CIO Insider

CIOInsider India Magazine


Datawise: Unlocking the Growth Potential of Business through Data

 Ranco Chakravarti,    CEO

Over the past 20 years, technological development has resulted in an explosion of data, including operational, financial, customer, and other types. Smartly used analytics offer their clients a competitive edge by delivering excellent insights into the performance measures of a business and the complex, often bewildering changes taking place around them. Datawise Group, Head quartered in Hyderabad, is one particular example of how advanced analytics are transforming the consulting profession and the role of individual consultants. Founded in 2003 as a provider of research and analytics services, Datawise has been assisting businesses in enhancing business performance with cutting-edge solutions through consulting and outsourced services. CIO INSIDER recently engaged in one on one interaction with Ranco Chakravarti, CEO of Datawise, let’s hear from him.

Define Datawise’s position in the business consulting and services domain.
We provide client satisfaction across a variety of industries, including banking and financial services, government and regulatory services, retail, aviation and logistics, and healthcare. Innovation is something we strongly support at Datawise which is driven by our three core beliefs, namely, keeping abreast of the latest technologies, understanding how these can benefit the commercial world, and an unwavering commitment to developing new products and services. We offer consultancy services across various domains.

For instance, in marketing, we provide services like brand mapping and perception studies, market potential mapping, market access and entry strategies, and GTM strategies. We offer Due Diligence and Feasibility Studies, Project Funding and Management Strategies, Risk Management and Modelling Studies, and Valuation and Regulatory Services as part of our Financial Consultancy services. Our IT Consultancy Services encompasses Corporate IT Strategy Development, Technology Assessment, Risk Management, and IT Software Development. Helping clients make the transition to a digital economy is one of our main areas of concentration.

Could you elaborate on the approach you follow to process large volumes of data in a short time?
To address many facets of customer

experience, customer engagement, and customer happiness, Datawise has developed numerous product suites. The era of streamlined data management has arrived thanks to Datawise, allowing businesses to fully utilize their data for competitive advantage. The company already has a strong partner ecosystem in place and wants to grow it even further. Requirements are projected to increase as digital transformation projects become more widely adopted across businesses. Customers can monetize their data using Datawise's business analytics products to hasten the success of their businesses.

The era of streamlined data management has arrived thanks to Datawise, allowing businesses to fully utilize their data for competitive advantage

How are your services portfolios helping you stay afloat in the industry among other competitors?
Datawise currently provides its services to customers in 25 different countries. It provides customer assistance through six offices in India, Texas, Connecticut, and London, United Kingdom. Datawise wants to become a leading provider of business analytics solutions. The company aims to be the first choice in the analytics market thanks to its expertise in a number of sectors, including government and regulatory, aviation and logistics, banking and financial services, healthcare, retail, and IT.

Over the last few years, Datawise has established a formidable variety of products-cum-services in the Analytics Space, establishing a blazing pace of expansion. With a strong product focus, we shall continue to provide actionable insights to support business decisions. The services which straddle the entire gamut of business functions enable us to provide holistic solutions to our clients. Name it and we have it. So, whether it is Financial Analytics, Customer Analytics, Marketing Analytics, HR Analytics, Supply Chain Analytics, or Marketing Analytics, we do it all.

What are the pain points resolved by your tools and framework for your clients?
"Each of our products is the result of deep rooted research followed by an understanding of ground realities. It is this belief system that has enabled us to develop several products and services in the last few years", explains Ranco. Infinity, servQual, CREST, and Optilox, are some of the company's flagship products as a result of its consistent commitment to research and innovation.

Infinity is an origination and management system for loans. It is a

highly parameterized and configurable
technology that enables the instantaneous introduction of new products and adjustments to underwriting guidelines. It has more than 250,000 registered members and has disbursed loans totalling more than Rs.600 million across India.

servQual is a methodology for assessing the quality of customer service channels. It locates discrepancies between conduct and expectation. gives information about possible defectors in a predictive manner.

CREST is a tool for customer segmentation that acknowledges the cyclical nature of consumer needs and aids in locating clients with the highest potential for future revenue.

Optilox is a behavioural analytics model created specifically for the retail business. It aids in deciding on the ideal location for new retail establishments, outlets and more.

Meow is a tool for social media analytics that assesses the online performance of businesses products or services.

SatisACTual is a customer outreach system with built-in dashboards and reports for trending and root cause analysis, as well as real time feedback, followup, and tracking for complex, integrated, multi channel campaigns.

Dattab is a tablet based platform for data collection, archiving sharing and analysis that is frequently used for field research and market analysis.

What is the future roadmap envisioned for Datawise? Where is it headed for the next five years?
Datawise's core focus has always been on solving real world business challenges with business analytics and Platform-as-a-Service(PaaS) while incorporating cutting-edge technology into their solutions. In order to offer better valueadded solutions to its clients, this business analytics player has also been adding a number of other characteristics to its portfolio, such as text analytics, voice analytics, video analytics, and more.

Datawise connects stored data sets with Passive, Active, and Public data sets in addition to providing insight into passive data. This enables the creation of insightful data that can result in successful business outcomes, forecast the optimal course of action, and boost ROIs. While most businesses have easy access to internal benchmarking, getting external benchmarking depends on two factors: capacity and accuracy. In the process of working with numerous prestigious clients, Datawise has created credit benchmarking and consumer benchmarking. Thus, Datawise has created a wide range of opportunities for its clients to create competitive advantages.

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