Co-Founder & CEO
“What gets measured gets managed.” This quote by the Austrian-American author, Peter Drucker, precisely defines the significance of data for businesses in this age. Irrespective of the size or the nature of operations of an enterprise, it’s important to analyse and derive value out of the data the enterprise holds in order to make informed business decisions. Yet, several businesses leave their data unused, missing out on meaningful insights that could help them grow their businesses.
Considering these dynamics and the fact that businesses need support to conveniently process their structured as well as unstructured data, West Bengal based Vixplor Analytics offers cloud-based solutions that empower businesses to make sense of their data. This unique solution is named Textplor, as it extracts sentiments out of large volume of text. Vixplor largely addressed the needs of three customer segments, Lenders and rating agencies, audit firms, asset management companies and hedge funds with its analytics solutions.
The company offers its clients the ability to gather data from different sources and simplifies the entire process of drawing insights out of that database, facilitating much needed data transformations. In an interaction with CIO Insider, Vixplor Analytics’ Co-Founder and CEO, Tapas Chakraborty talks in detail about the company’s vision and the capabilities it delivers to the customers through its key solutions, Vixplor and Textplor.
Please tell us about the inception story of Vixplor Analytics.
Our journey began in 2017 with the idea to develop Vixplor, a cloudbased analytics platform to analyse huge amounts of data gathered from multiple sources and generate insights. The platform was however developed to
process only structured quantitative data. Thus, to further assist clients that needed support to analyse unstructured data, the company introduced Textplor. It’s a cloud based platform hosted in AWS, which analyses largely textual information and draws sentiments from various sources, such as corporate annual reports, news from various trusted sources, conference call transcripts, corporate announcements, and social media data.
Textplor is an advanced analytics solution that curates textual information and draws sentiments to help our clients in the banking and financial services space make critical economic decisions
Help us understand Vixplor Analytics’ latest solution, Textplor, in detail?
Textplor is an advanced analytics solution that curates textual information and draws sentiments to help our clients in the fintech space make critical economic decisions. It allows businesses to invest their resources in other meaningful tasks rather than manually analysing the data, which remains a cumbersome and time-consuming exercise. It uses technologies such as Artificial Intelli
gence, Machine Learning, Text Mining and NLP to obtain only useful insights from news, reports, tweets that carry strong sentiments.It helps the users zero down on the news reports with high sentiments that require the business’s immediate attention instead of wasting their time and resources on unimportant news pieces.
Walk us through the different capabilities Vixplor Analytics delivers to its clientele.
We largely cater to three main customer segments in the fintech space lenders and rating agencies, audit firms, and asset management companies and hedge funds. Our solutions proved significant for these entities in measuring risks and identifying various unknown factors that are critical to their existence and growth. For example, using Vixplor’s analytics solutions, one can measure distress probability using the data from the annual reports, vulnerability of the industry by analysing the relevant news and can even perform peer analysis on important financials of companies.
Textplor proved significant for these entities as corporate filings and newspapers hold sensitive information that financial institutions need to intricately analyse before making any economic decisions. They can even obtain insights from Textplor based on the specific customisable parameters such as defining the number of years for which they need the annual report for, obtaining tweets/ news from reliable persons or firms only, and so on.
What will be the key focus areas for the team of Vixplor Analytics for the next few years?
We wish to expand aggressively in India as well as in foreign markets in the years to come. Even though Textplor was developed for the Indian market first, it holds the capability to analyse textual information from other geographies as well. Since our solution processes the text in English, it can extract sentiments from any annual reports, or news, or tweets written in the language. We have even verified Textplor using contents of foreign markets such as the UK, the US and Dubai. To further expand in international markets, we are working on associating with overseas partners.