Drowned in Data

Scientists with an edge at computational prowess and mathematical techniques are in great demand ever since information technology has taken a central position in modern society. Here we discuss a couple of themes where data analytics and stochastic modeling tools have shown impressive track record for young graduates in the physical sciences to dream for that 'incredible career path'. Sound logic, experimental precision and computational powers  have been increasingly harnessed to build efficient systems and arrive at prudent decisions. Godel's incompleteness theorem asserts that no formal theory that contains arithmetic can be both complete and consistent at the same time. Hence we are forced to carry out scientific computation using advanced numerical schemes using as many data points as available for better precision. 
[Refer: Computing over the reals: Where Turing Meets Newton-BY LENOR BLUM]

In another direction we also require computational tools for market analysis, trading and investment analysis. Taking a cue at stochastic environments involved in quantum physics, the academia and industry recognized the value of engineering financial decisions using powerful mathematics. To narrate the story in a nutshell, financial decision making invariably involves numerical calculations, spreadsheet models for simple what-if- analysis, cost of capital calculation and business valuations. Of late research trends in risk management require sophisticated stochastic analysis. For instance asset price dynamics, evolutionary trends in commodity prices, interest rate analysis and derivative products. We shall quote A.Brown (of the Morgan Stanley group) "In the olden days of risk management you could take decisions looking at the data while now we have tons of millions of positions and hundreds of thousands of market factors Each position can have so many attributes and each market factor has thousands of data points and the market factors  themselves are becoming very abstract, we dont have prices in there any more we have implied volatalities and implied correlations"
[Ref:  Convergence of Technology and Pure Studies-Bulletin of Science Popularization]

-- J V Ramana Raju

INSPIRE Fellowship program and JAIN UNIVERSITY

As a student, fresh out of her Masters and keen on pursuing research, I applied for the DST INSPIRE Fellowship program. I was on the lookout for interesting work related to the fields of biochemistry and biotechnology with a focus on human aspects. My search for an ideal programme brought me to Jain University in August 2011, which was still in the nascent stages of their Ph.D. programs. The exposure to different programs, institutes, professors and the advice from my seniors made me realise that the most important part of higher research is being able to find a suitable research guide. Since I was still waiting for my Ph.D. fellowship results, I decided that the M.Phil program would be beneficial to me. A meeting with all the research guides and mainly my interaction with my guide (Dr. Vani R) ensured that the M.Phil was the right step for me. I found that the faculty at Jain was extremely helpful and provided immense encouragement and support. The learning obtained from the course work paved the way for me to develop a sense of confidence and passion towards my research work. The completion of my M.Phil examinations and the inception of my laboratory work substantiated my aspiration to continue my research further. In April 2012, my fellowship results were declared and I was awarded the INSPIRE Fellowship to pursue my doctoral work. I immediately shared the information with my guide and the authorities at Jain University, who were exceptionally accommodating with my situation. It was agreed upon that I would be able to carry on as a Ph.D. research scholar once I complete the necessary formalities. I am grateful to Jain University for supporting my desire to pursue my doctoral work and ensuring that I receive my INSPIRE Fellowship. 

It has been over five years now and my association with Jain remains strong. As I am reaching the end of my research journey, I find that there has been a lot of learning and wisdom that I have acquired along the way. There has been a definite rise in my confidence, my team skills, my writing skills and the understanding and application of various concepts. I have raised the levels of my expectations of myself and obtained a better awareness of my strengths and weaknesses. Jain University and my guide have allowed me to follow my passions and become a strong-willed researcher with the skills and competence to take me forward in all phases of my life. I am grateful and thankful to them for all their support and encouragement through my research journey.