Artificial Intelligence Start-up, Octo.ai is an open-source analytics platform built for machine learning. Octo.ai has raised 200,000$ funds and the seed round was led by Rohan and Arjun Malhotra ( Investopad ), Rahul Khanna (Trifecta Capital), Rakesh Agrawal (US based- seed in Lyft,Cruise, Shyp, Poshmark and Lendup), Sidharth Rao (WebChutney),Outbox Ventures, Rajan Navani, Jaspreet Bindra, Gagan Duggal.
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Octo helps companies retain their data and apply machine learning to power real-time insights, segment-of-one marketing, recommendations, personalised feeds and much more on their platform. Its feature set is a combination of Mixpanel and Segment.io which any startup/enterprise can deploy on their own servers and customise.
Also being an open-source platform it is infinitely customisable as per the need of the client. This allows companies to extend the system for their own internal Machine learning algorithms and workflows. The open-source version comes built in with features for segment-of-one marketing, recommendations, personalised feeds which they can host, plus customise on their own servers and not rely on third party tools. Octo estimates over 70% reduction in the external SaaS costs of their clients when they start scaling.
Well to demonstrate, the pictures below show how the setup looks before and after octo installation.
Using the Octomatic platform has its own advantages. It can be used by companies as their in-house analytics solution. You can just install Octo, put the one line code in your website and apps and have your own version running. The biggest advantage is owning the data and also being able to customise the reports as per business need. Companies can install Octo, and send personalised push messages based on triggers to each user to drive more active users and engagement. Also they can use the recommendations and segment-of-one features to personalise their app and website for each user, just like Facebook or Netflix.
Currently Octo caters to the Analytics, Growth Hacking and Marketing automation sector. The company currently has an internal target of 100 clients by the end of 2016. And to achieve this they are building more features which the community wants. Octo plans to keep releasing more code, with a focus on an intuitive dashboard and plugin system. Also, in addition some ML algorithms which can help companies personalise their communication automatically are being worked upon.
Octo’s decision to open source their technology has allowed companies especially start-ups to have their own analytics solution. When it comes to India, there are hardly any other companies who have open sourced their analytics solution, Octo is one of those few rare start-up who has taken a step in this direction.