They call themselves the ‘genies’ and their job is to torture data to confess its deepest darkest secrets. This introduction may seem scary to some, but TEG Analytics employees laughingly tell the story of their own ‘designations’.
Over an email chat with TEG Analytics’ Marketing and Brand Insights Head Arpan Gupta, we spoke over a myriad of subjects — from their company’s credo, their funny nicknames, and the key reforms needed in the Analytics industry in India.
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Analytics India Magazine: How would you summarise TEG Analytics’ credo?
Arpan Gupta: TEG Analytics’ credo is “Insights at the Speed of Business”. We believe that analytics is now a practice that differentiates competitive success from failure. Speed of doing business is changing rapidly with the advancements in technology, communication and information. Everything is moving faster than it did a decade ago. If the businesses don’t drive insights and act on them at an increased pace, they lose. Analytics is the weakest link in the chain for most businesses because even with a proliferation of data, insights from the data is not easily forthcoming. TEG Analytics works with its clients to strengthen that weak link.
AIM: Could you tell us a little bit about TEG Analytics’ beginnings and the CXO’s backgrounds?
AG: TEG Analytics is almost reaching a decade in its existence. We envisioned ourselves as the genie that comes and helps organisations solve long-standing problems using the magic of analytics. That’s the history of the acronym – TEG — The Enterprise Genie. TEGians still call themselves Genies within the company but we moved to the name TEG Analytics as most of our clients started to call us that!
TEG was founded by Arvind Nagpal, who came from a 20+ years of experience in building business units that leverage benefits of technology, data resources and analytics. Arvind is a published author of a book on SAP and is a frequent speaker at industry conferences.
We all bring our own specialties to add value to the business of our clients – Madhu is our specialist in Advanced Data Sciences, I bring in specialisation in marketing and brand insights, Sudhanshu leads our Technology practice. We are the ingredients of the TEG recipe – irrespective of how much of each ingredient goes in relatively, the recipe wouldn’t taste half as good in the absence of any!
AIM: How is TEG Analytics’ work distinctive in CPG and Retail sector, since the responses can’t be analysed instantaneously?
AG: Analysis in CPG and Retail was dependent for a long time on survey-based data which was not real-time. However, with the speed at which technology has been adopted and the communication channels that now have opened up for consumers and companies to interact, a large amount of data in CPG/Retail is now real-time. An example to discuss would be Sentiment Analysis — TEG analyses large amounts of digital data available on chats, blogs, news mediums, social media platforms, and assesses the changing sentiment around the conversations that consumers are having for certain brands or products. It’s very advanced analytics but one that is absolutely relevant for a CPG company that can’t afford to know about its brand equity waiting for the yearly brand equity survey results. Similarly analytics around price scraping information online is the mainstay for most e-commerce retail companies today to dynamically adjust their pricing and retain/attract consumers in a highly competitive environment.
AIM: Tell us something about the new project you’re currently working on
AG: We are currently working with a global network marketing company to analyse the dynamics of their growth in their innovative business model. It’s something that has not been done before — an attempt to forecast growth/decline in business activity of thousands of part-time entrepreneurs who make network distribution possible. We have been using machine learning techniques to understand and interpret the patterns of business building and create appropriate incentives to keep the business on a growth path.
We are also working with a major US healthcare company to develop a medicare plan competitiveness analysis based on publicly available CMS data. Using advanced analytics we can mimic customer choice models and the results can then be used to predict enrollments in medicare plans. Its again something that has never been attempted before.
AIM: What are your future plans?
AG: TEG Analytics aims to stay at the forefront of developments happening in the field of analytics. We believe TEG will succeed by leveraging the science of data analytics and the art of developing insights. We are living in interesting times because for the first time technology and communication advances are bringing more data into our hands than can be analyzed. It has never happened before. From a data starved practice, we are now in an era of big data. Machine learning, neural networks, big data technology are all growing at a rapid pace and redefining the whole practice of developing insights. Its truly lightning speed in doing business. We intend to help businesses keep up with that speed burst
AIM: What key reforms should be brought into the Analytics sector?
AG: We believe there is much more that needs to happen in regards to making data available in the public domain to solve meaningful problems for companies, communities and consumers. There is too much data that still sits behind regulatory vaults or hidden behind pseudo privacy concerns. At the same time, as we move to an age of humans interacting increasingly more with machines on an everyday basis, we need to better define the structure for capturing relevant information. Everything that counts is not data and everything that is data should not count.