In this Leading with data episode, we have with us, Prithvi Chandrasekhar, the driving force behind consumer finance at InCred. With a rich background spanning renowned organizations like Capital One, Accenture, and McKinsey, Prithvi brings a wealth of experience in analytics and data-driven decision-making. In this insightful conversation, we explore his journey from the inception of data analytics to leading a dynamic team at InCred. Discover how Prithvi’s passion for building enduring organizations intersects with his commitment to social impact, making this episode a must-listen for aspiring data enthusiasts and business leaders alike.
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Key Insights from our Conversation with Prithvi Chandrasekhar
- Building a great place to work and fostering a culture of intellectual rigor are crucial for a successful data-driven company.
- A diversified business model from the start can provide stability and resilience against economic shocks.
- The Indian market’s infrastructure for data-centric, algo-based decision-making has matured significantly, surpassing many western counterparts.
- Generative AI is expected to have a long-term transformative impact, but immediate practical applications in business are still emerging.
- Developing ‘T-shaped’ skills—broad capabilities coupled with deep expertise—is essential for a long and adaptable career in data science.
- Reading and continuous learning are vital for personal and professional growth, with books like “Data Science for Business” and “The 7 Habits of Highly Effective People” being highly recommended.
- Engaging with diverse perspectives and maintaining curiosity about the world can enhance leadership qualities, as exemplified by cricket legend Rahul Dravid.
Now, let’s look at the details of our conversation with Prithvi Chandrasekhar!
How did your journey in Data Analytics begin?
I started my career long before terms like analytics or data science were coined. My first job was at Procter and Gamble India, where I was drawn to the power of rigorous analysis of quantitative and sometimes qualitative data. This work gave me conviction in its substance and impact. From there, I moved to consulting, which allowed me to delve deeper into market opportunities and business strategies. Eventually, I joined Capital One, which was essentially an analytics company, and later moved on to consulting stints at Accenture Strategy and McKinsey. Now, at InCred, I practice what I once preached about analytics and data-driven decision-making.
What motivated your return to India and joining InCred?
The decision to return to India was personal and sentimental. My wife and I wanted to come back home, be closer to our aging parents, and give our children a sense of their roots. InCred presented a significant commitment as it is an India-facing business. Joining InCred was a chance to create a company as great as Capital One right here in India, which resonated with me then and continues to do so.
Can you describe the growth journey of InCred?
InCred has been a successful journey from the start. We began operations in 2016, and today we’re an 8500 crore NBFC, part of a larger group that includes investment banking and wealth management divisions. We’ve grown from 20 people to about 1500-2000 across the group. Despite our size, we still see ourselves as just getting started, with plans to expand our book size and operations further.
What were the key aspects of building a Capital One like company in India?
Two aspects I care deeply about are creating a great place to work and committing to intellectual rigor or truth-seeking. At Capital One, we were proud of being recognized as the best place to work, and we strive to replicate that at InCred. We treat people well, hire the best, and provide opportunities for personal growth. As for truth-seeking, it’s about staying true to the data and evidence, persisting until you get to the crux of what’s really going on, and making informed decisions.
How do you institutionalize the vision of truth-seeking and intellectual honesty?
Firstly, it’s about setting an example from the top. I try to embody truth-seeking and intellectual honesty in my work. Secondly, it’s about surrounding myself with people who respect and support this culture. Thirdly, it’s about being nuanced in decision-making, combining hard data with pragmatic solutions. Lastly, celebrating our successes reinforces the culture, making it easier to bring the next generation into this way of thinking.
What was the rationale behind InCred’s diversified business model from the start?
We were confident from the beginning that we would grow into a diversified business, so we built with that end in mind. While it made execution more challenging, it has proven to be the right decision, providing stability and resilience against the various economic shocks India has faced.
How ready was the Indian market for a data-centric, algo-based decision-making approach in 2016?
In 2016, I believed that India’s infrastructure was ready for the Capital One style of data-centric, algo-based decision-making. The quality of data and decision-making in India is now better than most parts of the western world, thanks to advancements like UPI, Aadhaar, credit bureaus, and supportive regulatory environments.
What is your take on generative AI and its adoption in business?
While I believe generative AI will have a transformative impact in the long term, I don’t see it changing our business significantly in the next 3 to 5 years. We’re observing the technology and may experiment with it, but we’re waiting for the hype to settle and for more practical applications to emerge.
What advice would you give to someone starting or in the middle of their data science career?
Your career will span decades, and you’ll need both horizontal skills—like communication and leadership—and vertical skills—deep knowledge in specific areas. Start your career doing what you enjoy, and as you progress, work on developing the other dimension of your ‘T-shaped’ skills. This approach will prepare you for a long and fulfilling career.
What are some books that have had a significant impact on you?
“Zen and the Art of Motorcycle Maintenance” is a favorite of mine, teaching the harmony between arts and sciences. For career-oriented reads, I recommend “Data Science for Business” for analytics fundamentals, “Fooled by Randomness” for understanding the role of chance, “Skin in the Game” for insights into risk and decision-making, and “Deep Work” for the importance of focused, uninterrupted work. “The 7 Habits of Highly Effective People” is also a classic that offers timeless advice.
How has cricket influenced your life and leadership?
Cricket has taught me a lot about leadership, teamwork, and resilience. My interactions with Rahul Dravid, a cricket legend and InCred’s brand advisor, have been enlightening. He’s not only a great ambassador for our brand but also genuinely interested in understanding our work. His curiosity about the world beyond cricket and his ability to engage with people from different walks of life are qualities that I admire and learn from.
Summing Up
Prithvi Chandrasekhar clearly stated that his dedication to creating impactful organizations resonates deeply. His journey exemplifies the transformative potential of analytics in business. With invaluable insights on fostering a culture of truth-seeking and the importance of continuous learning, this conversation offers a roadmap for the evolving landscape of data science and leadership.
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