The analytics domain over the years has evolved incredibly and today, it is one of the major pillars of a business. As the significance of analytics is becoming more and more clear, several startups have started to enter the analytics domain. One such startup is Insistent Technologies which help companies leverage the power of analytics to thrive in this competitive industry.
This week, Analytics India Magazine reached out to Ravindra, Director, Insistent Technologies to understand the company’s end-to-end functioning.
Started out in late 2014, Insistent Technologies covers all areas of data and digital analytics ranging from descriptive analytics, business intelligence, dashboarding, forecasting, predictive modelling, segmentation, and recommender systems. Further, the company with a team of 10 also provides 360° analytics related support.
The use of analytics tools at Insistent has always demanded handsome capital. Even the good resources that are available are extremely expensive, making it difficult for any startup to sustain for long.
However, the startup founders told us that with their excellent strategic formula to manage resourcing, they have been self-sustaining and growing from the get-go. Talking about the funding phase, the company believes that collaboration with other startups to drive best practices and generate more funds through strategic partnerships would be great. However, they are not specifically looking at any fundraising to throw themselves into different obligations which may block their focus.
Talking about the offerings, the company has predefined models for certain domains which makes the plug-and-play operations easy for different analytical needs for its clients. It has tools to understand product price elasticity, customer price sensitivity, product bundling, product recommender system, sales behaviour analysis, etc. which also reduce the go-live period for any of its services.
Insistent operates with a low-cost outsourcing model which makes it extremely lucrative for its customers. The company is managing most of the analytical services from cost-effective global locations. Its strong experience in the field of manpower resourcing has been helping the company to locate talents at attractive pricing. Also, it allows Insistent to offer free pilots for months to its client at times.
The Role Of Machine Learning
Being a startup that provides all-round services to makes organizations analytics-ready, Insistent also makes the best use of machine learning and business intelligence for high-end implementation. Here are some of the best applications of ML and BI:
Machine Learning Applications
- Prediction of demand/sales/profit as a result of business variable changes
- Customer segmentation & target optimization
- Product bundling, catalogue optimization
- Strategic decision-making support using business-specific variables
- Natural language processing (text mining, sentiment analysis, etc.)
Business Insights and Analytics
- Empowering sales teams using data analytics
- Customer conversion improvement projects
- Product & market competitive analytics
- Pricing optimization, Channel pricing
- Local & Global competition analysis (online only)
- Employee attrition prediction
- AI-based task allocation system and more
The Roadmap Ahead
Since inception, the company has always been focusing on developing its capabilities predominantly in the field of analytics by developing competencies required to deliver various solutions for its clients.
And looking to the future, Insistent is planning to venture into newer domains where very little exploration has happened from a data analytics perspective and continue supporting matured domains which will introduce Insistent as innovators in the field of analytics.
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