines of BFSI Sector after this internship.

The right set of technologies can support companies to build a customer-centric culture, and LUMIQ is
one such organization that has brought together all the critical components required.

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 Bibliography

https://lumiq.ai/
https://medium.com/lumiq-tech/data-platform-modernization-85128d475d2b
https://analyticsindiamag.com/analytics-india-industry-study-
2022/#:~:text=Key%20Highlights,at%20a%20CAGR%20of%2026.9%25.

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