Internship Diaries of 2020 is a series about the various categories of roles offered by companies for summer internships. We bring to you the experiences of interns from Consulting, Finance, Marketing, General Management, Product Management, Operations and E-commerce roles to understand a bit more about their work life. The articles are meant to give the reader a glimpse into the life of an intern and help the reader understand their fit in that particular role.
Contributed by: Kunal Kumar
Picture Credits: Rishi Rathi
Edited by: Chinmayee Dawre
This summer has been quite eventful. It started with a glimmer of hope when the students were expecting the onset of a coveted summer internship program but then the unprecedented COVID-19 stretched its arm and heralded the arrival of the Black Sawn. It widened the fault lines in the marketplace, questioned the way businesses are done and forced us to rethink the post-pandemic workspace. The businesses were grappling with something they had never expected, many of them rescinded the offers but some of them honoured their commitments and I was fortunate enough to be part of one of them.
AmEx has a glorious history of serving people for 175 years and is testament to the fact that those institutions that are agile and able to adapt to demanding circumstances survive the test of time. It is for the first time that AmEx has gone for a complete virtual internship process and made sure that the quintessential eight weeks experience add feathers in our pursuit of global business leadership.
I worked with New York-based team and my first assignment was developing Market Mix Modelling (MMM) Simulator. The MMM simulator helps the marketing team in tracking the performance of the advertisement. The model gives them transparent data-based decision-making ability to focus on high RoI channels and cut expenses on low RoI channels of advertisement.
The second part of my assignment focussed on optimizing the spend allocation across channels of advertisement at product and portfolio level and in the last leg of my internship I was also given the opportunity to analyse the national level database for new accounts acquired across various channels of advertisement and perform mathematical modelling to come to the granularity of DMA (Designated Market Areas) level.
In this entire journey, the leadership team including my senior-manager who happened to be my immediate reporting person in the hierarchy, made sure that I get sufficient time with them in understanding the problem statement, clearing doubts at first call and ensured that I get no lesser than in-office experience. The responsibilities and expectations were at par with the colleagues, the firm constantly asked for feedback about our experiences so that they keep on addressing the pain points on our part and make the experience holistic even in the virtual set-up.
The arena of data analytics sets the testing ground to realize the immense possibility of transforming science to strategy and research into revenue. The learning curve is steep and the sky is limit, it broadens your approach to business and constantly reminds you that there is always a room to further optimize the model you are building and keeps you on the edge. To sum up, the eight weeks journey from data to insight have been a gratifying experience.
Kunal, Rishi and Chinmayee are students of the PGP 2019-21 batch at IIM Bangalore.