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PARIVRIDDHI 2018

A National Referred Journal of Multidisciplinary Studies

PARIVRIDDHI is an official annual journal published by New Horizon College Marathalli,

Bangalore. The journal is multidisciplinary in nature and endeavours to promote research in

different functional areas of management and other disciplines along with issues related to

humanities, computer science, economy, industry and environment. The journal publishes

original research papers besides students’ articles, abstracts of doctoral dissertations and

major research projects, case studies, book reviews, bibliography on individual management

topics.

NEW HORIZON COLLEGE MARATHALLI or PARIVRIDDHI assumes no responsibility

for the views expressed or information furnished by the authors.

©Copyright 2015 NEW HORIZON COLLEGE, MARATHALLI

Published by

New Horizon College Marathalli, Bengaluru , India

All rights reserved.

Designed by Kiran

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#20, 2nd Cross, Gokul Nagar, Doddakalsandra,

Bengaluru - 560062

PARIVRIDDHI


CHIEF PATRON:

Dr. Mohan Manghnani, Chairman, NHEI, Bangalore, India.

EDITOR-IN-CHIEF:

Dr. R. Bodhisatvan, Principal, New Horizon College Marathalli, Bangalore, India.

EDITORIAL ADVISORY BOARD

Mr. Nagaraju Kilari, Head of the Department, BCA, New Horizon College, Marathalli, Bangalore,

India.

Dr. Bhavani Akkapeddi, An alumnus from the Department of Economics, University of Hyderabad,

India.

Dr. Pauline Mariasundaram, HOD & Professor of SEACET, Bangalore, India.

Dr. Jayasheela, Faculty, JNT University, Hyderabad and Research Associative in South India

‘Management Teachers- Consortium Global’, Bangalore, India.

Dr. A R Sainath, Faculty at the Department of Management Studies, New Horizon College of

Engineering. Bangalore, India.

Dr. V Vinothina, Doctorate from Bharathiar University, Specialized at cloud computing.

Dr. Sheelan Misra, Professor & Head of the Department of Management Studies, India.

Dr. G Sabitha, Faculty, Osmania University Hyderabad, India.

EDITORIAL TEAM

MANAGING EDITOR:

Mr. Nagaraju Kilari, Head of the department, BCA, New Horizon College, Marathalli, Bangalore,

India.

ASSOCIATE EDITORS:

Ms. Prasanna Prakash, IQAC coordinator, New Horizon College, Marathalli, Bangalore, India.

Ms. Sowmya J, Head of the Department, BBA, New Horizon College, Marathalli, Bangalore, India.

Ms. Greeshma Francis, Head of the Department, B.Com, New Horizon College, Marathalli,

Bangalore, India.

Ms. Lincy Joykutty, Sr.Assistant Professor, New Horizon College, Marathalli, Bangalore, India.

Ms. Shilpa Joshi, Sr.Assistant Professor, New Horizon College, Marathalli, Bangalore, India.

Mr. Arun Raghu Babu, Sr.Assistant Professor, Department of Management Studies, New Horizon

College of Engineering, Bangalore, India.

Mr. Rajesh Harikrishnan, Sr.Assistant Professor, New Horizon College, Marathalli, Bangalore,

India.

Ms. Selvarani Paul Raj, Assistant Professor, New Horizon College, Marathalli, Bangalore, India.

Ms. Anjana .S.Murthy, Assistant Professor, New Horizon College, Marathalli, Bangalore, India.

PARIVRIDDHI


It gives me immense pleasure to write about our journal Parivriddhi which is successively

concretising the research acumen of the aspiring researchers. I am sure in due course of time,

Parivriddhi will make its own space in the field of research and make its presence felt

through the discourses that its scholarly papers would initiate and reconstruct invocating new

processes of thoughts across the academia and young learners.

Growth and development is an inevitable part of a society which hosts enthusiastic learners

and dedicated investigators who rigorously invest their time and utilise their knowledge with

the aim to change their surroundings and enhance the competency for survival and

sustainability. Dissemination of knowledge for constructive purposes of the society and the

nation at large was envisioned by the leaders of the nation when we won freedom and

subsequently when the cause of education was formalised through the establishment of

educational institutions necessitating the inclusion of various disciplines in their curricula.

Such institutions were entitled with the burden of shouldering responsibilities through

academic interventions by people with strong knowledge bases and their abilities best

manifested in the form of research widening the scopes for improvement in all the disciplines

as the nation looked forward to prosperity through holistic growth. Issues and concerns which

are so intricately woven in any society need to be approached and resolved with multiple

strategies for a justified growth making further ways for sustainable India.

Parivriddhi being a national journal would endeavour to publish and express the issues and

concerns of the people of our country further lending audibility to the scopes wherein work is

needed or work can be continued for a better change of the society and the nation at large.

DR. R. BODHISATVAN

PRINCIPAL NHC-M

EDITOR-IN-CHIEF

CONTENTS

Slno Title and Author(s) Page No.

1. PEOPLE ANALYTICS – AN EXPLORATORY CASE STUDY

ANALYSIS OF SELECT IT FIRMS IN BANGALORE

- Dr. Radha R

1-13

2. A STUDY ON VIABILITY OF BITCOIN IN INDIAN

FINANCIAL MARKET

- G. Arun Prakash

14-20

3. DISSECTING THE FIBERS OF CROWDFUNDING

- Rachel Donald & Princy Jose

21-33

4. A STUDY ON AWARENESS AND CONSUMER

PERCEPTION ON ADOPTION OF DIGITAL WALLET IN

INDIA WITH SPECIAL REFERENCE TO BENGALURU

CITY

- Ayesha Samreen & Sharanya Murthy

34-49

5. EFFECTIVENESS OF ARTIFICIAL INTELLIGENCE IN

EASING THE BENGALURU TRAFFIC MESS WITH SMART

TRAFFIC SIGNALS

- Aman Saha

50-58

6. FORENSIC ACCOUNTING – TOOL FOR FRAUD

DETECTION IN INDIAN BANKS

- Dr. Priyanka Arora, Ms UmeraKauser

59-74

7. WOMEN EMPOWERMENT IN IT SECTORS

- Jyothi T

75-79

8. A NOVEL VOICE-BASED REAL-TIME MEDICAL

DIAGNOSTIC AND TRANSCRIPTION SYSTEM (RTMDTS) FOR

REMOTE AREAS

- Neha Yalamanchi & Sachin V

80-86

9. PROBLEMS AND PROSPECTS OF PEOPLE ANALYTICS

- Farzana M Pathan, Sumangala Talur

87-95

Parivriddhi Vol 4 | September 2018 1 ISSN: 2394-9112

PEOPLE ANALYTICS – AN EXPLORATORY CASE STUDY

ANALYSIS OF SELECT IT FIRMS IN BANGALORE Dr. RADHA.R1

ABSTRACT

The use of analytics in HR is growing with organizations aggressively building people

analytics teams, buying analytics softwares, and developing analytics solutions. HR having

moved from cost model to an investment model now has the chance to demonstrate ROI on its

analytics efforts, helping to make the case for further investment in people. Businesses have

recognized that they need data to figure out what makes people join their organisations,

perform well, and stay with the organization with loyalty. They also would like to predict who

will likely be successful; who will make the best leaders; and what is required to deliver the

highest-quality customer service and innovation. All of this can be directly informed by

people analytics to the organisation. Understanding the value delivered by people analytics,

organisations are focusing on using analytics to capture, analyse data and draw meaningful

interpretations and conclusion from these data. Google is the pioneer in using people

analytics and the HR of Google reports increase in productivity and retention of employees

and attribute the reason as use of people analytics.

This research focuses on people analytics at Google as a case study. Keeping the case of

Google as a basis, this research was conducted in select IT firms in Bangalore which use

People Analytics. People analytics used at the time of Exit interviews have been taken up for

research. Primary data was collected with the help of structured questionnaires. The findings

of the study have been presented in the form of graphs and a detailed discussion.

KEY WORDS: People or HR Analytics, Google, Structured Questionnaire, Exit Interviews

INTRODUCTION

“In God we trust, all others must bring data” - W.Edwards Deming. The use of technology

has been steadily increasing in majority of the industries and therefore analytics is gaining

prominence to use the huge volume of data generated and collected by these industries and

right now we are in the cusp of a huge analytics revolution. Organisations of today have

realised that they need big data to understand the business landscape, interpret data to make

right and meaningful decisions.

__________________

Dr. Radha.R is a Professor & Program Head at Ramaiah Institute of Management

Studies/Sciences, [email protected]


They have recognized the need for data to figure out what makes people join their

organisations, perform well, and stay with an organization without being enamoured by the

temptations thrown by other competitors. Big data analysis also helps the organisations in

making predictions regarding who will likely be successful, who will make the best leaders

and what is required to deliver the highest-quality customer service and innovation. All of

this can be directly informed by people analytics and the HR can make informed decisions

based on the choices thrown open by people analytics. Companies are hiring people analytics

staff, cleaning up their data, and developing models that help transform their businesses in

leaps and bounds. People analytics are widely used by companies to detect the flight risk of

employees, discover high performance candidates and predict engagement of the employees.

NEED FOR THE RESEARCH

A recent survey has found out that people analytics based predictive models have increased

from 4% to 8% and only 32% of the company’s world over is ready to completely embrace

people analytics. This was a startling piece of statistics and therefore this research was

conducted in select IT companies in Bangalore to find out how many of them use people

analytics and how ready these companies are to use predictive models of people analytics.

REVIEW OF LITERATURE

In his book Work Rules! (2015), Laszlo Bock, Senior Vice President of People Operations at

Google, writes that the most important instrument of Google’s People Operations is statistics.

He attributes that by using this predictive people analytics Google is able to hire committed

people and retain them in the organisation. He further states that the predictive analysis also

helps Google to identify high performance candidates.

A 2012 study revealed that it is possible to predict someone’s personality and future work

performance based on their Facebook profile (Kluemper, Rosen &Mossholder, 2012). In this

study, a number of participants gave hirability ratings based on Facebook profiles. These

ratings predicted 8% of manager-rated job performance for these people.

In 2011, two scientists at HP combined data of the previous two years and attempted to

predict who would leave the organization. By using predictive models, they generated what

they called a “Flight Risk” score. This score predicted the likelihood of leaving of each of


HP’s 300,000+ employees.According to Siegel (2013), HP was able to save an estimated

$300 million by applying HR predictive analysis in HR to calculate this flight risk.

A case-study published by Cornerstone (2015) studied the impact of toxic employees on the

workplace. Toxic employees are employees who are most likely to engage in toxic behaviour.

By using predictive analytics Cornerstone was able to list out the characteristics of toxic

employees and provide clues to the organisation regarding recruitment of these employees.

OBJECTIVES OF THE STUDY

• To study about the awareness of People analytics in select IT organisations in

Bangalore

• To focus on the usage of people analytics techniques specifically for exit interviews

and also analyse the extent to which predictive models have helped these

organisations

RESEARCH HYPOTHESIS

• “Predictive Models by People Analytics pave way for better prediction and prepare

the organisations for futuristic people management”.

RESEARCH METHODOLOGY

This is exploratory research and the basis for the entire research is the case of GOOGLE.

The study was conducted using both case study methodology and descriptive type of

methodology. The study depended on both primary and secondary data. A pilot study was

conducted to validate the questionnaire and to confirm the feasibility of the study. The

value determined was 0.914 proving the reliability of the instrument. The variables

considered for the analysis were satisfying the normal probability distribution. Based on the

pilot study, the questionnaire was modified to elicit response from the sample group.

SAMPLING SIZE AND DESIGN

The primary data was collected using well formulated questionnaire. Random Sampling

technique was used. Employees of HR department from IT industry were considered and

the response from 460 questionnaires were further analysed. The basis for the entire study

was the write up on Google about People Analytics at Google. After the HR employees read


the case of Google, the structured questionnaire was distributed to them and their response

was collected. Functions of HR on which analytics can be used include recruitment,

selection, compensation, performance appraisal till exit interviews. The focus of this study

was on use of analytics for analyzing “Separation” of employees.

The variables in people analytics used in the questionnaire related to employees leaving the

organisation, known as “separation type”, had 6 possibilities:

• Retirement: retirement reasons.

• Termination: dismissal reasons.

• Transfer: moving to another Company.

• Retrenchment/Redundancy: budget cuts’ reasons or company resizing/downsizing.

• Contract Expired: contract expired reasons.

• Resignation: voluntarily quitting.

The following write up was distributed as the case study.

“PEOPLE ANALYTICS AT GOOGLE”

“Google is the pioneering organisation using analytical, data-driven approach to its HR

system. The technology company prides itself on its ‘people analytics’ – a mix of

quantitative and qualitative data analysis that combines hard numbers with human feedback.

The company builds up employee engagement based on the feedback from employees and

the employee survey participation rate is always over 90%”

Project OXYGEN uses a mix of productivity data and employee feedback to predict the

behaviour of the employees. Productivity Metrics were calculated to determine the impact of

different leadership styles on employee engagement and productivity. From this, Google was

able to create the ‘Oxygen Eight Behaviors for Great Managers’ and used it to train and select

its company leaders. This is a process that can be easily adopted by other companies for

improving leadership skills, team cohesiveness, employee engagement and productivity.

In Project ARISTOTLE, the people analytics strategy was applied to entire teams in the

company, determining which teams was the most effective. The combination of hard data

with human experience allowed for analysis that went beyond performance statistics to assess


team leadership, cohesion and other qualitative factors that helped certain teams outperform

others.

GOOGLE has been using People Analytics for increasing performance and improving

organisational performance. Is your organisation using PEOPLE ANALYTICS?

Why only EXIT INTERVIEWS were considered?

Companies invest huge amount of money for recruitment, selection, training, development

and maintenance of employees in the workplace. The intention of the company while making

the investment in people is that the employees will be there for a long haul. But, if the

employees decide to quit, the companies should know the reasons for employee exit. These

interviews conducted at the time of employees leaving the organisation are known as Exit

Interviews. If the companies know the reasons for the exit of the employees, they can address

the problems at least in future. Exit interviews provide valuable feedback to the organisation

because the exiting employee will have no qualms in honestly listing all the problems he

faced and he may also provide valuable pointers towards anomalies in the organisation.

Exit interviews focus on three key issues: why the employees are leaving, what they liked

about the company and what they didn’t like about the company. In this research the

focus was only on exit interviews and the structured questionnaire included questions on

• Personal profile of the employee including age and gender

• Job position held by the employee, role, responsibilities

• Tenure of the employee and his /her experiences in the Workplace

• About the organisation, his/her terms of employment and his grouse regarding

terms of employment

• Orientation and Reasons for leaving the organisation

VARIABLE ANALYSIS: The following are the number of respondents who have stated the

various reasons for quitting the organisation during the exit interviews


Table 1 – Reasons for Employees quitting the Organisation

Particulars No. of Respondents Percentage

Resignation 290 63%

Retrenchment 79 17%

Retirement 45 10%

Transfer 35 7%

Termination 11 3%

Total 460 100%

Source: Primary Data

Reasons for Employees quitting the Organisation

The main reason stated by the employees for quitting the organisation was “Resignation” or

voluntarily quitting amongst 63% of the respondents. The next important reason for quitting

the organisation was retrenchment by the company and the reasons were general sluggishness

in the economy and the number of projects from western countries drying up. The other

reasons included retirement, termination and transfer to sister concerns. When the company

analyses this data, they are able to find out what is wrong and why the employees are leaving

the organisation. Once the reasons are known, proactive action can be taken by the

organisation to curb employees leaving the organisation.

Resignation63%

Retrenchment17%

Retirement10%

Transfer8%

Termination2%

Reasons for quitting


Table 2 : Reasons for quitting based on the gender of the Employees

Particulars No. of Respondents Male Respondents Female Respondents

Resignation 290 210 80

Retrenchment 79 74 05

Retirement 45 38 07

Transfer 35 28 07

Termination 11 11 0

Total 460 361 99


When people analytics was used to analyse separation type and its relationship to the gender

of the employees, the analysis has thrown open quite a lot of information which can help the

organisation during times of recruitment and selection. Resignation, retrenchment,

termination and transfer were high amongst the male employees whereas it was very less and

almost not significant amongst the female employees. Termination was not at all the reason

amongst the female employees. If the companies want to take this cue, female employees are

more dependable both in terms of retention as well as organisational citizenship behaviour.

210

74

38 2811

80

5 7 7 0

Resignation Retrenchment Retirement Transfer Termination

Reasons for Quitting based on the Gender of the Employees

Male Respondents Female Respondents


Table 3: Reasons for quitting based on the age of the Employees

Age of the

Employees

Male Respondents Female Respondents

21-30 years 240 61

30-40 years 79 38

40-50 years 42 0

Above 50 years 0 0

Source : Primary Data

Analysis of data on quitting the organisation based on the age of the respondents has given a

lot of information and has thrown open a lot of facts which can help the organisations select

the right kind of candidates in the right age group. Data analysis has revealed that male

respondents in the age group of 21 to 30 years are prone to frequent quitting followed by the

age group of 30 to 40 years. Interestingly the data has revealed that compared to male

employees female employees in the same age group of 21 to 30 years had quit less

frequently. Interestingly, male employees quit less between 40 to 50 years. Both male and

female employees did not quit when they were above 50 years.

REASONS FOR EMPLOYEE RESIGNATIONS

Since the major separation of employees occurred due to employee resignations, further

analysis was done to find out the main reasons contributing towards the resignation of

employees. The results of the analysis is as follows

21-30 years 30-40 years 40-50 years Above 50 years

240

79 420

61

38

00

Response based on the Age

Female Respondents Male Respondents


Table 4: Reasons for Resignation of Employees


An analysis of the major reasons that pushed the employees to resign their jobs has revealed

that the most important reason is dissatisfaction with the employer. People analytics has

given the clue to the organisations that employee welfare should be considered as priority

because if that is done major resignations can be avoided. The next major reason is job

dissatisfaction. By adding more motivators on the job, making the job more challenging and

interesting can reduce the level of job dissatisfaction which in turn can reduce the percentage

of resignations.

2810

510

55

3045

55115

Others

Maternity

Career Change

Health

Too much travel

Dissatisfaction with Employer

Reasons for Resignation of Employees

No. of Respondents

Reasons for Resignation of Employees No. of Respondents

Dissatisfaction with Employer 115

Dissatisfaction with the Job 55

Too much travel 45

Decision to Study further 30

Health 05

Family/Personal 05

Career Change 10

Becoming an Entrepreneur 05

Maternity 10

Conflicts 08

Others 02


Association between Employees quitting the organisation and lack of

induction/orientation and training

Statements Strongly

Agree

Agree Neutral Disagree Strongly

Disagree

I would not have quit the

Organisation if there was a proper

induction program

60 50 0 40 310

I did not feel connected to the

Organisation because I was not aware

of procedures, processes

245 130 0 50 35

I would have stayed in the

Organisation if there was adequate

training

355 65 0 50 20


0 100 200 300 400

StronglyDisagree

Disagree

Neutral

Agree

Strongly Agree

I would not have quit the Organisation if there was a proper induction programme

I would not have quit the Organisation if there was a proper…




Analysis of association between employees quitting the organisation and the level of

induction/orientation has revealed that the employees did not feel that more or proper

induction would have made them stay back in the organisation. But, the employees felt that

proper training and adequate training would have made them more suitable for their job roles

and align better with the organization.

0 75 150 225 300

Strongly Disagree

Disagree

Neutral

Agree

Strongly Agree

I did not feel connected to the Organisation because I was not aware of procedures, processes

I did not feel connected to the Organisation because I was not aware ofprocedures, processes

0 100 200 300 400

Strongly Disagree

Disagree

Neutral

Agree

Strongly Agree

I would have stayed in the Organisation if there was adequate training

I would have stayed in the Organisation if there was adequate training


FINDINGS AND SUGGESTIONS

People Analytics used by the IT organisations has thrown light on the following findings in

relation to “Separation of Employees”.

Employees in the age group of 21-30 years have a high flight risk. Therefore, the IT

organisations should ensure that they have loyalty plans and other incentive programs for

these employees to motivate them to stay in the organisation

Male employees have exhibited a tendency to quit the organisation when compared to the

female employees. Therefore, a further survey to read the minds of the male employees and

to ensure that they love their jobs and the workplace should be initiated.

The analysis has revealed that the induction and orientation programs have not been very

effective to stop the employees from quitting. Therefore, measures have to be taken by the

organisations to have sensible and meaningful induction programs to put the new employees

at ease and ensure that they fit well in to their jobs at the earliest.

It has been found out that the major reason for employee resignation has been dissatisfaction

with the employer and dissatisfaction with the job. To ensure that there is job satisfaction

intrinsic motivators have to be added to the job. A survey to find out the reasons for

dissatisfaction with the employer also has to be conducted.

CONCLUSION

The objective of this study is to show that use of people or HR analytics allow the analysis

and interpretation of a data set, in this case about employees’ exit interviews of IT

organizations, drawing conclusions that turn into effective actions. Although this case study

is focused on IT industry data set, people analytics can be used in any industry. HR analytics

can unlock the power of employees in an organisation, provide insight into the minds of the

employees and work for the retention strategies of the organisation.


REFERENCES

1. Ajzen, I. (1991). The theory of planned behavior. Organizational Behavior and

Human Decision Processes,50, 179–211.10.1016/0749-5978(91)90020-T

2. Angrave, D., Charlwood, A., Kirkpatrick, I., Lawrence, M., &Stuart, M. (2016).

HR and analytics: Why HR is set to fail the big data challenge. Human Resource

Management Journal,26, 1–11. doi:10.1111/1748-8583.12090

3. Becker, B. E., Ulrich, D., &Huselid, M. A. (2001). The HR scorecard: Linking

people, strategy, and performance (1st ed.). Harvard Business Press.

4. Davenport, T. H., Harris, J., &Shapiro, J. (2010). Competing on talent analytics.

Harvard Business Review,88, 52–58.

5. Harris, J. G., Craig, E., &Light, D. A. (2011). Talent and analytics: New

approaches, higher ROI. Journal of Business Strategy, 32, 4–13.

6. Lawler III, E. E., Levenson, A., &Boudreau, J. W. (2004). HR metrics and

analytics: Use and Impact. Human Resource Planning,27, 27–35.

7. Impact of Toxic Employees in Workplace – Cornerstone 2015

8. Predictive Analytics in Human Resources – Kluemper, Rosen & Moss holder,

2012

9. Work Rules – Laszlo Bock, Senior Vice President of People Operations at

Google.


A STUDY ON VIABILITY OF BITCOIN IN INDIAN FINANCIAL

MARKET G. ARUN PRAKASH2

ABSTRACT

The way bitcoins come into existence about cryptocurrencies. In past few months, we are

observing a lot of controversy on the data structure of Bitcoin. So, “what’s bitcoin?” this is a

question arises in everyone mind. Bitcoin is cryptocurrency created as a reward for a process

known as mining. Mining is a process of adding deal records to public ledger of post-

transaction or blockchain to rest of the network as having place They can be exchanged for

other currencies, products, and services. which was created by an unknown person or group

of people under the designation Satoshi Nakamoto. So, what made it as a big controversy? It

was the value of bitcoin in the market is highly unstable. In 2010 1 bitcoin was around 5000

INR but in present 2018 its worth went more than 10 lakhs. Now we know why there is a big

fuss about bitcoin

KEYWORDS: Bitcoin, blockchain, cryptography, economy

INTRODUCTION

Bitcoin is a digital currency emitted through the process mining Bitcoins recent growth has

made the money a household name, the idea and technology behind the money has existed

since 2009. Bitcoin was shaped by a programmer, or group of programmers, calling

themselves Satoshi Nakamoto. No individual or group has ever come forward to claim

ownership for creating Bitcoin’s code or identified themselves as Nakamoto. In the original

paper explaining the currency, A Peer-To-Peer Electronic Payment System, Nakamoto

described the digital currency as a reward for mining.

Bitcoin Works person container usage bitcoins towards making expenditures to other

individuals or brokers without including a third-party, like banks, financial institution, for

authentication. As a replacement for, transactions are cleared and validated within the system

through the blockchain.

__________________

2G. Arun Prakash as a student at the Department of Business Studies IFIM college,

Bangalore


Bitcoin mining is the course of adding transaction deals to the public book of post-transaction

or blockchain to rest of the network as having a place. The blockchain is a public ledger that

records and publicly displays all bitcoin transactions that have been executed within the

Bitcoin system. A block is a permanent record of recent transactions. The blocks of recorded

data build upon each other to form the blockchain which dates all the way back to the first

bitcoin transaction.

The bitcoin transaction for transfer of value among wallets that gets comprised in the

blockchain. B-wallet keeps secret segment of data called has the private key, which remains

used toward sign dealings if mathematical resistant that they have come from the owner of

the wallet.

Bitcoin is an open software it refers that no company, no person & no country owns this

network. The system is peer to peer its users can transact directly without any third-party like

bank, credit card company.

LITERATURE REVIEW

BITCOIN: A Peer-to-Peer Electronic Cash System by Satoshi Nakamoto (the paper show

how bitcoin in the various way of the system). Role of Bitcoin on Economy Oct 2014

AnuSinghal it’s to oversee the impact on society with a special emphasis on Dubai. The

overall response is mixed towards different variables from various groups in the sample. This

paper highlights and deliberates the problems on both sides of bitcoin particularly in the

interest of monetary institutions and economists with a prospective alteration, with a request

of advanced technology, and revolt with a digital money. “Bitcoin” As Emerging Virtual

Currency and Its Related Impact on India July 2017 C.A. Pramod Kumar Pandey the

investigation overlooks at Bitcoins underlying technology blockchain& to evaluate its impact

in India. Bitcoins-A Global Perspective Indian Legal and Tax Considerations April 2015 by

Nishith Desai Associates (NDA) it displays the expressions of bitcoin in several countries.

Impact of Bitcoin as a World Currency A. Seetharaman the research sees the various

exchange rate & more views on bitcoin. Bitcoin: Implications for the Developing World Nov

25, 2015, by Makaria Krause the paper overlooks at all the legal cons. Bitcoin is likely to be

able to send and receive currency from wherever in the world at any given time.


The worry about crossing limits, postponement for bank breaks or any other limitations on

transaction of b-money’s and B-walletPermits the operators to be in control of their dealings

assistance keep Bitcoin safe for the net & Brokers cannot charge extra fees on anything

without being noticed They need to convert with the customer before adding any charges.

Since personal information is kept concealed from prying eyes, Bitcoin protects against

identity robbery.Bitcoin wallet can be encrypted to ensure the safety of the wallet holder

Information is Translucent With the blockchain, all confirmed transactions are obtainable for

everyone to see, however, personal gen is hidden. Operators public address is what is visible;

however, Operators personal information is not knotted to this.Anyone can confirm

transactions in the blockchain.Bitcoin process cannot be operated by any person, organization

or government. it's due to Bitcoin being cryptographically secure. At Present, there is no fees

or low fees for Bitcoin payments. By transactions, operator’s strength includes fees to process

the transactions sooner. The higher the fee, the more important it gets within the net and the

earlier it gets processed. Digital money is a trade to help the commercial process dealings by

changing bitcoin for fiat currency. This services normally take low fees than PayPal or credit

card. Since B-wallet dealings can’t be upturned, do not convey with them personal

information, and are secure, wholesalers are protected from potential losses that might occur

from fraud. With B-wallet, brokers can do commercial where lawbreaking rates and fraud

rates may be high. it’s because bitcoin is extremely hard to cheat or scam anyone in Bitcoin

due to the public ledger, then known as the blockchain. b-wallet cannot be frozen like any

normal bank account or e-wallets critical situation it could be frozen by the higher authorities

because bitcoin cannot be frozen due to not having any central authority or any individual.

METHODOLOGY

The data used in the research is based on secondary data through articles, web pages, books,

investigation paper.

PRIMARY DATA: Oral Information through Tele interview from financial teacher & C.A

in Bangalore.



To realize the concept of bitcoin

To understand challenges created by bitcoin to the Indian economy

To analyse bitcoin’s fluctuating value in the market

THE WAYS TO GET BITCOIN

Obtaining bitcoins and learning to use the Bitcoin system is a comparatively upfront process.

The four important ways to obtain bitcoins include:

TRANSACTIONS: Persons and merchants can elect to obtain bitcoins as payment for goods

and services reduced or for peer-to-peer payment transfers.

DIGITAL CURRENCY EXCHANGES: A digital currency exchange functions in alike

fashion to outdated authorization currency exchanges, allowing individuals to buy and sell

bitcoins at the prevailing market rate. The exchange rate of bitcoins varies based on demand,

liquidity and various other market conditions.

MINING: Miners are the backbone of the Bitcoin ecosystem. They receive monetary

rewards in bitcoin for the services they provide for the network. This includes solving the

algorithms necessary to process transactions, Bitcoin mining is the process of adding

transaction deals to public ledger of post-transaction or blockchain to rest of the network as

having a place

BITCOIN ATM: B-ATM is a progressively popular solution for buying the digital currency

because of their convenience and simplicity. Creating a transaction at a bitcoin ATM is

straightforward. ATM users first verify their b-wallet by scanning a QR code on their

smartphone. Then insert cash into the ATM and succumb to complete the transaction. The

appropriate number of bitcoins are then transferred to their wallet based on the current

conversation rate


FACTORS AFFECTING BITCOIN IN INDIA

LACK OF AWARENESS: Fact is several people are still unaware of digital currencies and

Bitcoin. Persons must be cultured about Bitcoin to be clever to apply it to their lives.

Schmoozing is a must to spread the word on Bitcoin. Trades are accepting bitcoins because of

the advantages, but the list is relatively insignificant compared to physical currencies.

Companies like TigerDirect and Overstock Compliant Bitcoin as payment is great. However,

if they do not have a well-informed staff that comprehends digital currencies, how will they

help customers comprehend and use Bitcoin for transactions? The workers essential to be

educated on Bitcoin so that they can help the clientele. This will take some time and effort.

Sources:http://proxy.markets.businessinsider.com/cst/MarketsInsiderV2/Share/chart.aspx?ins

truments=300011,675,149,333&style=intraday_index_colortripleblau_early&period=OneYea

r&timezone=Eastern%20Standard%20Time&height=90&width=149

RISK AND VOLATILITY ORFLUCTUATING IN VALUE: Bitcoin has volatility

mostly since there is a limited quantity of coins and the demand for them rises by each

passing day. However, it is expected that the volatility will decrease as more time goes on.

By way of more businesses, media, and trading centres begin to accept Bitcoin, its’ price will

eventually settle depressed. Currently, Bitcoin’s price bounces every day mainly due to

current events that are related to digital money.

STILL DEVELOPING: Bitcoin is still at its beginning stage with incomplete features that

are in development. To make the digital currency more secure then accessible, new features,


tools, and services are currently being developed. Bitcoin has some development to do before

it comes to its full and last potential. This is due Bitcoin remains just preliminary out then it

needs to work available its challenges just like how any currency in its starting stage would

need to.

POSITION OF BITCOIN IN INDIA

The Constitution of India provides for matters in respect of which the Central Government

has powers to regulate and legislate. To understand if Bitcoin is capable of government

review, an analysis of the Indian Constitution has been undertaken. In this regard, Article 246

read with Seventh Schedule of the Constitution enumerates the list of activities that the

Central Government and the State Governments can legislate.

Sources: https://www.usethistip.com/what-is-bitcoin-how-does-bitcoin-work.html

THE CHALLENGES CREATED BY BITCOIN TO THE INDIAN ECONOMY

In the Indian situation, the issues have been mostly legal using bitcoins in money laundering

and transactions for acts of terrorism are the challenges in the use of bitcoin as legal tender.

Money laundering possibilities Bitcoin transactions are highly uncontrollable. The random

nature of the cryptocurrency creates many dodges for Banks and other financial Institutions

from a process angle. Tracking individual transactions that happen using Bitcoins can hurt

economic activities paving way for money laundering and other such illegal activities the

income tax division has asked 5-6 lakhs high net worth people to explain the details of


investment and sales of bitcoins and other cryptocurrencies in India and abroad & bitcoin

doesn’t any centre in charge, so it cannot be taxed. Investors essential to have complete

information on the legal and security features as well as the volatile nature of the bitcoins.

The growth of the digital currencies has enticed the impostors to lure people into Ponzi

systems. Seeing the complexity of Indian economy, bitcoins may turn out to be a boon to

India or a disaster. This rest on their extent of use allowed by governments of the world.

CONCLUSION

The study on the feasibility of bitcoin in the Indian economy has concluded with the

overview of bitcoin review that risk is equivalent to the aid factory for India but it all so

create a lot of opportunity in various scope for mining, blockchain, cryptography nevertheless

there still must have an in-depth investigation towards bitcoin in India.

REFERENCES

1. Bitcoin Starter Guide (Bitcoin Basics and Benefits) it bit education

2. yourstory.com/author/Rajendra-k-Sinha

3. Impact of Bitcoin as a World Currency A. Seetharaman [1], A.S. Saravanan [2], Nitin

Patwa [3] &Jigar Mehta [4]

4. Bitcoins-A Global Perspective Indian Legal and Tax Considerations by Nishith Desai

Associates (NDA)

5. quora.com/What-are-the-advantages-and-disadvantages-of-using-bitcoin/Siddhar-devraj-

6. Bitcoin: Implications for the Developing World Nov 25, 2015, by Makai Krause

7. Crypto Currency a Need after Demonetization in India Nishad Girish Chavan [1], Prof.

SmitaKapase [2]


DISSECTING THE FIBERS OF CROWDFUNDING RACHEL DONALD3 & PRINCY JOSE4

ABSTRACT

Crowdfunding is a form of alternative sourcing of capital usually from a large number of

people via Internet. This new form of funding involves an initiator with a project, a group of

investors appealed by the project idea and a platform that brings both the parties together. A

successful crowdfunding not only generates cash, but also creates a customer base who feels

they have a stake in the business. There are a lot of factors that ensures a successful

campaign like a clear picture of the project, a network already in place and perks or rewards

in exchange for the donations. The paper focuses on equity based financing which results in

the construction of a company with offerings on the initial investment.

Crowdfunding is limited to giving donations and loans. The Securities and Exchange

Board of India (SEBI) claims the Indian public lacks adequate investment knowledge or

experience and requires strict protection. It has recently sidelined an incomplete aim to

create a regulatory framework for investment crowdfunding, and equity crowdfunding in

India remains on hold.

The research will include a study of the awareness of crowdfunding in India. The

paper will also compare a list of selected ten companies and its products on the basis of its

success on Kickstarter, along with unsuccessful companies on the same. The paper will

conclude with an outline of generalization that would lead said businesses to success.

KEYWORDS: Crowd funding, financing, campaign, business plan, investing

INTRODUCTION

Crowdfunding, though sounds new, has been there throughout the ages, with roots traced

back to the 18th century. The term is an umbrella term used for collections from the public for

a social cause. The term connotes community or interest-based pooling of funds, to support

cases, where funds are raised through donations to help authors publish books, research,

music releases, etc. The method was eventually put in practice by way of donations mostly in

the arts industry.

__________________

3Rachel Donald as a student, Department of MBA,JyotiNivas College,

Bangalore,[email protected]

4Princy Jose as a student, Department of MBA, JyotiNivas College, Bangalore,

[email protected]

http://www.business-standard.com/article/markets/sebi-likely-to-scrap-crowdfunding-norms-116072601638_1.html

http://www.business-standard.com/article/markets/sebi-likely-to-scrap-crowdfunding-norms-116072601638_1.html

mailto:[email protected]



It can also be understood as a method of micro financing through the internet for the

support of ventures. It is thus defined as “The efforts by entrepreneurial individuals and

groups-cultural, social and for profit-to fund their ventures by drawing on relatively small

contributions from a relatively large number of individuals through the Internet, without

standard financial intermediaries (Mollick, 2014).Crowdfunding finally found a way into a

tentative business in the present times with the launch of ArtistShare in 2001, which was the

first fan-funding platform, eventually maturing into various successful sites with the

introduction of Indiegogo (2008), Kickstarter (2009), GoFundMe (2010), etc. There are

traditionally four types of crowdfunding .

SOURCE: IOSCO Staff Working Paper - Crowd-funding: An Infant Industry Growing Fast,

2014

Donation based crowdfunding is the classic method of sourcing finance, where the

donors usually accept little or nothing in return. It is for non-profit or social causes which can

be exchanged for social recognition as well. Whereas, reward based crowdfunding entails the

benefit of the product or service. It is the most popular type of crowdfunding suitable for

entrepreneurs who are unable to get traditional loans, particularly in the creative fields. Most

of the contributors turn out to be family, friends, customers and business partners, with

particularly small donations and often shared on social media in hopes of the campaign to be

shared by other followers. It is one of the cheapest ways of raising capital with no collateral

required, business owners often retain the equity and helps establish a customer base along

with brand awareness. On the other hand, due to the nature of funds, it isn’t always reliable

for large amount of funds.

At times, if the goal is not attained, the amount may be forfeited, also lead to exposure of

creative ideas to the public which can be avoided by the protection of patents. Debt based

crowdfunding is more on the lines of lending on the basis of returns in the form of interest on

the loan. This is a form of peer-to-peer lending. Equity-based crowdfunding on the other hand

refers to funding in exchange for shares in the company (usually unlisted). An investor can

see returns through trade sale, should the company be sold to another company where the

Donation-based

crowdfunding

Reward-based

crowdfunding

Debt-based

crowdfunding

Equity-based

crowdfunding

Crowdfunding


money is distributed among the shareholders; through public offering if the company gets

listed on a stock exchange and through dividends where sometimes, a company pays a certain

percentage of their yearly profits to the shareholders. The downside is of course that if the

company fails, then the investor loses some or all of their investment. In certain countries like

the UK, relief from taxes is also provided, depending on the laws of the land.

When we look at financing for ventures, we tend to look at loans from banks, venture

capitalists, angel investors, taking the more traditional approach. Any additional capital by

the means of issue of shares is done once the company is formed, up and running; it’s

profitable and is listed under any exchange. In India however, start-ups can have

crowdfunding either in the form of donation-based funding or debt-based funding or reward-

based funding. This is due to the fact that solicitation takes place after a business becomes

viable. Thus, making it fall out of the purview of market regulation.

Start-ups can get funded either offline or online through various platforms requiring effort in

campaigning and publicizing themselves. These platforms allow for evaluation of the

business plan, provide feedback on the interest of the masses towards the product or service,

popularize the brand and also provide an opportunity of learning. It also means that there is a

risk of exposure of the business idea to the public, a risk of failure of the venture and fraud.

LITERATURE REVIEW

There are various studies which throw light on the changing face of securities market

with the introduction of JOBS Acts. However, due to the novelty of the project there is a

limitation to the literature available. Even with this hurdle, there are still a large number of

authors who have looked at the various facets of Crowdfunding. Here are some of the

journals and books referred.



One of the main objectives of the research paper was to study the level of awareness

about Crowdfunding among the general public in India. Hence, we compiled and collected

responses from a random sample of 100 respondents. The paper tries to understand the first

response of the sample towards the awareness of the population. Hence, the survey is a cross-

sectional survey putting in use simple random sampling.

Since part of the paper was also an exploratory research, heavy importance was given

to various journals, research papers, excerpts from books, magazines and related websites.

OBJECTIVES

• The paper aims at throwing light on the awareness among the general public.

• A study of selected successful as well as unsuccessful ventures which built their

capital base through crowdfunding on Kickstarter in order to understand viable

business ventures on Kickstarter.

ANALYSIS AND INTERPRETATION

PART 1

The following charts will display the responses of the respondents who participated in a short

survey conducted to check the awareness level among the general public in Bangalore on

crowdfunding.


CHART 1

There is a region of 67% of the respondents who have either heard or read about

crowdfunding, leaving the rest 15% completely unaware about it and a mere 4% of the

population who actually knows about it and how it works.

CHART 2

This question was important to understand that Crowdfunding is not generally talked about,

this can also be interpreted as a low understanding and knowledge of how financing works

and can be attained.


CHART 3

This chart particularly looks at knowledge sharing, where 41% of the respondents heard

about crowdfunding through word-of-mouth and 42% through the internet. Thus, allowing it

to be viewed as the need for it to come out in the light as a viable financing option to the

public. In the past years, we have seen a lot of innovative creations but while reading their

stories there is a common thought of how to get financing, this is where most of the time

banks step in for loans.

CHART 4

This chart gives a clear idea that though people know about crowdfunding, there is a clear

knowledge gap in the process and legality of crowdfunding.


CHART 5

Donation-based crowdfunding tops the charts, with litigation based crowdfunding, software

token value and debt based crowdfunding as the least popular type of crowdfunding.

CHART 6

This chart is particularly important to see that the sample has a 50-50 chance of wanting to

opt for crowdfunding as a source of finance. This also throws light on the fact that though

there is a basic knowledge about crowdfunding, the masses still do not understand the

implications, legality and legitimacy of crowdfunding.


CHART 7

Here, again there is a fear of novelty and change, where people are still willing to trust

traditional investors like banks, VC and loans as a more reliable source of finance.

CHART 8 CHART 9

The chart 8 and chart 9 shows the demography that the survey was answered by, with a

maximum of student and young professionals, and a few coming under the age group of

retired and business owners.


PART 2

Successful Reasons Product Unsuccessful Reasons2

Bragi Personal Assistant Earphones CrazyBaby Better features already provided

Dwarven

Forge

Fully compatible,

durable modular

gaming terrain

Gaming Myth

Journeyman Failed to attract gamers

Elevation

Lab

Adjustable system

with charging feature

Mounting

docks Grovemade

Only business for Apple

products

Exploding

Kittens Quirky card games Cards Brand Deck

Unable to excite gamers

Inexile Amount reserved for

future projects Gaming Psychonauts

Repetitive games

M3D

Interactive, auto

levelling and auto

callibration

3D

printers Tiko 3D

Company did not keep margins

for rejects, rebuilds, marketing

and sales

Oculus

Rift Innovative product

Virtual

Reality

headsets

Cmoar

Not completing prototype for

mass production, improper use

of funds

Peak

Design

Organizers and

innovative bags Gear bags -

Damaged equipment

Pebble

Marketing Strategy-

Direct response

Television

Smart

watch ZeTime Products not given to backers

and had faulty software

Wobble

Works Innovative concept 3D Pen Lix

Failed on delivering products/

delivered faulty products

FINDINGS

• Most of the respondents were not aware of how crowdfunding works.

• Since we looked at start-ups on Kickstarter, businesses were not successful due to the

business strategies not being able to attract enough potential sponsors.

• Through an effective and efficient crowdfunding strategy on various platforms we can

avoid the hustles of approaching banks and long procedures for obtaining finance, as

well as creating a base for potential customers.


• Over promise and under delivery hampers the growth of a business. Since

crowdfunding takes place on a social platform it also damages the reputation of other

similar businesses.

• Capital planning should consider the need for regular developments in research and

developments of products.

SUGGESTIONS

• With the advent of social media, reach towards a larger portion of the population

worldwide has become much easier than a few years before. Hence, such

crowdfunding platforms have the opportunity to market themselves on these available

social media platforms which is not harnessed yet.

• Prototype must always be ready for mass production, for delivery without any

hiccups.

• Campaign goals must be over the estimated costs, in order to keep the operation

margin under control.

• Businesses should also consider a simultaneous marketing of the product outside the

realm of crowdfunding platform as soon as the product hits the market.

• Business should plan out the costs, production time and delivery factor before

campaign. This will provide a realistic picture of the business to the investors.

CONCLUSION

In the study, we created a survey of 10 questions with a sample size of 100 respondents. The

survey was given out in the city of Bangalore, India in order to assess the awareness of

Crowdfunding. The survey clearly showed that though the platforms for Crowdfunding have

been available for more than 10 years now, there is still very little knowledge about it. The

respondents ranged from students to professionals as well as business owners; however, there

is a lack of creative financing.

There have been a number of innovative solutions created by ordinary people but most of

them do not see the light simply due to lack of funds. Most of the entrepreneurs look at

traditional type of financing, keeping it restricted to bank loans which are ever popular,

venture capitalists and angel investors.


Due to this lack of knowledge, most people are still skeptical and almost fifty percent of the

respondents do not find Crowdfunding a viable option.

So, by this research we can say that crowdfunding is a platform to finance a business idea and

to project it to the public by a creative and eye-catching display of the campaigns, providing

rewards to the backers of the funding and also to fulfill the greater purpose of the campaign.

Crowd funding has also proved to be a great platform to be the sourcing body for the

potential customers and growing the audience.

When we look at both the sides of the coin, it’s apparent that some companies are successful

and some fail though they are producing the same product. This reflects more on the actual

business process. There’s no denying that when it comes to start-ups as such platforms such

as Kickstarter and Indiegogo are wonderful, but having a product is not enough. A proper

business plan must be in place, a well thought out operations and logistics should be put in

place.

Another big mistake these companies made, was not planning enough finance for the R&D

and not having a finished, working prototype which was ready for mass production and

delivery. When these companies fail to deliver to their backers, it not only affects the

company, it also affects any other start-up which is looking for funding on such platforms,

because at the end of the day Crowdfunding is based on the ‘trust’ factor. The trust and

goodwill, built and maintained by the backers and the founders of the business respectively

determines the level of success in the campaigns on Kickstarter and all the other

crowdfunding platforms.

REFERENCES

1. https://www.bragi.com/

2. http://www.dwarvenforge.com/

3. https://www.elevationlab.com/

4. https://www.explodingkittens.com/

5. https://inxile-entertainment.com/

6. https://3dprint.com/146200/m3d-pro-kickstarter-campaign/,

7. https://3dprint.com/tag/failed-kickstarter-campaigns/

8. https://www.oculus.com/

https://www.bragi.com/

http://www.dwarvenforge.com/

https://www.elevationlab.com/

https://www.explodingkittens.com/

https://inxile-entertainment.com/

https://3dprint.com/146200/m3d-pro-kickstarter-campaign/

https://www.oculus.com/


9. https://techcrunch.com/2016/09/08/peak-design/

10. http://adage.com/article/digitalnext/brands-learn-pebble-time-s-kickstarter-

launch/297415/

11. https://www.kickstarter.com/projects/getpebble/pebble-e-paper-watch-for-iphone-

and-android

12. http://the3doodler.com/

13. https://www.crowdfundinsider.com/2017/02/96583-went-wrong-creator-micro-3d-

printer-provides-perspective-tiko-3d-failure/

14. https://www.kickstarter.com/projects/706938033/cmoar-virtual-reality-headset-with-

integrated-elec/description

15. https://support.peakdesign.com/hc/en-us/articles/203702175-Anchor-Strength-

Anchor-Wear-Anchor-Engineering

16. https://community.fitbit.com/t5/Android-App/Fitbit-Pebble/td-p/1828877

17. http://bgr.com/2016/12/07/pebble-kickstarter-fitbit-acquisition-pebble-core/

18. https://dev.fitbit.com/blog/2018-01-24-pebble-support/

19. https://techcrunch.com/2018/01/24/fitbit-throws-pebble-owners-a-bone-with-six-

more-months-of-support/

20. https://www.kickstarter.com/projects/1282890542/zetime-worlds-first-smartwatch-

with-hands-over-tou/comments

21. https://www.kickstarter.com/projects/2140281637/cronovo-inc/posts/20003163d

22. https://www.kickstarter.com/projects/danieledwards/renegade-the-worlds-first-3d-

pen-to-run-on-plastic/comments

23. https://www.kickstarter.com/projects/lix3d/lix-the-smallest-3d-printing-pen-in-the-

world/updates

BOOKS

1. Ajay K. Agrawal, Christian Catalini, Avi Goldfarb, The Geography of Crowdfunding

NBER Working Paper No. 16820, Issued in February 2011

2. Ajay Agrawal, Christian Catalini, Avi Goldfarb, Some Simple Economics of

Crowdfunding, Innovation Policy and the Economy, Vol. 14, No. 1 (January 2014),

pp. 63-97, Stable URL: http://www.jstor.org/stable/10.1086/674021

3. Brendan McEvilly, Crowdfunding, Books Ireland, No. 368 (July/August 2016), pp.

20-21, Consultation Paper on Crowdfunding in India,

4. Digital media in public archaeology (pp. 60-72), Chiara Bonacchi,

https://techcrunch.com/2016/09/08/peak-design/

http://adage.com/article/digitalnext/brands-learn-pebble-time-s-kickstarter-launch/297415/

http://adage.com/article/digitalnext/brands-learn-pebble-time-s-kickstarter-launch/297415/

https://www.kickstarter.com/projects/getpebble/pebble-e-paper-watch-for-iphone-and-android

https://www.kickstarter.com/projects/getpebble/pebble-e-paper-watch-for-iphone-and-android

http://the3doodler.com/

https://community.fitbit.com/t5/Android-App/Fitbit-Pebble/td-p/1828877

https://www.kickstarter.com/projects/danieledwards/renegade-the-worlds-first-3d-pen-to-run-on-plastic/comments

https://www.kickstarter.com/projects/danieledwards/renegade-the-worlds-first-3d-pen-to-run-on-plastic/comments

https://www.kickstarter.com/projects/lix3d/lix-the-smallest-3d-printing-pen-in-the-world/updates

https://www.kickstarter.com/projects/lix3d/lix-the-smallest-3d-printing-pen-in-the-world/updates

http://www.nber.org/people/ajay_agrawal

http://www.nber.org/people/Christian_Catalini

http://www.nber.org/people/avi_goldfarb

https://www.jstor.org/action/doBasicSearch?si=1&Query=au%3A%22Ajay+Agrawal%22

https://www.jstor.org/action/doBasicSearch?si=1&Query=au%3A%22Christian+Catalini%22

https://www.jstor.org/action/doBasicSearch?si=1&Query=au%3A%22Avi+Goldfarb%22

https://www.jstor.org/stable/10.1086/674021?Search=yes&resultItemClick=true&searchText=(crowdfunding))&searchUri=%2Faction%2FdoBasicSearch%3FQuery%3D%2528crowdfunding%2529%2529


https://www.jstor.org/action/doBasicSearch?si=1&Query=au%3A%22Brendan+McEvilly%22

https://www.jstor.org/stable/10.2307/booksireland.368.20?Search=yes&resultItemClick=true&searchText=(crowdfunding))&searchUri=%2Faction%2FdoBasicSearch%3FQuery%3D%2528crowdfunding%2529%2529


5. Eleanor Kirby and Shane Worner, Crowd-funding: An Infant Industry Growing Fast,

Staff Working Paper: [SWP3/2014],

6. Enrico Wieck, Ulrich Bretschneider, and Jan Marco Leimeister, Funding from the

crowd: An Internet-based Crowdfunding platform to support business set-ups, Int. J.

Coop. Info. Syst. 22,1340007,

7. Josh Kaplan, A Case Study on the Pebble Watch, on 19 November 2013

NirKshetr, Informal Institutions and Internet-based Equity Crowdfunding, Journal of

International Management, Available online 10 August 2017,

8. MIT Technology Review, How Pebble Is Killing It on Kickstarter, Three of the four

biggest sums raised on Kickstarter are for thesmart-watch pioneer’s products. Why do

people like it so much?by Rachel Metz June 2, 2016 Paul Belleflamme and Thomas

Lambert, Crowdfunding: some empirical findings and microeconomic

underpinnings,August 30, 2014 Sascha Kraus, Chris Richter, Alexander Brem,

Cheng-Feng Cheng, Man-Ling Chang, Strategies for reward-based crowdfunding

campaigns Institute for Entrepreneurship, Fürst-Franz-Josef-Str., FL-9490 Vaduz,

Liechtenstein, Lappeenranta University of Technology, Finland, University of

Southern Denmark, Denmark, Asia University, Taiwan

9. Semen Son Turan, Financial Innovation - Crowdfunding: Friend or Foe? MEF

University, Istanbul, Turkey, World Conference on Technology, Innovation and

Entrepreneurship

10. SitaNaik,Funding opportunities for research in India, Indian Journal of Rheumatology

11. Volume 10, Issue 3, September 2015,

12. Tanya Beaulieu(Washington State University), SuprateekSarker (University of

Virginia), SaoneeSarker (University of Virginia), A Conceptual Framework for

Understanding Crowdfunding, Communications of the Association for Information

Systems: Vol. 37, Article

13. Ying Hu, Regulation Of Equity Crowdfunding In Singapore, Singapore Journal Of

Legal Studies (July 2015), Pp. 46-76, http://www.jstor.org/stable/24872272

14. YoichiroTaku, Crowdfunding: Its Practical Effect May Be Unclear Until SEC

Rulemaking is Complete, Business Law Today, (May 2012), pp. 1-4

http://www.iosco.org/library/pubdocs/pdf/IOSCOPD459.pdf

https://www.sciencedirect.com/science/article/pii/S1075425316301181#!

https://www.sciencedirect.com/science/article/pii/S0973369815000953#!

https://www.sciencedirect.com/science/journal/09733698

https://www.sciencedirect.com/science/journal/09733698/10/3

https://www.jstor.org/action/doBasicSearch?si=1&Query=au%3A%22Ying+Hu%22



A STUDY ON AWARENESS AND CONSUMER PERCEPTION

ON ADOPTION OF DIGITAL WALLET IN INDIA WITH SPECIAL

REFERENCE TO BENGALURU CITY.

AYESHA SAMREEN5, SHARANYA MURTHY6

ABSTRACT

The last decade has seen a tremendous growth in use of internet and mobile phone in India.

Since demonetization, there has been is tremendous increase in electronic transactions in the

market and also the increasing use of internet, mobile penetration and government initiative

such as Digital India are acting as catalyst which leads to an exponential growth in the use

of digital payment. A digital wallet refers to an electronic device that allows an individual to

make electronic transactions. The current study is conducted to analyse the awareness level

of Digital wallet among the respondents. The study also helps in determining the attitude and

perception of consumers towards the adoption of digital wallet in India. Lastly the study will

help in analysing the relationship between demographic variables, level of awareness and

usage of digital wallet among respondents. The study is carried out by taking the survey of

135 respondents by non-probabilistic convenience sampling method from Bangalore city by

using structured questionnaires and interview technique.

KEYWORDS: Digital wallets, Cashless Transactions, Consumer Perception, Awareness.

INTRODUCTION

A digital wallet refers to an electronic device that allows an individual to make electronic

transactions. This can include purchasing items on-line with a computer or using a

Smartphone to purchase something from a store. An individual's bank account can also be

linked to the digital wallet. They might also have their driver’s license, health card, loyalty

card(s) and other ID documents stored on the phone. The credentials can be passed to a

merchant’s terminal wirelessly via Near Field Communication (NFC).

__________________

5Ayesha Samreen is the assistant professor, Department of commerce Jain University

Bangalore, [email protected]

6Sharanya Murthy is the assistant professor, Department of commerce Jain University

Bangalore, [email protected]



Increasingly, digital wallets are being made not just for basic financial transactions but to also

authenticate the holder's credentials. For example, a digital wallet could verify the age of the

buyer to the store while purchasing alcohol. The system has already gained popularity in

Japan, where digital wallets are known as "wallet mobiles". A cryptocurrency wallet is a

digital wallet where private keys are stored for cryptocurrencies like bitcoin. It has been said

that every disruption creates opportunities and one such disruption was the announcement of

demonetization by Prime Minister Mr. Narender Modi on 08 November 2016.

Demonetization created huge growth opportunity for digital payment in India and the digital

wallet companies garbed the opportunities with both the hands to expand their market share.

Demonetization has presented a unique platform for adoption of digital payment, as an

alternative to cash for Indian consumers.

DIGITAL PAYMENT MODES IN INDIA

There are several mode of digital payment available in India. They are:

ONLINE OR MOBILE WALLETS: They are used via the internet and through

smartphone applications. Money can be stored on the app via recharge by debit or credit

cards or net-banking. Consumer wallet limit is Rs. 20,000 per month and the merchant wallet

limit is Rs. 50,000 per month after self-declaration and Rs. 100,000 after KYC verification.

PREPAID CREDIT CARDS: Pre-loaded to individual’s bank account. It is similar to a gift

card; customers can make purchases using funds available on the card -and not on borrowed

credit from the bank. Can be recharged like a mobile phone recharge, up to a prescribed limit.

DEBIT/RUPAY CARDS: These are linked to an individual’s bank account. Can be used at

shops, ATMs, online wallets, micro-ATMs, and for e-commerce purchases. Debit cards have

overtaken credit cards in India. The number of debit cards in December 2015 increased to

630 million compared to 22.75 in 2014.


AEPS: The Aadhaar Enabled Payment System uses the 12-digit unique Aadhaar

identification number to allow bank-to-bank transactions at PoS. AEPS services include

balance enquiry, cash withdrawal, cash deposit, and Aadhaar to Aadhaar fund transfers.

USSD: Stands for Unstructured Supplementary Service Data based mobile banking. It is

linked to merchant’s bank account and used via mobile phone on GSM network for payments

up to Rs. 5,000 per day per customer.

UPI: The United Payments Interface (UPI) envisages being a system that powers multiple

bank accounts onto a single mobile application platform (of any participating bank). Merges

multiple banking features, ensures seamless fund routing, and merchant payments. It

facilitates P2P fund transfers.

REVIEW OF LITERATURE

• AN EMPRICAL STUDY ON CONSUMER’S ADOPTION OF MOBILE WALLET

WITH SPECIAL REFERENCE TO CHENNAI CITY -

DR.S.Manikandan&J.MaryJayakodi- Associate Professor, PG and Research Department of

Commerce, Gurunanak College, Chennai

REVIEW ABSTRACT :

In the present world smart phones play an important role in the daily life of people. The

technological advancement has made smartphone as devices were the mobile users can

make money transaction or payment by using application installed in phone. The present

study aims to explain the application and usage of wallet money endorsed by different

companies and various factors that affect the consumer’s decision to adopt mobile wallet

and various risks and challenges faced by the users of mobile wallet.

• EDUCATING CONSUMERS ABOUT DIGITAL WALLETS - Symbiosis Centre

for Information Technology [SCIT], Hinjewadi, Pune, India

Wallets have been used from thousands of years to protect and carry personal items of

value. The earliest value wallets or satchels were a piece of cloth tied with a piece of

string which enabled a range of items such as coins to be carried out to market.


Humans have always been mobile and have needed a container to securely carry

personal items. For this instance, we have digital wallets which are online platforms

that stores users’ payment information and passwords and allows them to make

electronic commerce transactions and make their life easy. Out of the many benefits

of electronic wallets, few of the important ones are transferring money, paying bills

and services like payment to cab services. Thus it is important for the organizations of

the digital wallets to segregate the customer segmentation for the wallets as per the

people who wants to use and respond towards the wallet. Also after seeing so many

frauds and cases recently related to cash, people feel that this is the future and will be

the most famous mode of currency transaction.

• A STUDY ON NEW DYNAMICS IN DIGITAL PAYMENT SYSTEM – with

special reference to Paytm and Pay U Money - Vidyashree DV, Yamuna N, Nithya

Shree

The present era is entering into a new pace in payment system by using digital wallets

filled with coupons and offers, In this today’s busiest world people don’t have their

time to sit and relax then how can do their personal works like to recharge their

phones, to pay electricity bill, insurance or to shop etc. So to make people stress free

new application has been introduced i.e. Paytm or pay u money. The present research

paper is focusing on the impact of these new digital payment systems on customers

and problems encountered if any.

• STUDY OF CONSUMER PERCEPTION OF DIGITAL PAYMENT MODE -

SHAMSHER SINGH BanarsidasChandiwala Institute of Professional Studies, Dwarka,

New Delhi, India

The last decade has seen a tremendous growth in use of internet and mobile phone in

India. Increasing use of internet, mobile penetration and government initiative such as

Digital India are acting as catalyst which leads to exponential growth in use of digital

payment. Electronics Consumer transaction made at the point of sale (POS) for services and

products either through internet banking or mobile banking using smart phone or card

payment are called as digital payment. The consumer perception of digital payment has a

significant and positive impact on adoption of digital payment. The structured questionnaire


was used as research tool for understanding consumer perception of digital payment.

Primary data was collected from 150 respondents in Delhi. ANOVA and frequency analysis

was used to analyze the responses. ANOVA indicate that there is no significant variance in

consumer perception based on the demographic factors such as gender, age, profession and

annual income of the patients. However education was found to significant influence for

adoption of digital payments.

STATEMENT OF THE PROBLEM

The current scenario of Indian economy shows the tendency of movement from cash to

cashless transactions. There are so many efforts taken by the government in order to convert

the face of Indian economy into a new one. Now a day every transaction is going digital. In

order to accelerate the execution of the concept of digital economy, a number of digital

payment systems were introduced. But still there is resistant among people in usage of

digital wallets. Therefore this study is conducted in analysing the awareness and perception

of consumers towards adoption of digital wallet among the respondents in India.

OBJECTIVES

1. To study the awareness level of respondents towards effective use of digital wallet.

2. To study the consumer perception and attitude among the respondents in adoption of

digital wallet.

3. To study the relationship between the socio-economic variables, level of awareness among

the respondents towards the usage of digital wallets.

HYPOTHESIS

1. H01: There is no significant awareness and effective use of digital wallet among

respondents.

2. H02: There is no significant relationship between the socio-economic variables and the

level of awareness among respondents towards the usage of digital wallets.


IMPORTANCE OF STUDY:

As digital wallet is surging on an account of growing online payment transactions in India,

this study undertakes to give an insight about digital wallet payment gateway services. The

study helps in understanding the awareness of consumer towards usage of digital wallet. The

study also aims to find the factors influencing the perception of the consumers towards digital

wallets. It also help us to determine the relationship between the socio-economic variables

and the level of awareness and usage of digital wallets.

METHODOLOGY

Under this study the researchers will use both primary data and secondary data. Primary data

is collected through questionnaire from the Indian citizen in Bengaluru. Secondary data is

also used for the purpose of the study from various sources like Published books Newspapers,

Journal, Published articles, unpublished articles, various websites etc. The sample size is 135

that is data will be collected from 135 respondents who reside in Bengaluru. Under this study

the researchers have used non probability sampling method to collect data. Under non

probability sampling convenient sampling technique has been used by the researcher for

collecting the sample. For this study appropriate hypothesis are developed and will be tested

by using statistical tool- Regression analysis, factor analysis and chi-square. Data analysis

will be carried out with the help of SPSS Version17.

ANALYSIS AND INTERPRETATION

REGRESSION ANALYSIS

For analysing the awareness level among the respondents about effective use of digital wallet

regression analysis was conducted.


Dependent factor Heard about digital wallet.

Independent factor Paytm, Payumoney, State bank buddy, Tez, ICICI pockets,

Cirtus, Citi master pass, Momoe, Transaction and

satisfaction.

F value of the model 13.008

R2 .565

Significance level .026

The regression model is said to be significant if the significance value is less than 0.05,

that is (p<0.05). The R-Square value is .565, which is approximately equal to 0.6, which

means that the ten independent variables influence the awareness level to an extent of

.565. The dependent variable have a significant influence on the level of the awareness of

the respondents towards digital wallet. The results are analyzed to test the hypothesis H1,

that is, there is no significant awareness and effect use of digital wallet in India.

Therefore, the null hypothesis that is, there is no significant awareness of digital wallet in

India is rejected and the alternative hypothesis that is, there is significant awareness of

digital wallet in India is accepted.

Ho1

H0 There is no significant awareness and effective use of digital

wallets.

Rejected

Ha There is significant awareness and effective use of digital

wallets.

Accepted


FACTOR ANALYSIS

The main objective to conduct factor analysis is to determine the attitude of the respondents

towards digital wallet. Factor analysis is the most common data reduction technique using

principle component analysis.

KMO AND BARTLETT'S TEST

Kaiser-Meyer-Olkin Measure of Sampling Adequacy. 0.903

Approx. Chi-Square 912.621

Bartlett's Test of Sphericity Df 45

Sig .000

KMO=.903 which is greater than 0.6, which indicates that all variables are significantly

correlated. Hence, it is appropriate to carry out factor analysis. Variables with less than 0.4 as

communality are not going to significantly contribute to the entire data. Hence, we discard

such variables. Here the table of communalities is provided below in which all the variables

have communality value more than 0.4. Hence we consider all variables.


TOTAL VARIANCE EXPLAINED

Compon

ent

Initial Eigenvalues Extraction Sums of Squared Loadings

Total % of

Variance

Cumulativ

e %

Total % of

Variance

Cumulative %

1 5.829 58.287 58.287 5.829 58.287 58.287

2 1.113 11.134 69.421 1.113 11.134 69.421

3 .840 8.397 77.818

4 .649 6.488 84.305

5 .377 3.772 88.078

6 .342 3.417 91.495

7 .247 2.471 93.966

8 .244 2.443 96.409

9 .186 1.865 98.273

10 .173 1.727 100.000

EXTRACTION METHOD: Principal Component Analysis


To find the new factors and the variables associated with them

Components

1 2

High Potential

Digital wallet is convenient in terms

of usage

.870

transactions through digital wallet

saves time

.879

digital wallet is better than offline

transaction

.892

transaction through digital wallet

will have proper accountability

.819

digital wallet is user friendly .822

digital wallet help in curbing black

money

.737

digital wallet is eco-friendly .871

Not in favour

digital wallet

digital wallet is less costly .773

digital wallet is not safe and secure

.872

digital wallet will decrease cash

flow in market

.508

The number of factors to be chosen is based on the Eigen values of the factors (>1) and the

total variance explained by such factors (>60%). In the present case, we take 2 factors for

further analysis since they have Eigen values>1 and total variance explained is 69.421%

which is more than 60%.


Thus the latent factors from 10 variables brought out by factor analysis are:

1. HIGH POTENTIAL This group of respondents are highly interested in digital

wallets. They are active users of digital wallets for day to day transactions. They support

digital wallets and want India to become cashless economy.

2. NOT IN FAVOUR OF DIGITAL WALLETS This group of respondents don't

support payments through digital wallets they highly depend on offline transactions.

CHI SQUARE

To investigate the relationship with the social economic variables and the level of

awareness among the respondents towards usage of digital wallets, Chi-square analysis

was done.

Demographic Variable Factor

Education qualification of

respondent

Heard about digital wallets.

Value Df Asymp. Sig. (2-sided)

Pearson Chi-Square 3.691a 6 .018

Likelihood Ratio 2.679 6 .248

Linear-by-Linear

Association

.832 1 .362

N of Valid Cases 135


Demographic variables Factors

Education qualification of the respondent Heard about digital wallets

CHI-SQUARE TESTS

Value Df Asymp. Sig. (2-sided)



Linear-by-Linear

Association

1.465 1 .226



Gender of the respondent Heard about digital wallets


CHI-SQUARE TESTS


Area of the respondent Heard about digital wallets

CHI-SQUARE TESTS

Value Df Asymp. Sig.

(2-sided)



Linear-by-Linear

Association

0.796 1 .372


Value Df Asymp. Sig.

(2-sided)



Linear-by-Linear

Association

1.086 1 .297



From the above tables- age, education qualification, gender and area of residence are

selected to check whether there is a significant relationship between socio-economic

variable and the level of awareness among respondent towards usage of digital wallets.

The above table shows the chi square values as 3.691, 18.033, 1.623 and 8.379 respectively

and table value is .018, .021, .001 and .015 which is less than 0.05, so we reject the null

hypothesis and accept the alternative hypothesis that is, there is relationship between socio-

economic variables and the level of awareness among the respondent towards the usage of

digital wallets.

H02

H0 There is no significant relationship between the socio-

economic

variables and the level of awareness among the respondents

towards usage of digital wallets

Rejected

Ha There is significant relationship between the socio-economic

variables and the level of awareness among the respondents

towards usage of digital wallets

Accepted

MAJOR FINDINGS

1. As the main objective was to analyze the awareness level among the respondents

towards the usage of digital wallets it was found that there is awareness among the

respondents towards Digital wallets.

2. The second objective of the study was to analyze the attitude and consumer

behavior towards the adoption of digital wallet for which factor analysis was

conducted. Respondents were grouped in to two different category based on the

10 variables as High potential and Not in favour of digital wallets.

3. It was also found that all socio economic variable like age, education

qualification, gender and area of residence of the respondents have significant

relationship with awareness level of respondent towards the usage of digital

wallets


SUGGESTIONS

All the Digital wallet providers need to meet the guidelines stipulated by RBI, so as to

acquire payment bank license.

The awareness of the Digital wallet providers is rising when compared to the preference of

usage of services, therefore the reasons for not using wallet can be found.

However, security concerns appear to be an important factor depressing the adoption of

mobile wallets for payments. Therefore the mobile wallet providers need to address the

security and privacy concerns of the users. Mobile wallet providers can collaborate with the

“Telcos” for better and fast network connectivity.

India should go for cashless economy for its betterment

CONCLUSION

Present study has made an attempt to understand the perception and attitude of the

respondents towards the adoption of digital wallets in India, particularly in Bengaluru city.

The main objective of this research is to determine the level of awareness, attitude and

relationship of social economic variables towards the usage of digital wallets. This study has

a total of 135 respondents which was collected from Bangalore city and the data collected

was being analysed by using SPSS 17. The level of awareness towards digital wallets was

moderately high. As for the attitude, it varies among the respondents. All the demographic

variables had significant relationship with awareness and effective use of digital wallet. The

growth of users of Smartphone and internet penetration in such area also facilitated the

adoption of digital payment.

Due to the developments in digital world each and every activity of human being has

changed. As a part of policy change, cash is no longer becoming a mode of transaction. The

country needs to move away from the cash-based towards a cashless (digital) payment

Yes62%No

9%

May be29%

India should go cashless


system. This will provide multiple advantages like reduce currency management cost, track

transactions, check tax avoidance or fraud etc., enhance financial inclusion and gradually

integrate the parallel economy with the main stream. Additionally as the Mobile wallets

usage crosses the boundaries of big cities, it gains popularity in villages also. The

development in digital payments system makes a new spending behaviour of persons in these

areas. The future of mobile payments in India depends largely on the payment bank license

which is to be provided by RBI so that the consumers will get confidence in using the wallet

services.

REFERENCES

1. Dezan Shira and Associates (2017) Growth of Digital Payments Systems in India.

http://www.india-briefing.com/news/growth-of-digital-payments-systems-inindia-

14797.html

2. Pratik B (2017) Demonetization effect: Digital payments India's new currency;

http://economictimes.indiatimes.com/industry/banking/finance/banking/digitalpaymen

ts-indias-new-currency-debit-card-transactions-surge-to-over-

1billion/articleshow/58863652.cms

3. Karthick S. (n.d.). A Study on Customer Attitude towards Electronic Fund Transfer

System in Thiruverumbur, 51-53

4. Sardar R. Preference towards mobile wallets among urban population of jalgaon city.

Journal of Management (JOM). 2016; 3(2):1-11.

5. Bunn BM, Colvin B, Pittier C, Zanghi A. Understanding How Consumers Adopt A

Debit Card Payment Preference, (November), 2012.


EFFECTIVENESS OF ARTIFICIAL INTELLIGENCE IN EASING THE

BENGALURU TRAFFIC MESS WITH SMART TRAFFIC SIGNALS.

AMAN SAHA7

ABSTRACT

Bengaluru is the ‘sixth-most painful’ city for traffic congestion in the world. Traffic jam in

Bengaluru is a huge and complicated problem nowadays. An average citizen spends more

than 240 hours stuck in jams every year due to the rapid increase in the population and

demand for transportation. This causes longer vehicle travel times, growing environmental

pollution, reduced traffic safety, increased energy consumption, and a decrease in the

efficiency of transportation infrastructure. Hence, controlling the flow of traffic has become a

very important issue under a growing pressure to relieve traffic jams. Intelligent traffic

signals are a combination of traditional traffic lights with an array of sensors to intelligently

route vehicle and pedestrian traffic. "Smart" traffic lights can detect where there is a heavy

concentration of vehicles and alter their pattern to ease congestion. The traffic light

communicate with each other and adapt to changing traffic conditions to reduce travel time

and monitor vehicle numbers, and make changes in real time to avoid congestion wherever

possible and also allows traffic lights to change their timing based on real time data.

Intelligent traffic signals also provide priority to ambulances and fire trucks to get to the

scene of an emergency quicker and more safely.

KEYWORDS: population, traffic congestions, problems, intelligent traffic signals

INTRODUCTION

Bengaluru is a megacity, and the fifth most populous city in India and the 18th most populous

city in the world, with an estimated population of 11,171,000. The city is the third largest hub

for individuals having high net worth and is the second fastest-growing major metropolis in

India with an economic growth of 10.3%. About 10 million Bengalureans lose 60 crore

hours, Rs 3,700 crore a year due to road congestion and Fuel losses amount to Rs 50 crore

annually by the citizens in the city. The Bengaluru traffic police department numbers show

that the total number of vehicles in Bengaluru stands at 70,28,067 (till July 2017); in October

2015, the corresponding figure was 50,55,793, an alarming 40% increase.

__________________

7Aman Saha- final year student, Department of management, New Horizon College,

Marathalli

https://en.wikipedia.org/wiki/Traffic_lights

https://en.wikipedia.org/wiki/Pedestrian

https://en.wikipedia.org/wiki/Megacity


Bengaluru’s traffic problems have reached alarming proportions and we are headed towards a

peak-time crawl of 4-5km on the city's key Outer Ring Road.

The combination of Artificial Intelligence (AI) and Internet-of-Things (IOT), which is

denoted as AI powered Internet-of-Things (AIOT), is capable of processing huge amount of

data generated from large number of devices and handling complex problems in controlling

traffic. There will be more than thousands of cameras installed in traffic signals, which is

very difficult to be viewed, processed, or analyzed by humans. The method is to use live

video feed from the cameras at traffic junctions for real time traffic density calculation using

video and image processing. It also focuses on the algorithm for switching the traffic lights

according to vehicle density on road, thereby aiming at reducing the traffic congestion on

roads. In turn it will provide safe transit to people and reduce fuel consumption and waiting

time. It will also provide significant data which will help in future road planning and analysis.

In further stages multiple traffic lights can be synchronized with each other with an aim of

even less traffic congestion and free flow of traffic. It will help in controlling both motorized

traffic (e.g. vehicles) and non-motorized traffic (such as pedestrian and bicyclist) to improve

the overall efficiency of traffic light control. It will provide dynamic coordination of

vehicular traffic with non-motorized traffic.

REVIEW OF LITERATURE:

• According to K Nangare Yogini: In his research he says Traffic problems, congestion

and improper management of traffic are recognized as major problems mostly in all the

areas, which have caused problem for the ambulance which carries the emergency patient.

Moreover road accidents in the city have been increased and loss of life due to the

accidents is even more crucial and not measurable. To avoid this he introduces a scheme

called as IARS (Intelligent Ambulance Rescue System). The main theme behind this

scheme is to provide a smooth flow for the ambulance to reach the hospitals in time and

thus minimize the problems. The server also determines the location of the accident spot

through the sensor systems and GPS (Global Positioning System) in the vehicle which

encountered the accident as well.

• According to Md. Munir Hasan: In his research he talks about Smart Traffic Control

System with Application of Image Processing Techniques In his paper he proposes a

method for determining traffic congestion on roads using image processing techniques

and a model for controlling traffic signals based on information received from images of

roads taken by video camera. The extract traffic density with corresponding to total area

occupied by vehicles on the road, in terms of total amount of pixels in a video frame,


helps to calculate the number of vehicles on road. Two parameters are set as output,

variable traffic cycle and weighted time for each road based on traffic density and

controls traffic lights in the sequential manner.

• According to Mohammad Shahab Uddin: In his research he states real-time area based

Traffic density estimation by image processing for traffic signal control system, as traffic

congestion is a daily occurrence in most urban areas now a day. In the last 10 years, the

scenario has worsened due to rapid increase in vehicles and insufficient roads to

accommodate them. He describes a method of real time area based traffic density

estimation using image processing for intelligent traffic control system. Calculating the

areas of different live roads, the system will automatically estimate the traffic density of

each road which will help to determine the duration of each traffic light. Specialized

algorithm, morphology and images captured with cameras will be used for the intelligent

traffic control system.

• According to Ms.PallaviChoudekar: Implementation of image processing in real time

traffic light control can also be used in making agriculture smart using automation

technologies. She highlights the features of her project by including smart GPS based

remote controlled robot to perform tasks like weeding, spraying, moisture sensing, bird

and animal scaring, keeping vigilance, etc.

• According to Anurag Kanungo: The method of Smart traffic lights switching is by

using live video feed from the video and image processing cameras at traffic junctions for

real time traffic density calculation. It also focuses on the algorithm for switching the

traffic lights according to vehicle density on road, thereby aiming at reducing the traffic

congestion on roads and which will help in lowering the number of accidents. In turn it

will also provide safe transit to people and reduce fuel consumption and waiting time.

In further stages multiple traffic lights can be synchronized with each other with an aim

of even less traffic congestion and free flow of traffic.

OBJECTIVE OF THE STUDY

1. To reason out the traffic congestion in Bangalore

2. To analyze and try to solve the traffic jam problem by developing an AI technique

1. To analyze the support of AI in providing priority to emergency vehicles

2. To analyze the movement of pedestrians crossing road safely using AI


PROBLEM STATEMENT

Bengaluru ‘The garden city’ is now Bengaluru ‘The traffic city’. As Bengalureans are

witnessing a massive problem with reference to blowing on traffic of this study is undertaken

to witness and analyze the reason for traffic congestion and how AI can support to distress

the traffic pollution.

SCOPE OF THE STUDY

The scope of the study is to help the people of Bengaluru to commute easily and ease down

the traffic by reducing the congestion on roads. In future it can help the drivers to find

parking place with the help of AI. This technology will also allow buses and trains to

communicate with each other and letting individuals know when buses or trains are coming.

The same networks of sensors and cameras can be used to find criminals and missing

vehicles.


The research is based on secondary data and includes various journals, articles, newspapers

etc and descriptive analysis is used to do the research.

APPLICATION OF AI - ANALYSIS AND INTERPRETATION

The applications used here functions on two modules that are image processing module and

sensors with GPS module. Data obtained from the image processing module is used to

control the traffic based on the density in each lane with the help of cameras and the sensors

which are installed in emergency vehicles and traffic signals can be used to give preference

only in time when an emergency vehicle enters the lane in one km radius and turns the

particular lane green. It also consists of a face recognition feature which counts the no of

pedestrians and if the no exceeds the limit, all signals turn red for limited time so that they

can cross the road safely.

The camera used in this application is used to capture images, record videos and recognize

faces. It converts the three dimensional video recordings to two dimensional pictures. Line

scan cameras are also implemented in it which is useful in giving clear pictures in a detailed

manner when there are bad weather conditions.

The image processing unit identifies the density of traffic on the roads. The acquired images

from the camera after being loaded into the image processor are first converted to gray-scale.

The obtained image cannot be processed as it is.


We have to obtain a finite integer value to determine the traffic density in the image and so

all images should be of the same resolution. After re-sizing the image, the image is sent to the

next step in the image processing. A region of interest with the road alone is created. This

image excludes all other parts of the image except the region of interest viz. The road

containing the vehicles. After isolating, the road containing vehicles from the original image

is then sent for edge detection. The vehicles that are present on the road produce a definitive

edge in the image when edge detection is done on the image. A count of the white pixels in

the image will give us the different traffic densities of all the roads by comparing the traffic

of all the roads and we can obtain the side with the maximum traffic.

The integer values that are obtained after edge detection are sent to the microcontroller. It is

loaded with a program that is capable of switching between the traffic lights by providing

priority to the side that has a maximum traffic density and at the same time it also clears

particular lane for emergency vehicle if it is present in the lane. Through image processing, it

is also possible to identify the sides that have exceeded their threshold values and the lanes

get equally switched between the green lights and if an emergency vehicle exists on

corresponding lane the signal goes green in order to help the emergency vehicle to reach

destination easily and quickly. The micro controller acts as an interface that controls the

entire system enabling quick and easy traffic solutions to vehicles in busy junctions.


STEPS OF THE PROCESS

• Firstly the vehicles present in the lane are captured by the means of cameras.

• The captured images are fed to the controller and the vehicles are segregated for each

lane.

• The image is converted to grey scale

• After this, using the process of edge detection the no. of vehicles in each lane is found out

• Each lane is compared and the lane with higher traffic density is freed first

• When an emergency vehicle is detected by the traffic signal in 1 km range, the signal for

that lane turns green and as soon as the vehicle passes the junction, normal functioning of

the system will be processed.

• When the no. of waiting pedestrians crosses the limit, all the lights at that junction turns

red for a limited time period.

In further stages all the traffic signals will be linked with each other and can share the

information through the central traffic control. This can be explained with the help of

following example- If, at a junction there is a traffic jam the other signals which lead to

the junction would divert the traffic going to that junction to another parallel route to

reduce the traffic congestion at that signal.

FINDINGS

• High population growth because of lot many people migrating from other places to

Bengaluru, which leads to the total number of vehicles in Bengaluru to increase from

50,55,793 in Oct2015 to 70,28,067 (in July 2017)- an alarming 40% increase.

• Vehicular traffic increases over 25% of Bangalore's pollution

• An average citizen in Bengaluru wastes more than 240 hours stuck in jams every year

which may result in causing business loss and personnel loss

• Fuel losses amount to Rs 50 crore annually by the citizens -almost 2.8 lakh litres are

wasted per hour a day in the city because of traffic congestion

• More than a dozen of people die on the way to hospital in ambulance every year

• Lack of good traffic control system due to absence of intelligent traffic signals

• Unplanned structure of infrastructure and roads in Bangalore


SUGGESTIONS:

• Toll free number to inform the authority for breakdown of vehicles and road damages

• Towing vehicles should be more active on main roads and strict actions as per law must

be implemented.

• Citizens should have WhatsApp group in their society and offices for car pooling

• Work from home option should be prioritized where possible

• Fixed timing of the companies with more than a specified no. of employees

• Changing the Location of bus stops which are near the starting and ending of flyovers and

junctions

• Construction of skywalks near Business Parks and colleges

CONCLUSION

Recent studies show that there is more clarity to have a systematic movement of traffic

control. The government must take the necessary initiative to have a proper control in

maintaining the traffic rules and the same is applicable for the public to abide by them. Thus

artificial intelligence will enhance the reduction of traffic congestion if implemented and

monitored in an efficient manner. The suggestion above mentioned can also play a significant

role in having traffic free roads and people can travel their life with pleasure as travel time

can be reduced approximately by 25% by eliminating stops and reducing waiting time and

not by increasing travel speeds. With Smart traffic lights approximately 40% waiting time at

intersections are reduced which leads to less delay. It also helps in decreases wear and tear of

roads and tyres due to reduction in stops approximately by 30-40% and finally it reduces

stops and idling and decreases harmful emission produced by vehicles and improves quality

of air approximately by 20%. The above suggestions would bring in a phenomenal reflection

and we can witness a positive change in the Bangalore’s traffic to a great extent and

definitely the public will also support in adhering to the rules and regulations. They can use

their idled time in traffic for productive use. Even environmental pollution, traffic safety, and

energy consumption can be reduced. Emergency vehicles too can attend to crisis and save

lives on time.


REFERENCES

1. https://www.ermt.net/docs/papers/Volume_6/7_July2017/V6N7-160.

2. https://www.researchgate.net/publication/269310721_Smart_traffic_lights_switching_and

_traffic_density_calculation_using_video_processing

3. https://www.surtrac.net/

4. https://www.techemergence.com/smart-city-artificial-intelligence-applications-trends/

5. http://www.techsparks.co.in/hot-topic-for-project-and-thesis-machine-learning/

6. https://pdfs.semanticscholar.org/eddb/c811ec3a3df09d3fd3ca0cd708384d39812f.


FORENSIC ACCOUNTING – TOOL FOR FRAUD DETECTION IN

INDIAN BANKS DR. PRIYANKA ARORA8, MS UMERAKAUSER9

ABSTRACT

Indian banking sector has seen a considerable growth in the last few decades. Although the

banking industry of India is well regulated but at the same time the sector faces its own set of

challenges when it comes to ethical lending practices, financial distress and corporate

governance. In the recent past the banking sector has come across many deceitful cases. This

has damaged the image of the industry not only at national but at international level as well.

And the general public is losing faith in the Banking sector. To address these challenges,

Forensic Accounting can play pivotal role. Forensic accounting utilizes accounting, auditing

and investigative skills to conduct an examination into an organization’s financial

statements. Forensic accountants are trained to look beyond the numbers and deal with the

business reality of a situation. They are frequently used in fraudulent cases. Though forensic

accounting is at a nascent stage in India, it is currently in great demand because of the

nonstop occurrence of white collar crimes in India.

The literature review of this study explains the awareness on popularity of and the cause of

fraud, exploring methods of fraud detection and investigation and obtaining insight on fraud

prevention and identifying weakness. To full fill the objective of the study, a survey was

conducted and two hundred and seventy-nine (279) questionnaires were distributed and one

hundred and seventy (170) respondents have taken interest in filling the questionnaire. The

respondents were drawn from the different banks from the North Bengaluru. SPSS was used

for data analysis and Chi square test was done for hypothesis testing. The study revealed that

a lot of opportunities and challenges abound for a forensic accountant in the Indian

economy. At the end, researchers advise that the nation needs more enlightenment on the

subject matter.

KEY WORDS: Forensic accounting, frauds, fraud detection, investigation, Indian Banks.

__________________

8Dr. Priyanka Arora is an assistant professor at Indian academy degree college,

[email protected]

9Ms Umerakauser is an assistant professor at Indian academy degree college,

[email protected]


INTRODUCTION

In Indian Banking sector the traditional auditing techniques and procedures have become

inefficient and ineffective in the detection and prevention of frauds.

Fraud has become the worldwide problem, while the developing countries and the various

states from the country suffer the most. At present the modern organized financial crimes

have appeared largely at the banking sector, whose detection of utmost difficulty.

Financial crimes such as employee theft, payroll frauds, fraudulent billing systems,

management theft, corporate frauds, insurance fraud, embezzlement, bribery, bankruptcy,

security fraud have taken the centre stage in the scheme of things; and on the scale of private,

public and governmental preference.

Financial crimes today have grown wild, and the emergence of computer software coupled

with the advent of internet facilities has increased the problem of financial crimes. Besides,

the detection or minimization of these crimes are made more difficult and committing these

crimes much easier.

It has become essential for all the financial institutions at all levels to have the requisite skills

and knowledge for identifying, discovering as well as preserving the evidence of all forms of

irregularities and fraud. Therefore, fraud requires more sophisticated approach from

preventative to detection. One of the modern approaches that can be used from the prevention

to detection is called forensic accounting.

Forensic accounting is a rapidly growing field of accounting that describes the engagement

that results from actual or anticipated dispute or litigations.

Forensic Accounting is an investigative style of accounting used to determine whether an

individual or an organization has engaged in any illegal financial activities. Forensic

accounting encompasses three major areas, investigation, dispute resolution and litigation

support.

STATEMENT OF THE PROBLEM

In recent past, series of fraud have been committed both in the public and private sector

banks of the country. From the inception the practice of auditing the accounts of public

institutions existed. Checking clerks were appointed in those days to check the public

accounts. Then came the idea of external auditors, yet frauds were still being committed on a

daily basis.2


Now it has become relevant to introduce forensic accounting since the external auditors do

not or may not have the required training to be able to tackle modern frauds like white collar

crimes such as security fraud, embezzlement, bankruptcies, contract disputes and possibly

criminal financial transaction; including money laundering by organized criminals, also is the

ability of the forensic accountant to provide litigation support and investigative accounting.

These areas have become a complex area of concern for the accounting profession.3


The general objective of this study is to determine whether the use of Forensic Accounting

will help to reduce white collar crime in the Indian Banks.

The specific objectives of this study include:

i. To examine the possibility of reducing the incidence of fraud cases with the help of

Forensic Accounting.

ii. To observe if there is significant difference between Forensic Accountants and External

Auditors.

STATEMENT OF HYPOTHESIS

The hypotheses are:

HYPOTHESIS I

H0: The use of forensic Accounting does not significantly reduce the occurrence of Fraud

cases in the Indian Banks.

HYPOTHESIS II

Ho: There is no significant difference between Professional Forensic Accountants and

Traditional External Auditors.

SCOPE OF THE STUDY

In the light of broad coverage, the researchers focus on the fraud detection and prevention in

the Indian Banks. The scope of the research therefore covers 10 major Banks of India.


In this research work, survey design was used, which relate to collecting data from the

population for intensive study and analysis. In the course of this study, the researcher in an


attempt to gather useful and reliable information utilized two (2) sources of data collection

namely; Primary Sources of Data collection and Secondary Sources of Data collection.

Questionnaire and interview are the instruments employed to collect the data. They are

special form of correspondence developed to procure authoritative information from a

number of persons through the medium of well-directed questions and interactions.

LITERATURE REVIEW

1. P K Ozili (2015) has presented some evidence on fraud detection with the help of forensic

accounting, the skills and education of the forensic investigator. Also, some explanation for

the diverging views among academics and regulators in relation to detecting fraud are

provided. To regulators, he addressed the question on why academic research in forensic

accounting may have little significance to inform policy.4

2. Dr. ManasChakrabarti (2014) says the system of financial reporting and the accounting

and auditing profession are often accused because of the appearance of frauds and the loss of

trust in the reliability of financial information on the part of the users and makers of

economic decisions.

Great Financial frauds at the end of the past and the beginning of this century have imposed

the need for deeper investigation of irregularities in the area of financial reporting. Within

profession, the Enron scandal lead towards formation of a new regulative bodies and the

appearance of a new profession, this is called Forensic Accounting Investigation or simply

Forensic Accounting.5

3. Bonita Kramer in her paper investigates current views of educators and practitioners

regarding forensic accounting education revealing that there are several significant

differences between the educators' and practitioners' opinions on forensic accounting content

and preferred teaching techniques. Results find that while both groups agree the demand for

forensic accounting services will increase in the near future and that they prefer a separate

course or degree be offered at the graduate and undergraduate levels, there are several

significant differences between the educators’ and practitioners’ opinions on forensic

accounting content and preferred teaching techniques. Practitioners consider topics outside


traditional accounting as more important to include in forensic accounting education, and

more highly value teaching techniques that add an experiential learning component.6

POPULATION OF THE STUDY

The population of study for this research comprises ten (10) Banks 5 public and 5 private

sector Banks from North Bengaluru.

The number of branches of different banks and their number of employees are tabulated

below:

The above table shows that the 10 Banks have a total work force of 926.

S/No. Name of the Banks Number of Branches

Population (Number of

employees)

1 State bank of India 10 231

2 Canara Bank 05 50

3 Bank of Baroda 06 100

4 Vijaya Bank 03 45

5 Andhra Bank 04 55

6 ICICI Bank 07 100

7 Axis Bank 12 115

8 HDFC Bank 10 89

9 Kodak Mahindra 07 105

10 Karur Vysya 03 36

TOTAL 67 926


SAMPLE SIZE/TECHNIQUES

The sample size is usually a compromise between what is desirable and what is feasible. For

the purpose of this study, the researcher used a non-probability sampling (purposive

sampling) to select the 10 ten Banks used as population for the study. The researcher has used

random sampling on the staff population in the 10 selected Banks.

The arithmetical formula was adopted to arrive at the sample size ‘n’ with 5% level of

significance (Adefila, 2008).

The sample size of 279 selected from the 10 banks was distributed equally among all the

banks i.e. 28 Employees of each Bank.


DATA PRESENTATION AND ANALYSIS

This section of the paper represents the data collected in response to 279 questionnaires

distributed to the staff of 10 selected banks (5 private and 5 public sector banks) and their

view about the use of Forensic Accounting as a tool for fraud detection and prevention in the

public and private sector banks. Out of which 270 questionnaires were filled and returned.

Question one: Are you aware of Forensic Accounting?

TABLE 4.1

RESPONSES NUMBER OF RESPONDENTS PERCENTAGE

Yes 184 68

No 86 32

TOTAL 270 100

Source: Field Survey

Table 4.1 indicates that 184 of the respondents or 68% of the total respondents are aware of

Forensic Accounting while 86 of the respondents or 32% respondents are not aware of

Forensic Accounting.

Question Two: Do you understand the concept of Forensic Accounting

TABLE 4.2

RESPONSES NUMBER OF RESPONDENTS PERCENTAGE

Yes 127 47

No 143 53

TOTAL 270 100

Source: Field Survey.


Table 4.2 shows that 127 respondents, constituting 47% of the total respondents do

understand the concept of Forensic Accounting while 143 of the respondents with a

percentage of 53% do not understand the concept of Forensic Accounting.

It therefore implies that the 69 percentage of those who understand the concept of Forensic

Accounting were drawn from the 184 who initially agree that they are aware of Forensic

Accounting.

Question three: The Services of Forensic Accountants are required in India?

TABLE 4.3

RESPONSES NUMBER OF RESPONDENTS PERCENTAGE (%)

Strongly agree 97 36

Agree 130 48

Neutral 14 5

Disagree 19 7

Strongly disagree 10 4

Total 270 100


Table 4.3 reveals that 97 respondents or 36% of the total respondents strongly agree, 130

respondents representing 48% agree, 10 respondents representing 4% strongly disagree while

19 respondents representing 7% of the respondents disagree. This implies that, the total

respondents of 227 constituting 84% do agree that the services of Professional Forensic

Accountants are required in India.


Question Four: The services of Forensic Accountant are needed more in Public Sector?

TABLE 4.4



Agree 124 46

Neutral 19 7

Disagree 27 10


Total 270 100


Table 4.4 Shows that 84 of the respondents representing 31% strongly agree that Forensic

Accounting in needed more in the public sector, 124 of the respondents representing 46%

also agree while 16 of the respondents representing 6% strongly disagree, 27 respondents

representing 10% also disagree. 19 i.e. 7% of the respondents were neutral. This implies that

the service of Forensic Accounting is needed more in public sector.


Question Five: Forensic Accounting can help in detecting and preventing fraud in the

Public Sector

TABLE 4.5

RESPONSES

NUMBER OF RESPONDENTS

PERCENTAGE

(%)


Agree

81 30

Neutral

24 9

Disagree

22 8

Strongly disagree

24 9

Total

270 100


Table 4.5: Shows that 119 of the respondents representing 44% strongly agree that Forensic

Accounting can help in detecting and preventing fraud in the public sector, 81 respondents

representing 30% also agree while 24 respondents representing 9% strongly disagree, 22

respondents representing 8% also disagree. This implies that Forensic Accounting can help in

detecting and preventing fraud in the public sector.


Question Six: The service of a Forensic Accountant differs from a traditional External

Auditor.

TABLE 4.6



Agree 105 39

Neutral 38 14

Disagree 24 9


Total 270 100


Table 4.6 shows that 87 of the respondents representing 32% strongly agree that the services

of a Professional Forensic Accountant differ from a traditional external Auditor, 105

respondents representing 39% also agree while 16 respondents representing 6% strongly

disagree, 24 respondents representing 9% also disagree. 38 respondents constituting 14% of

the total respondents were neutral about it. This implies that the service of a Professional

Forensic Accountant differs to a Traditional External Auditor.


Question Seven: the services of Forensic Accountants are preferable to the services of

traditional External Auditor

TABLE 4.7

RESPONSES

NUMBER OF RESPONDENTS

PERCENTAGE

(%)

Strongly agree

108 40

Agree

92 34

Neutral

16 6

Disagree

30 11

Strongly disagree

24 9

Total

270 100


Table 4.7: Shows that 108 of the respondents representing 40% strongly agree that the

services of Professional Forensic Accountants are preferable to the service of traditional

external Auditor, 92 respondents representing 34% also agree, while 24 representing 9%

strongly disagree and 30 respondents representing 11% also disagree. This means that the

services of Professional Forensic Accountants are preferable to the Traditional External

Auditor.


TEST OF HYPOTHESIS ONE

H0: The use of Forensic Accounting does not significantly reduce the occurrence of Fraud

cases.

CHI-SQUARE TESTS

Value df Asymp. Sig. (2-sided)



Linear-by-Linear Association .379 1 .538


Calculated value at 5% level of significance with degree of freedom 4 is 135.903 which are

greater than the critical value of 9.488. So H0 is rejected and Ha is accepted. Therefore it can

conclude that the use of Forensic Accounting significantly reduces the occurrence of fraud

cases.


HYPOTHESIS TWO:

H0: There is no significant difference between Professional Forensic Accountants and

Traditional

External Auditor.

CHI-SQUARE TESTS

Value df Asymp. Sig. (2-

sided)



Linear-by-Linear Association 1.408 1 .235


DECISION RULE:

Since the calculated value of 247.933 is greater than the critical value of 9.488, the alternate

hypothesis (Ha) is accepted and the Null hypothesis (H0) is rejected. Therefore it can be

concluded that there is significant difference between Professional Forensic Accountants and

Traditional External Auditors.

DISCUSSION OF FINDINGS

Based on the chi square test used for the first and second hypothesis the findings are stated

below:

The conclusion of the first hypothesis reveals that Forensic Accounting do significantly

reduces the occurrence of fraud cases. Hence, the service of Professional Forensic

Accountant is therefore required in India.

The second hypothesis equally reveals that there is significance difference between

Professional Forensic Accountants and Traditional External Auditors. In this view, the


services of the Forensic Accounting are therefore required in India to replace that of the

external auditor.

Moreover, the oral interview conducted shows that India does not use the services of

Professional Forensic Accountants. It can equally be deduced from the two hypotheses

analyzed that the services of Professional Forensic Accountants will definitely be required in

Indian Banks, since services are provided by the Traditional External Auditor, yet white

collar crimes are still being perpetrated in the Banks.

SUMMARY OF FINDINGS

Summary of findings for this research is based on the analysis of data collected through

questionnaires and testing of hypotheses are as follows:

I. The services of Professional Forensic Accountants differ to a Traditional External

Auditor

II. The services of Professional Forensic Accountant are preferable to the services of

Traditional External Auditor

III. The uses of Forensic Accounting do significantly reduce the occurrence of fraud cases.

IV. There is significant difference between Professional Forensic Accountants and

Traditional External Auditors in terms of a skills and techniques applied and fraud

investigation.

V. Majority of the respondents are aware of Forensic Accounting.

VI. Few of the respondents had some knowledge of the concept of Forensic Accounting.

VII. Based on oral interview it can be concluded that Indian banking sector does not use the

services of Professional Forensic Accountants and therefore required such services.

VIII. That the services of Professional Forensic Accountants are needed more in the public

sector

IX. That Forensic Accounting can help in detecting and preventing fraud in the public

sector.

CONCLUSION

This study has analyzed why attention has to be given to the fraud detection and fraud

prevention in India with the help of Forensic Accounting. It has discussed that the Forensic

Accounting approach or procedure necessary for detection, prevention of fraud and the type


of control to be established in order to control the incidence of white color crime in the

banking sector of the country. It should be highlighted that whether within the business world

or in the public sector, the ultimate responsibility for discouraging and preventing white

collar crime and fraud rests with management.

REFERENCES

1. https://www.investopedia.com/terms/f/forensicaccounting.asp

2. EfeEfosa(Bsc, M.sc, CNA) FORENSIC ACCOUNTING AND FRAUD

MANAGEMENT: EVIDENCE FROM NIGERIA EHIOGHIREN Igbinedion

University Journal of Accounting | Vol. 2 August, 2016 | 245

3. Iedunote origin and evolution of auditing, https://iedunote.com/auditing-origin-

evolution.

4. Okoye, E.I. Ph.D, Fiia, Fsm, Fcna , Gbegi, D.O. M.Sc, Mba, B.Sc, Cna

5. Forensic Accounting: A Tool for Fraud Detection and Prevention in the Public Sector.

(A Study of Selected Ministries in Kogi State) International Journal of Academic

Research in Business and Social Sciences

6. March 2013, Vol. 3, No. 3 ISSN: 2222-6990

7. P K Ozili, Forensic Accounting and Fraud: A Review of Literature and Policy

Implications. International Journal of Accounting and Economics Studies, 3(1), 63-68

19 Pages Posted: 9 Jul 2015 Last revised: 3 Mar 2017 University of Essex - Essex

Business School Date Written: 2015

8. Dr. ManasChakrabarti,Problems and Prospects of Forensic Accounting Profession in

India, International Journal of Informative and Futuristic Research ISSN 23471697

volume 2 issue 1 September 2014,

9. Bonita Kramer, (Jake Jabs College of Business and Entrepreneurship, Montana State

University, Bozeman, Montana, USA) Current opinions on forensic accounting

education Accounting Research Journal Volume 30, Issue 3 Current opinions on

forensic accounting education.


WOMEN EMPOWERMENT IN IT SECTORS JYOTHI. T10

ABSTRACT

The emergence of Information Technology sector in mid-1990s has unveiled a potential

employment opportunity for women in this organized sector congenially befitting their job

environment and offering, in principle, least gender discrimination. Most reviews reveal that,

notwithstanding overall satisfactory gender neutral pursuit by this sector, an optimal level of

gender inclusivity is still to be achieved, especially to the senior level. Moreover, this sector

requires to be extra-careful in doing away with the prevailing maladies such as

‘Feminization’, ‘Glass ceiling’ etc. The theoretical aspect of individualization in the

workplace is palpable but at the societal level, patriarchal strategies dominate on the Indian

psyche. The reflection of this paper is arrived at, on the basis of, the inputs drawn from

different literatures of secondary sources.

KEYWORDS: Feminization, Gender discrimination, ‘Glass ceiling’, Information

Technology and women employees face.

INTRODUCTION

Globalization has made deep inroads in the Indian scene. It sets off, inter- alia, market

liberalization and emergence of Information Technology (IT) sector. Development of

Information Technology, in recent decades, facilitated by the high-speed data communication

links, contributed to improved communicative networks bridging the temporal and spatial

boundaries and, correspondingly, widened the scope of opportunities for people seeking paid

work. The onset of Liberalization and Globalization in 1990s paved the way for growth of IT

industry in India. IT industry enjoys natural comparative advantage of 12 hour time-gap with

most of the overseas countries, exposure to a large cross- section of educated English-

speaking but cheap labour force and, above all, Indian Government policy incentives e.g.

setting up of several Software Technology Parks (STPs) and providing tax holidays to profit

making IT industry etc. Besides boosting up export earnings for the country and creating a

new pool of entrepreneurs, IT sector has its inherent spill over benefit of creating

employment potential for a large pool of educated unemployed youths including an attractive

option for the women. Management has increased considerably but there is lack of adequate

representation of women at the senior level.

__________________

10Jyothi. T is a HOD, Dept. of Commerce and Management, Bangalore International

College, [email protected]


OBJECTIVES

The current paper tries to address the following two objectives:

1. The development of IT in India enabling woman to be empowered.

2. The contexts that influences the women empowerment.

3. The constrains which women face in their workplace.

EMPLOYMENT OPPORTUNITIES IN IT SECTOR

The Indian IT-BPO industry has emerged as the largest private sector employer in the country

with direct employment of about 2.23 million professionals. The percentage of female

employees, over the years, has steadily increased from 35% in 2006 to 36% in 2008 at the

junior level. The important factors that encourage women workforce to participate in IT

sector are for embracing a white-collar job with comparatively high salary, easy international

mobility, gender-neutral policy based on knowledge-centric skills possession, flexible work

routine and physically less demanding work process in comfortable indoor work-

environment. The gateway of getting into this sector is through higher and technical

education. As such, growing female participation rate in this sector has raised the claim that it

has encouraged women into professional, technical and higher education. High employment

potentiality in this industry inspired a large number of girls to go for professional education,

especially for the computer engineering courses. It transpires from the NASSCOM-Mencher,

2009 report that only 5 to 8 per cent of female engineering graduates were in the IT industry

during 1980s whereas this figure has shot up drastically to 20 to 30 percent currently

The studies of different social effects on the participation of women workforce in IT industry

located in Delhi and Bangalore are being discussed. Kelkaret al. 2002 observed that women

working in this sector become socially mobile to live in other cities away from their male

relatives and families for the sake of their jobs. They no longer constrain themselves to opt

for jobs which are near to their home town alone.

Direct opportunities offered by the IT industry for advancement of women. they take

decisions of their own and within limited terms. Individualisation capacities are enhanced as

the women employees need to make decisions very often on their own and that too instantly,

thus, offering greater scope for boosting up their agency. This, in turn, helped in re-defining

the traditional gender norms. The study of Clark and Sekher (2007) has drawn inference that

flexibilised labour market in this high tech sector improves women employees‟ financial

autonomy, greater mobility and their larger social acceptance in male dominated society. Like


Clark et al. Shanker‟s study (2008) asserts that IT industry is the destination of the

„privileged‟- young, educated, urban and upper caste with middle class family background-

constitute the majority of the workforce. She further observes that women professionals have

enhanced their social status in terms of having economic capital (high income, foreign

travels), social capital and symbolic capital (prestige attached to profession). It has not been

possible for the women in the IT sector to challenge the structural inequalities and gender

relations respectively at the work place and at home. As a result, an ongoing struggle brews

in on them to challenge the embedded patriarchal relations and existing structural

inequalities. Yet, women do not hesitate to seek constantly to balance work and domestic

responsibilities with little help from their men.

GLASS CEILING, FEMINISATION AND ASSOCIATED CONSTRAINTS MAKE IT

A GENDERED WORKPLACE

Since the women workforce gets concentrated mostly at the lower level of job hierarchy in

the IT sector. But at the senior level, women representation is only around 5 per cent. The

reasons attributed to this are: (a) stereotyped female professional (b) personal sense of mid-

career guilt and (c) proverbial glass ceiling. A small percentage of women are in the

managerial position. A few women work as Software developers, Architectures, Tech leads,

Consultants or Project managers whereas a bulk of them works at the lower level as testers,

programmers or quality assurances and such other low-end jobs.

They are, thus, paid less and have fewer channels of growth and lesser chance of going

abroad. Women, thus, cluster at the lower level of job-ladder leading to feminisation of

certain service activities and consequential segregation. Very few women reach the higher

level of managerial jobs. Shanker (2008) echoed the same findings in Bangalore to the effect

that women professionals were mostly concentrated at the entry and intermediate levels rather

than flocking at the middle and upper ranks, thus, creating the glass-ceiling.

CULTURAL CONSTRAINTS

Again, culturally there is persistence of gender-biased stereotypes practiced by the

management for its ideological construction of women’s skills as soft skills, being good at

routine, standard and repetitive works. The notion shapes the recruitment practices. This, in

turn, limits the opportunities for women’s promotion. Reinforcement of gender based

stereotypes creates a culturally and structurally defined glass-ceiling. Women workforce in

Information technology sector face glass- ceiling and is not able to rise high after certain


level of hierarchy as they fail to bargain for proper perks, stock options, pay scales etc.

Again, usually they fail to upgrade their skills; tend to remain attached to a particular

company for a longer period rather than going for job hopping thus, stick to immobility.

Failure to put up late hours to build informal networking debars them from getting

information on career openings. Their career choices are constrained by distance from home,

domestic responsibilities, job securities, company reputation and for other social reasons. The

impression of „stereotypical image‟ for women employees on the part of recruiters, team lead

and male colleagues results in marginalisation of women at the workplace especially during

the time of project deadlines; other constraining factors include recruitment and promotion

filters for selection of certain „social types‟, lack of mentors and want of network for women

at higher position etc. Non implementation of women sensitive flexi-time policy etc. further

hampers promotional prospects of women software professionals.

POST-LIBERALISATION ERA

In India the post-liberalisation era paved the way for the development of IT Industry. It has

been the dream of many young job seekers to get into the sector. It has provided job

opportunity for very young technical as well as non-technical graduates in a very comfortable

and conducive office environment and with handsome paypackage together with prospects of

foreign travel. It unfolds actually the American dream to the GenX middle class population

including substantial part of women folk. This sector has undoubtedly enhanced the social

mobility and high work participation of women employees in catching up with the direct

opportunities provided by IT. It has further enhanced the financial autonomy and bargaining

capacity in the household decision-making process for the women. The individualising

capacity practiced in the workplace helped in redefining traditional gender norms.

Women working in IT have moreover, enhanced the symbolic capital that increases their

social status in the marriage market as potential brides by re-defining feminity. The job

market inspired female students to take up technical and professional courses to rise to the

demands of the labour market. Women in this sector are able to break technical arena, which

has so long being a male bastion. The effects of this IT hype resulted in double-income

family replacing the single male breadwinner model. Parents now tend to give equal

importance to girls education like that of their boys to enable girls to pursue their own career

and financial independence rather than being dependent on others in the family for playing

the roles of housewives and mothers. Women feel themselves empowered vis-à-vis

disempowerment of their parents, since they were unable to achieve the careers, they desired,


although they have education, extends a positive demonstrative effect. Women gradually

prefer to work outside home in an attempt to improve upon their social position rather than

bearing with dependency and coercion in the family. Individualisation of women workforce

in the workplace has liberated them from traditional gender roles and ascribed demands. This

again, exposes them to the risks of divorce, intra family conflict and even destabilising the

family. It has also been seen that the work-place constraints for women employees includes,

inter alia, patriarchal relation is in existence in the form of exclusion and segregation though

not intended at the policy level set up.

CONCLUSION

Women tech icons and data showing the benefit of having more women in the team will

change things over time. This also seems to be the evitable progression.

More and more job profiles today and more so in the future, will have a strong IT component.

Women need to understand this and equip themselves with the required skills.

IT sector is more likely to witness business expansion than other sectors of the economy. The

government needs to do a better job of exposing women to IT.

REFERENCES

1. Article on Why Indian IT needs more Women by Sudhir Singh, MD, Marg ERP. Deccan

Herald dated: 04/04/2018.

2. Research paper on “ Women in Indian IT Sector: a Sociological Analysis. By Asmitha

Bhattacharyya and Dr.BholaNath Ghosh.

3. Abraham, Margaret, „Globalisation and the Call Center Industry‟, International

Sociology, 23 (2), 2008, 197- 210.

4. Arfken, D. E., S. L. Bellar, M. M. Helms, „The Ultimate Glass Ceiling Revisited: The

Presence of Women on Corporate Boards‟, Journal of Business Ethics, 50 (2), 2004, 177-

86.

5. Beck, Ulrich, Risk Society: Towards New Modernity. London: Sage, 1998Clark, A.W.

and T. V. Sekher, „Can Career-Minded Young Women Reverse Gender Discrimination?

A View from Bangalore‟s High-Tech (5) Sector‟, Gender, Technology and De-

velopment, 11 (3), 2007, 285-319.

6. Castells, Manual, Rise of Network Society: The Information Age: Economy, Society and

Culture, Vol. I. USA: Blackwell publish-ers Inc. 1997.

7. Castells Manual, The Internet Galaxy: Reflections on the internet, business and Society.

USA: Oxford University Press, 2001.


A NOVEL VOICE-BASED REAL-TIME MEDICAL DIAGNOSTIC AND

TRANSCRIPTION SYSTEM (RTMDTS) FOR REMOTE AREAS NEHA YALAMANCHI11 , SACHIN V12

ABSTRACT

Lack of medical facilities as well as timely medical transcription in remote areas force

patients to spend excessive amounts of their income on private hospitals or to ignore fatal

symptoms resulting in high mortalities. In addition to these, the rural patients avoid seeking

government medical aid due to long waiting periods, facilities being out of reach and

unavailability of required medical equipment and the so called 'White–Coat' syndrome. This

paper explores an innovative solution that provides patients in rural and remote areas a

revolutionary, convenient and cost effective modern approach for getting in touch with

reputed doctors, whenever and wherever needed, for a variety of non-emergent health

complaints by bolstering telemedicine.

KEYWORDS: Public Healthcare Facilities (PHCs); White Coat syndrome; ASHA;

Telemedicine;

INTRODUCTION

Majority of the population in India resides in rural areas as per the most recent census, in the

year 2011. [1] Nearly 86% of all the medical visits in India are made by patients from remote

areas with most of them travelling more than 100 km to avail health care facilities of which

70-80% are borne out of pocket landing them in poverty.

Studies have indicated that the mortality risks before the age of five are greater for children

living in certain rural areas compared to urban communities. Inequalities in healthcare can

result from factors such as socioeconomic status and caste, with caste serving as a social

determinant of healthcare in India. Government agencies succeeded to an extent in

establishing the needed infrastructures in urban areas but failed to do so in rural/remote areas,

which sustains 70% of the Indian population. In one of the studies conducted, it was

concluded that 143 public facilities found absenteeism of 45% doctors from PHCs (Public

Health Care facilities) and 56% of times found to be closed with an unpredictable pattern of

closure and absenteeism during regular visit hours. Moreover, only 2% of doctors are in rural

__________________

11Neha Yalamanchi is a student, Department of BCA, New Horizon College, Marathalli,

[email protected]

12Sachin V is a student, Department of BCA, New Horizon College, Marathalli,

[email protected]



areas – where majority of the population live and one of the reasons for the low coverage is

the incidents of doctors were attacked in rural India.

Our innovative solution proposes bringing healthcare to respective rural areas using existing

resources and infrastructure while eradicating 'White -Coat Syndrome' and Catastrophic

Health Expenditure (CHE).

The proposed methodology of the novel solution is as follows - Remote and /or rural patients

can visit a local Common Service Centre/ Accredited Social Health Activist (ASHA) centre

where our software will be deployed. With the help of an employee or through Voice input of

the dialect of their choice, they could register and enter basic details about themselves along

with their symptoms. Patient information will be stored in a database and simultaneously it

will be put up on a web forum in real time that registered doctors can access and prescribe

medication based on their specialization. The prescription along with the physician’s contact

information will be available to respective patients in a printable form. To mitigate the time-

lapse issues between the consultation and the transcription process, our software will pre-

diagnose the patient and provide a list of home remedies that the patients could take to relieve

the discomfort of the symptoms. In case of an epidemic/endemic, where the number of cases

of a particular illness is exceedingly high, our software will trigger a team of researchers and

the government agencies to act on a war-footing and will also act as a reliable database.

MATERIALS AND METHODOLOGY

REQUIRED ATTRIBUTES OF THE PROPOSED SERVICE INFRASTRUCTURE

This requirement follows from the assumption that in order to ensure the success of the

proposed system of connecting remote patients to reputed practitioners, it is necessary to

define the boundary conditions /criteria for the system:

a) ACCURACY: The pre-diagnosing system will report the accuracy of the diagnosis, while

a practitioner reports back.

b) CONVENIENCE: The prescribing physician should be able to respond with a

prescription in minimal time.

c) ELIGIBILITY AND AUTHENTICATION: The system should be designed in a way

that only allows access to authorized personnel, such as the administrator at the centres and

the physicians.


d) FLEXIBILITY:The medicines prescribed will be checked for in nearby pharmacists and

the final report will include the names and addresses of those pharmacists having a stock of

the required medicines.

e) INTEGRITY:Patients’ prescription and other medical records can only be modified,

updated or deleted by the assigned physician.

f) RELIABILITY:The system should work robustly without any loss of records due to good

and reliable database and also should be able to deliver prescription to remote patients in

lesser time.

g) UNIQUENESS:Each practitioner, administrator and patient only have one login

credential and it cannot be used by another person.

INFRASTRUCTURAL MODEL AND ARCHITECTURE

i. OVERALL SYSTEM ARCHITECTURE

Voice-based Real-Time medical diagnostic system and transcription process enabled

with speech input and online consultation allows us to connect rural patients to urban

doctors. The user can speak to the system in his/her local vernacular (regional

languages such as Kannada, Telugu, Tamil, Malayalam, Hindi, Marathi, Guajarati,

Bengali, Punjabi, Oriya, Assamese etc.) and get their health diagnostics/services or

prescriptions using voice recognition, Artificial Intelligence (AI) and simultaneous

translation of voice in to text and vice-versa. The system ensures the complete flow of

communication in such a way during the patient-physician (doctors) interactions for

the benefits of even illiterate native villagers who will be provided with access to state

of the art health services through this virtual connectivity. This integrated common

platform will also be accessible to Government agencies for their planning and control

purpose. Selection of native language choice by the user will be either by Text and/or

Speech. The process flow is schematically represented in Figure 1.


Figure 1: Process Flow

ii. SYSTEM MODELLING AND MODEL REPRESENTATION

SYSTEM IMPLEMENTATION

SIGN UP WINDOW

With the help of an administrator at the centre, the patient’s details will be entered in and will

be authenticated with our database, after which, they will be directed to the next window.

Figure 2: Patient Sign Up Form


PATIENT DETAILS

Through voice-input or text, patient or health centre administrator will enter the basic medical

information.

Figure 3: Patient Details

PATIENT’S SYMPTOMS

Patient’s symptoms are recorded and posted to database and the web forum for the assigned

doctor to respond.

Figure 4: Patient’s Symptoms


PATIENT DIAGNOSIS

The pre-diagnosis of the patient will be displayed along with a list of home remedies that the

patient can use during the delay for the diagnosis and prescription from the doctor.

Figure 5: Patient Diagnosis

CONCLUSION

This paper presents the development of electronic prescribing support system for diagnosing

rural and remote patients who cannot access medical facilities. These problems range from

avoidance of seeking government medical aid due to long waiting periods, facilities being out

of reach, unavailability of required medical equipment etc. Potential for the deployment of

the system at the national level is envisaged, as videoconferencing and virtual medicine and

real time online medical consultations with a physician allows thousands of patients in rural

areas to have access to health care mediums for a stable medical condition that requires

periodic evaluations, monitoring and advice at minimal cost.

Further, it provides the right scope and tools to research and to avoid epidemics. Also, the

system can be made inter-operable with mobile devices. Medical practitioners would be

needed to be trained on the use of the system for enabling efficacy of the proposed solution. It

is envisaged that the telemedicine system may be improved upon through feedback from

medical practitioners and users.


REFERENCES

1. Census 2011 – Provisional Population Totals - India

2. Kumar R. Academic institutionalization of community health services: Way ahead in

medical education reforms. J Family Med Prim Care. 2012; 1:10–9.

3. BARU, RAMA; ACHARYA, ARNAB; ACHARYA, SANGHMITRA; KUMAR, A

K SHIVA; NAGARAJ, K (2010). "Inequities in Access to Health Services in India:

Caste, Class and Region". Economic and Political Weekly. 45 (38): 49–58.

4. Bhandari L, Dutta S. India Infrastructure Report; 2007. Health infrastructure in rural

India.

5. Britnell, Mark (2015). In Search of the Perfect Health System. London: Palgrave.

p. 59.

6. “Assaults on public hospital staff by patients and their relatives: an inquiry". Indian

journal of medical ethics. Retrieved 2016-10-20.

7. International Institute for Population Sciences and Macro International (September

2007). "National Family Health Survey (NFHS-3), 2005 –06" (PDF). Ministry of

Health and Family Welfare, Government of India. pp. 436–440. Retrieved 5

October 2012.

8. Justice &Osobu, Funbi et al. (2015). Electronic Medication Prescribing Support

System for Diagnosing Tropical Diseases.


PROBLEMS AND PROSPECTS OF PEOPLE ANALYTICS FARZANA M PATHAN13, SUMANGALA TALUR14

ABSTRACT

Business environment today is changing constantly. Technology in particular is the most

volatile area of management. One recent development in the field of human resource

management is the people analytics. This is nothing but the application of mathematics,

statistics and modeling to worker-related data to analyze and predict patterns. Every

innovation has both challenges and prospectus. People analytics is applied in almost all the

areas of HR namely recruitment, talent management, wage and salary administration,

performance management etc. Hence the future of people analytics has huge prospects due to

the heavy data explosion, need for objectivity in the field of HR, to analyze talent related data

etc. At the same time it faces certain challenge due to the resistance of the HR professional,

lack of required skill set,Technology and data barrier, lack of information processing and

most importantly it involves cost and it not all that suitable for the small organizations. But

gradually it is overcoming all the challenges and has made way into the main stream of

human resource management.

KEY WORDS: People Analytics, Human Resource, Technology, Skill Set

INTRODUCTION

The corporate world today is obsessed with numbers. In the present world everything

is measured in terms of numbers. There is hardly any relevance for any result that is not

measured in terms of number. The field Human Resource is no exception. Gone are the days

where decisions were taken on the basis of intuition and gut feeling.

Every aspect of human resources in the present days is assessed on the basis of some or the

other data analytic tool, to be more specific when it comes to HR it is people analytics. This

is a recent development in the field of Human Resource. People analytics is the application of

mathematics, statistics and modeling to worker-related data to see and predict patterns. In

particular, people analytics, also known as HR analytics and talent analytics, is analysis used

to make better decisions about all aspects of HR strategy with the goal of improving business

performance. Analytics in HR is connecting people data with different types of business data

__________________

13Farzana M Pathan is a research scholar,Akkamahadevi Women’s University, Vijayapur

14Sumangala Talur is an associate professor, adarsh institute of management, Bangalore


to create outcomes aligned with company goals such as increased revenues and lowered

costs. People analytics is beginning to help more companies in their recruiting, performance

measurement, compensation and retention efforts. People analytics can help organizations to

understand which candidates to hire, which employees are doing well, who's receiving

adequate compensation and how employee retention can be improved. Ideally, people

analytics can improve on instinct and gut feeling; for example, showing that, in some cases, a

community college certificate makes for a better employee than a four-year degree.

LITERATURE REVIEW

Momin, W. Y. M. (2015). In their research studied how HR analytics helps to align HR

strateties with the other business strategies using case study method. They also attempted to

study how HR analytics assist the organizations to enhance the productivity of the employees

through proper recruitment, selection, appraisal etc. They have tried to depict HR analytics as

a cutting edge tool to enhance productivity and to cut down the costs. Khera, S. N., &

Gulati, K (2012) in their study focus on the role of HRIS on HRP. They opine that HRIS can

help organisations do better and faster HRP. Mishra, S. N., Lama, D. R., & Pal, Y. (2016)

highlights the concepts, need and benefits of Human Resource Predictive analysis. It helps

the firms to predict the workforce collaboration patterns, analyzing employee turnover and

modelling employee lifetime value. This in turn will help firms to enhance their ability to

handle their human resource proactively. Rosenblat, A., &Kneese, T. (2014) in their study

Predicting human behaviour discusses the power of big data and its capacity to solve social

and business problems.

By data mining new patterns can be identified and based on these patterns predictions can be

made. These predictions are found to be pretty accurate. Verma, S., &Mehrotra, R.(2017)

are trying to explore the reasons and pressures under which the firms are forced to adopt new

technologies to keep in pace with the other changes that are taking place in other areas such

as production, markets, customer service etc. They tried to understand the attitude of the

managers and personnel people towards the resultants of Analytics.

Objective of this article is to explore the problems and prospects associated with the Human

resource Analytics.


PROBLEMS OF PEOPLE ANALYTICS

The concept of people analytics is of recent origin. Hence faces certain hurdles.

Following are some of the challenges faced by the people analytics:

RESISTANCE BY THE HR PROFESSIONALS

Unlike the field of production, finance or information technology, decisions in the field of

human resources are based either on what worked in the past or a leader’s beliefs. Most of the

times the HR professionals resist the implementation of statistical interventions as they feel

that HR professional should be good at managing people and not at data analytics of

information technology.

LACK OF SKILLS AMONG HR PROFESSIONALS

It is often believed that the CFO or Engineering or Quality team is the analytical expert and

not the HR professionals. Aspirants of HR hardly think of enhancing analysis and data

evaluation skills. But today this may be a professional development focus for some HR

professionals

ATTITUDE OF THE HR PROFESSIONALS

According to Peter O’Hanlon, founder and managing director of Lever Analytics, the first

and most common people analytics issue is thinking narrowly about HR and constraining it to

a set of largely fixed processes that run in response to a calendar or in response to problems.

TECHNOLOGY AND DATA BARRIER

“People have been burned by big expensive IT projects and there is an incorrect assumption

in some quarters that you need to spend big to get started,” said O’Hanlon, who was speaking

ahead of People Analytics & the Future of Talent 2017. He further said that it is critical to

find the people who can combine the people understanding with data and analytics skills.


He further opines that Often these skill sets are inside different brains, so finding people with

both capabilities in the one skill is unfortunately harder than it should be but thankfully that’s

changing off late.

INFORMATION PROCESSING

The HR departments have plenty of information gathered through Human Resource

Information System, candidate management system etc. which is often relevant and current

information. But still, it is not common practice that HR provides high-impact reports to

stakeholders

SMALL ORGANIZATIONS

In large organization it is easy to collect big data on recruiting, training, succession planning,

turnover, compensation, but organizations that are smaller do not often have vast data.

Therefore analysis and critical thinking related to smaller data require different approaches

when small samples are used to make crucial decisions.

SUBJECTIVITY

The results in the marketing, finance or production department are measurable. But when it

comes to Human Resources, the results are most of the times subjective. For example, if an

organization is charged with discrimination and if data relating to specific managers is

required, what are the chances that the information is not biased and is reviewed

appropriately?

THE QUALITY OF THE DATA

The Data used for the analysis should be accurate and identification of the accurate variables

is also very important. Wrong variable and wrong data may lead to wrong decisions. The

historical data will be observed for understanding employee churn behavior, it is then split up

into a training, performance measurement etc.


FEASIBLE AND WORKABLE OUTCOMES

Analysis is not an end itself. Actual work should starts only after the analysis. Based on the

analysis results, the corporate has to take action which are feasible and workable. The

analytical models should be integrated with the systems in the companies. It can’t function in

vacuum.

PROSPECTS OF PEOPLE ANALYTICS

The business environment is changing constantly. Many organizations are responding by

coming up with strategies that apply critical evaluation, leverage data, and cultivate rational

decision-making. Technological advances and a global economy have created new challenges

for the organizations, which require the organizations to think differently.

The use of technology is providing a challenge for all the stakeholders. It also requires the

jobs to be. Human Resources have an opportunity to support these business changes, the

systems-thinking, and data analysis, as well as providing leadership programs required to

succeed in this environment. There are also HR challenges that may need to be reconsidered

to work as a change agent, coach and consultant in culture design. But still HR has a long

way to go and has huge scope and prospects in this direction. People analytics tools are

increasingly being used to help companies gain a competitive edge. They are helping the

companies to take more objective decisions than gut based decisions.

DATA EXPLOSION

There is enormous data available due to improvement in technology and software. Initially it

was the other departments apart from HR that were affected by it but of late the HR

department is also required to adopt data processing for better decision making. Most HR

departments are sitting on mountains of data about their employees including demographic

data, performance data, job history, compensation, and training

NEED FOR OBJECTIVITY

HR departments are increasingly being asked to justify their decisions based on measurable

outcomes. This has led to the push for business decisions to be made based on analytics and

data rather than using gut instinct and subjective judgment.


TALENT-RELATED DATA

There is ample scope for talent related data like as demographics, skills, and engagement.

Attendance, adoption, participation in training and development and leadership programs,

outcomes of key projects and assignments, performance ratings and data captured from the

use of instruments such as 360 assessments and succession programs that can be included in

people analytics.

RECRUITMENT

When it comes to talent acquisition, 64% of business leaders agree HR’s top priority is

sourcing. Various acquisition techniques are bound to become obsolete. Data can be used to

profiled what employee success looks like in a particular role and then apply that knowledge

to candidates to automate the screening function. Analytics also helps in comparing the pre

hire performance and post hire performance, which in turn will help analyze the effectiveness

of the recruitment process.

PERFORMANCE MANAGEMENT

Performance management is the supervision and oversight of employees, departments, and

organizations with the objective of seeing that milestones and objectives are reached in an

efficient and effective manner. The capability of one individual varies from the other.

Accordingly their contribution to the ultimate goals in an organization also varies. Analytics

helps the organization compare the performance of managers/department. It helps in

identifying the reason for under or over performance. Earlier, the management was dependent

on the bosses of the employees to decide about their performance and promotions and also

succession planning. But now with help of analytics this dependency and related biases have

been overcome. It in turn helps to train the employees in the respective areas.

ATTRITION

Attrition rate is an important area of concern for any organization. It also attributes to the cost

factor significantly. Data analysis can help the organizations to study the trends in attrition.

One of the researches that featured in the Harvard Business Review found that employees are

more likely to quit around their yearly work anniversary. Hence, the proactive HR

departments can time retention interventions before that time.

https://ideal.com/product/screening/


TRAINING AND DEVELOPMENT

Training and development is one of the key functions of HR. People analytics could be very

handy in identifying the training needs and also assess the effectiveness of the training

programmes so held.

COMPENSATION

This is one area where data analytics can do wonders. This is one area of HR which is more

based on numbers. People analytics can help compensation management more scientific.

EXAMPLE

Case study of Wells Fargo - Wells Fargo uses predictive analytics to hire employees better

able to meet its performance requirements and fit into its corporate culture.

Wells Fargois the world’s second largest bank by market capitalization. Wells Fargo & Co. is

more particular about hiring the accurate and more productive human resource. The firm

relies on the predictive analytics to assess and hire better human resource that will perform

better and stay longer with the company. It will also help the firm to take more precise data

based decision to strategize and design the structure of the organization. The company hired

Kiran’s Cloud Cords Enterprise Talent Analytics, a San Diego based company, who

developed a customized solution to help them in recruiting and predict the most effective

candidates. From 2010 onwards, Wells Fargo started to centralize its recruitment functions

and also they began to standardize the selection and appraisal processes for their community

banking division. They have around 6200 retail bank branches, Call centers etc. They recruit

around 270000 employees. The Kiran’s Cloud Cords Enterprise Talent Analytics depend

more on biometric based data for recruitment and selection of people rather than the

psychometric tests. They feel that it is easy to manipulate those tests. They have developed a

set of 65 questions which the candidates will answer online. This set of 65 question s has

been developed, Kiran’s has interviewed over 40 retail banking subject-matter experts to

identify the factors needed to be successful in those various roles. Initially, they administered

their tests on 1000 employees from top, middle and front line executives and were monitored

for two years to confirm the desired outcomes. They used their analytics to test the

correlations with the Well’s culture and the backgrounds of the candidates to their

performance. The candidates who apply for job were sent an email asking them to take the

online test which has 65 questions. The test is automatically graded in real-time. The

candidates who scored more than the desired marks got immediately an interview scheduled.


This step is very crucial in doing the first level of filtering at very less cost. They also

measured the retention rate which had improved by 15% for tellers and 12% for personal

bankers. While doing this they also identified certain pattern in retaining and performance of

tellers. They discovered that successful tellers had experience in financial services or in

telecommunications and also they were holding very good performance records in high

schools. These are some unusual patterns. With traditional psychometric tests may not reveal

these patterns. A strong data based pattern is a most reliable and accurate one.

This case study very clearly brings out the benefits and advantage of the predictive human

resource analytics to the organizations using them.

CONCLUSION

The only trend that is constant in the business world is change. Information technology is one

such change that has taken the business world by storm. One of the results of this is the

people analytics which has influenced the field of HR. People analytics has touched every

aspect of HR, right from the recruitment to compensation to training to attrition. Hence it has

a great future and varied prospects. But at the same time it has its own challenges like cost

and implementations in Small Organizations, Resistance by the HR Professionals, Lack of

skills among HR professionals; subjectivity etc. in spite of these problems, people analytics is

becoming an integral part of Human Resources.

REFERENCES

1. Momin, W. Y. M. (2015). HR analytics transforming human resource

management. IJAR, 1(9), 688-692.

2. Khera, S. N., & Gulati, K. (2012). Human resource information system and its impact

on human resource planning: A perceptual analysis of information technology

companies. IOSR Journal of Business and Management, 3(6), 6-13.

3. Mishra, S. N., Lama, D. R., & Pal, Y. (2016). Human Resource Predictive Analytics

(HRPA) for HR Management in Organizations. International Journal of Scientific &

Technology Research, 5(5), 33-35.

4. Rosenblat, A., &Kneese, T. (2014). Predicting human behavior.

5. Verma, S., &Mehrotra, R. Research Paper on Role of Analytics in Renovating Human

Resource Management.


6. Bennett, N., &Lemoine, J. (2014). What a difference a word makes: Understanding

threats to performance in a VUCA world. Business Horizons, 57(3), 311-317. doi:

10.1016/j.bushor.2014.01.001

7. Currence, J. (2017). Applying critical evaluation. Alexandra, VA: SHRM.

Euchner, J. (2013). Navigating the VUCA world: An interview with Bob Johansen.

Research Technology Management, 56(1), 10-15.

8. Ganguly, D. (2013). How business leaders navigate in a world of VUCA: Volatility,

uncertainty, complexity, ambiguity corporate dossier. The Economic Times (Online).

9. Pfeffer, J., & Sutton, R. I. (2006). Hard facts, dangerous half-truths, & total nonsense:

Profiting from evidence-based management. Boston, MA: Harvard Business School

Publishing.

WEB REFERENCES:

1. https://programs.online.american.edu/mshram/resource/hr-analytics-challenges-and-

drivers-in-business

2. https://www.predictiveanalyticsworld.com/patimes/predictive-analytics-for-hiring-

0521153/

parivriddhi 2018newhorizoncollege.in/wp-content/uploads/2018/12/...mr. nagaraju kilari, head of the...

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