DailyPost 2781
A MANAGEMENT HACKATHON
The tech world may raise its eyebrows on hackathon finding its way to the management world. It is not surprising why it is happening there; the actual surprise is why it has not happened so far. All of us in the tech world are familiar with Hackathons and what they deliver. It also depends on technical and problem statement rigor that is put and what is made to deliver. First things first, what is a hackathon? Literally, the word is a portmanteau of hacker and marathon and thus a combination of clever programming and endurance. This combination delivers a prototype.
In his book Zero to One, Peter Theil has laid down contours of tech entrepreneurship and what it delivers; an out of the world product which completely changes the nature of the market and the user or a process that improves by a minimum of 10X times. So, a management hackathon, or an effort to create a prototype process is fully in sync with the business world and its requirements. Interestingly enough, given the present nature of tech advancements, with emerging AI tools and more specifically the Large Language Models, LLMs, Management Hackathons can create use cases.
The LLMs broadly define the nature of businesses to emerge. St. Francis College in Koramangala, Bangalore, has taken the initiative of hosting a Management Hackathon by name Insight Metrix. I had the proud privilege to inaugurate this morning. The online preliminary round was already over and 15 finalists got through the first round to battle it out in the finals, to gain hands-on expertise glory to be the winner. Data is primordial to our business existence and success. The data sets have been provided to the competing teams to create business solutions.
The tools used would be open-source ones which would be sufficient enough to come to a final prototype and its workability. As the name InsightMetrix suggests, it aims at finding business insights, the business insights can be transformed into solutions or prototypes with some effort. The insight is based on the technical processing of “Metrix,” a data / database / dataset that is a standard for evaluating or measuring businesses, particularly the areas and businesses that have a great leaning towards statistics and figures. The final product of the Hackathon could be a Marketing and Financial study, analysis of trends and SWOT analysis; depth and coverage sufficient enough to throw up a prototype.
MANAGEMENT HACKATHON CAN BE CALLED A CROSS FERTILIZATION OF WELL PROVEN SUCCESSFUL MODEL.
Sanjay Sahay
Have a nice evening.